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Corebridge Real Estate Investors Acquires Multifamily Asset In Delray Beach For $73 Million

Property Image
SOLD
$73,000,000

Florida

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MultiFamily411,173 SF
Sold 03/19/2025
the dealdetailscomps
Property Image
SOLD

Corebridge Real Estate Investors Acquires Multifamily Asset In Delray Beach For $73 Million

1631 Federal Highway

See Similar Deals
MultiFamily411,173 SF
Sold 03/19/2025
the dealdetailscomps

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$177
Total Square Footage:411,173 SF
Transaction Type:Sale

The property asset involved in this transaction is a multi-family building located at 1631 Federal Highway in Delray Beach. The asset was sold for a price of $73,000,000.00 and comprises 225 units within a total square footage of 411,173.0.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $73,000,000.00
  • Buyer: Corebridge Real Estate Investors
  • Buyer's Representatives: Adam Portnoy & Rob Lester - The RMR Group
  • Seller: Nathalie Palladitcheff - Ivanhoé Cambridge
  • Units: 225
  • Square Footage: 411,173.0
  • Date of Transaction: 03/19/2025
  • Market: Delray Beach

Corebridge Real Estate Investors was the buyer, with Adam Portnoy and Rob Lester from The RMR Group representing them in the transaction. The seller of the property was Nathalie Palladitcheff, who is affiliated with Ivanhoé Cambridge.

Players

Ivanhoé Cambridge
Ivanhoé Cambridge
SELLER

Details

SOLD
IMAGE: Adam Portnoy, Nathalie Palladitcheff, Rob Lester & Kevin Hogan DATE: 03/19/2025 ADDRESS: 1631 South Federal Highway MARKET: Delray Beach ASSET TYPE: Multifamily BUYER: Kevin Hogan - Corebridge Real Estate Investors (@CorebridgeFinancial); Adam Portnoy & Rob Lester - The RMR Group (@TheRMRGroup) SELLER: Nathalie Palladitcheff - Ivanhoé Cambridge (@IvanhoeCambridge) SALE PRICE: $73,000,000 UNITS: 225 ~ PPU: $324,444 SF: 411,173 ~ PPSF: $178 NOTE: Ivanhoé Cambridge sold Avana Bayview, a 225-unit multifamily property in Pompano Beach, for $73M to Corebridge Real Estate Investors and The RMR Group. The 411,173-sf complex, built in 2004, traded for nearly the same price Ivanhoé Cambridge paid in 2021.

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