DELRAY
BEACH, Fla., June 27,
2024 /PRNewswire/ -- The Milestone
Group (Milestone) announces its acquisition of the Axis
Delray Beach Apartments, a 488-unit, garden-style multifamily
community located at 1495 Spring Harbor Drive in Delray Beach, FL. The purchase price was not
disclosed.
"The acquisition of Axis Delray Beach compliments Milestone's
current portfolio, and our team was again able to source an
off-market opportunity and executed a creative transaction that met
the seller's timing expectations," said Milestone Vice President of
Acquisitions, Jason
Wise. "And while the asset has been institutionally
maintained and significant dollars have been spent on unit interior
renovations by the seller, we have crafted a very thoughtful and
thorough overhaul of the common area amenities, landscaping, and
building exteriors that will not only greatly enhance the curb
appeal of the asset but will also provide both new and existing
residents with a next-level living experience. We expect this
multi-million-dollar project to begin immediately."
About the Property
Axis Delray Beach features a unique mix of one-,
two-, and three-bedroom garden and townhome-style apartments in a
lakefront, resort-style setting. Residents enjoy easy access to
immediate retail options including Whole Foods and Trader Joe's
along with abundant retail and dining options in downtown
Delray Beach, which is only two
miles away. Axis Delray Beach is
minutes from I-95, the Florida Turnpike, and the Delray Beach
Tri-Rail Station, all providing quick access to major employers and
demand drivers.
Community amenities include two resort-style pools, a recently
built resident clubhouse, two fully renovated fitness centers, and
a bark park. Inside the units, residents will find upscale finishes
such as white shaker cabinets, white quartz countertops,
stainless-steel undermount sinks, and stainless-steel
appliances.
About Milestone
The Milestone Group is a leading,
privately held real estate investment management firm with strong
expertise and focus on value-add multifamily assets in major
metropolitan markets of the United
States. Founded in 2003, Milestone has created trust and
confidence with its investors through successfully navigating
multiple economic cycles across over $9
billion of multifamily investments totaling more than 90,000
units. Milestone invests through a series of discretionary equity
funds and has corporate offices in Dallas, TX, Boca
Raton, FL, and Atlanta, GA.
For more information, please visit www.milestonegp.com or contact
investorrelations@milestonegp.com.
Media
Contact:
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Karen
Widmayer
|
|
KW Communications
LLC
|
|
karenwidmayerpr@gmail.com
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301.661.1448
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SOURCE The Milestone Group