An affiliate of New York-based Related Cos. paid $116.85 million for the Aura Delray Beach apartments.
The South Florida Business Journal reports Trinsic Residential sold the 292-unit Aura Delray Beach apartment complex at 2087 W. Atlantic Ave. Berkadia Commercial Mortgage provided a $59.06 million mortgage to the buyer and then assigned that loan to Freddie Mac. The price came out to just over $400,000 per unit.
Totaling 323,319 square feet, the Aura Delray Beach was built on the 11.64-acre site just west of Interstate 95 in 2023. This is the first time it has sold.
Units in Aura Delray Beach range from 651 to 1,374 square feet and rent from $2,385 to $4,085 per square foot. Amenities include a pool, fitness center, playground, business center and clubhouse.
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