Time Equities Launches $95M Offering for 465-Unit Octavia in Boynton Beach

• Time Equities launched a $95.3 million tenant-in-common offering for Octavia, an eight-story, 465-unit Class A multifamily project in downtown Boynton Beach.
• The development at 120 SE 1st Avenue will include about 6,300 square feet of retail, 50,000 square feet of amenities and a 1,005-space parking garage.
• The offering is designed for verified accredited investors, including those seeking replacement property for 1031 and 1033 exchanges.
• Time Equities previously secured a $160 million construction loan from M&T Bank for the project.

What Time Equities Is Building At Octavia

Time Equities is developing Octavia as the first residential phase of the larger Boynton Beach Town Square redevelopment. The project occupies a roughly 3.8-acre site at 120 SE 1st Avenue, immediately south of City Hall. The eight-story building will deliver 465 rental apartments, ground-floor retail, structured parking and approximately 50,000 square feet of private amenities. The project is part of a broader 16.5-acre Town Square redevelopment that includes civic uses, public spaces and additional future residential development.

What The $95.3 Million Offering Means For Investors

The new $95.3 million TIC offering is available through Time Equities Securities to verified accredited investors under Rule 506(c) of Regulation D. The structure is specifically intended to accommodate investors looking for replacement property for 1031 and 1033 exchanges. The offering targets an initial 5.75% annual current return, distributed quarterly, and anticipates a future refinancing that could return a portion of invested capital on a tax-deferred basis. The offering also has senior positioning relative to approximately $34 million of sponsor equity, giving Time Equities significant capital exposure alongside investors. The projected returns and refinancing strategy remain subject to the terms and risks outlined in the Private Placement Memorandum.

What The Development Includes For Downtown Boynton Beach

Octavia will bring a substantial new residential component to a downtown that has been undergoing a long-planned redevelopment. The project includes 6,300 square feet of retail, roughly 50,000 square feet of amenities and a 1,005-space parking garage. The broader Town Square plan calls for 898 market-rate rental apartments and 23,500 square feet of commercial space across its north and south parcels. The city has also backed the redevelopment through tax increment financing agreements totaling $35.2 million, including $20 million for the south parcel where Octavia is being built.

What The Financing Says About The Project

Time Equities secured a $160 million construction loan from M&T Bank earlier this year to finance the first phase. The financing covers the 465-unit building and associated retail, amenities and parking. That financing, combined with the new TIC offering, gives investors another look at how large multifamily projects are being capitalized in South Florida. It also shows the importance of public-private financing tools in making large downtown redevelopment projects feasible.

What The Project Means For Palm Beach County Investors

Octavia is part of a broader wave of multifamily development in Boynton Beach, where developers are adding rental housing as the city's downtown continues to transition. For landlords and CRE investors, the project is notable for its scale, downtown location and institutional-style capital structure. The combination of 465 new apartments, retail, amenities and public financing makes Octavia one of the more significant projects reshaping Boynton Beach's urban core.