**Related Affiliate Acquires Aura Delray Beach Apartments for $116.85M**
An affiliate of New York-based Related Companies has acquired the Aura Delray Beach apartment complex for $116.85 million.
Originally developed by Trinsic Residential, the 292-unit multifamily property is located at 2087 W. Atlantic Avenue in Delray Beach. The property spans 11.64 acres and totals 323,319 square feet of residential space. The sale marks the first time the complex has changed hands since its completion in 2023.
The purchase was financed with a $59.06 million mortgage provided by Berkadia Commercial Mortgage, which was later assigned to Freddie Mac. The acquisition price breaks down to just over $400,000 per unit.
Aura Delray Beach offers units ranging in size from 651 to 1,374 square feet, with monthly rents between $2,385 and $4,085. Community amenities include a swimming pool, fitness center, playground, business center, and clubhouse.
This high-profile acquisition highlights the continued investor interest in South Florida’s multifamily market.
