Related Fund Management buys 292-unit apartment complex in Delray Beach for $117M
Related Fund Management bought a 292-unit apartment complex in Delray Beach for $116.9 million. The deal comes amid an uptick in multifamily investment sales in South Florida, despite elevated interest rates and other economic headwinds. Related Fund Management bought Aura Delray Beach at 2095 West Atlantic Avenue, paying nearly $400,200 per unit, according to records. It secured a $59.1 million Freddie Mac loan, which matures in 2035, for the purchase. The seller is Dallas-based Trinsic Residential Group, which completed development of Aura in 2023. The complex consists of six buildings on a 12-acre site. It offers studios and one-bedroom to […]This article originally appeared on The Real Deal. Click here to read the full story.
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