Delray Beach Apartments with 488 Units Sell for $69 Million


By Brian Bandell, courtesy of South Florida Business Journal A pair of neighboring apartment complexes in Delray Beach were acquired for $69.1 million by an affiliate of San Diego- based Fairfield Properties. The complexes are the 288-unit Spring Harbor at 1505 Spring Harbor Drive and the 200-unit Spring Landings at 1605 Linton Lake Dr. Both complexes include a clubhouse. They are on opposite sides of the same lake – just west of the Linton Boulevard exit of Interstate 95. Dallas-based 1865 Linton & 1495 Spring Harbor LLC sold the properties to Fairfield Spring Harbor, the affiliate of Fairfield Properties. Berkeley Point Capital provided a $50.6 million mortgage to the buyer.