Trinsic Residential nabs $57M loan for Boca apartments

322-unit project slated to open in the summer of 2020

Rendering of Aura Boca
Rendering of Aura Boca

Another apartment development at the Park at Broken Sound in Boca Raton just scored construction financing.

Dallas, Texas-based Trinsic Residential Group secured a $56.5 million loan from TD Bank for Aura Boca, a 322-unit luxury rental project at 789 West Yamato Road, property records show.

The eight-story apartment building is expected to open in the summer of 2020, according to the developer’s website. The project will include a fitness and spin center, community pool, clubhouse and a seven-story parking garage.

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Units at Aura Boca will range from one to three bedrooms with nine and 10-foot ceilings.

Records show Trinsic Residential also transferred ownership of the 3.8-acre site to an affiliate of the company for $12.88 million. The firm develops suburban, institutional apartment communities in Florida, Texas, Washington and Arizona, according to its website.

Last year, developers Jimmy Tate and Sergio Rok sold a new luxury rental complex in the Park at Broken Sound to GID for $92.1 million. Allure by Windsor, a 282-unit apartment community at 6750 Congress Avenue, traded hands about a year after it was completed for about $327,000 per unit. It was one of the first rental projects to be developed in the park after it was rezoned to allow for more residential development.