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 in a statement. “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.”
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.
