Investors Trade Delray Apartments for $54M
The sale of The Atlantic at East Delray represents a 34 percent gain after a two-plus-year hold.
August 18, 2017 at 02:00 PM
2 minute read
The 228-unit Atlantic at East Delray apartment complex sells for $54.3 million to a subsidiary of TIAA.
TH Real Estate, an affiliate of TIAA's Nuveen investment manager, purchased the Delray Beach complex south of Linton Boulevard about halfway between Interstate 95 and U.S. 1 for $238,268 per unit.
The seller of the community built in 1996 at 650 Lavers Circle was PS Vinings Owner LLC, a joint venture between Atlanta-based Pollack Shores and their equity partner.
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