Jeff Blau And Bruce Beal Of Related Cos Acquire 292-Unit Aura Delray Beach From Brian J. Tusa For $116.85M

The transaction involved the sale of a multi-family asset located at 2087 West Atlantic Avenue in Delray Beach, encompassing 11.64 acres. The sale price for the property was $116,850,000, with a total of 292 units. The property features a square footage of 323,319 and a price per square foot of $361, along with a price per unit of $400,171.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $116,850,000
• Buyer: Jeff Blau & Bruce Beal - Related Cos
• Seller: Brian J. Tusa - Trinsic Residential Group
• Lender: Berkadia
• Units: 292
• Acres: 11.64
• Square Footage: 323,319
• Price Per Unit: $400,171
• Price Per Square Foot: $361

The deal saw Jeff Blau and Bruce Beal from Related Cos acquire the 292-unit Aura Delray Beach apartments from seller Brian J. Tusa of Trinsic Residential Group. Berkadia facilitated the financing of the transaction with a loan amount of $59.06 million, which was later assigned to Freddie Mac.