The Real Deal Miami

Delray rental communities sell for $36 million

January 31, 2012 09:00AM

Water's Edge in Delray Beach

A pair of Delray Beach rental communities have been purchased for a combined $39 million, the Sun Sentinel reported. The Water’s Edge apartment complex and The Fountains were bought by Aventura-based Acumen Real Estate for $16.75 million and $19.25 million respectively. ARA represented seller Archon Group in the deal. [Sun Sentinel]