Zom sells luxury Delray apartments to GID partnership for $60M

The Orlando multifamily developer sold the 188-unit Delray Preserve for $321,000 per apartment to IMP Delray LLC, an affiliate of the Boston-based partnership between GID and CalPERS. No financing was recorded.

Delray Preserve, at 2001 North Federal Highway, includes eight three-story buildings that were completed in 2016 on about 8.5 acres of land. Zom paid $11 million, or $32 per square foot, for the development site in 2015, according to data from Real Capital Analytics.

Available apartments range from 665-square-foot, one-bedroom units with rents starting at $1,700 per month to 1,531-square-foot, three-bedroom units asking $2,620 a month, according to its website. Amenities include walk-in closets, private patios and stainless-steel appliances.

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