Milestone Group Acquires South Florida Community

The Delray Beach property has undergone significant renovations.

Outdoor pool near two-story apartments and palm trees
Axis Delray Beach Apartments offers 488-unit garden-style units. Image courtesy of The Milestone Group

The Milestone Group has acquired the Axis Delray Beach Apartments, a 488-unit garden-style multifamily property in Delray Beach, Fla., from Bainbridge Cos. The purchase price could not immediately be learned.

Axis Delray Beach features a unique mix of one-, two- and three-bedroom garden and townhome-style apartments in a lakefront, resort-style setting. In 2024, one-bedroom homes were leasing for approximately $2,033.

Interior renovations

Built in 1990, the community is located at 1495 Spring Harbor Drive. The property’s units have undergone significant interior renovations in recent years. Finishes at the property’s units include white shaker cabinets, white quartz countertops, stainless-steel under mount sinks and stainless-steel appliances.

Community amenities include two resort-style pools, a recently built resident clubhouse, two fully renovated fitness centers and a bark park.

Milestone, which has corporate offices in Dallas, Boca Raton, Fla., and Atlanta, invests in multifamily properties via a series of discretionary equity funds.

Delray Beach, which is located some 50 miles north of Miami, is known for its art scene, natural attractions and proximity to the beach.

Last year, 13th Floor Investments and Key International partnered with CDS International Holdings and Wexford Capital to develop the first phase of Parks at Delray, a mixed-use property in Delray Beach.

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