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TH Real Estate acquires Southeast Florida apartment community

East Delray

TH Real Estate has acquired The Atlantic at East Delray, at 650 Lavers Circle, a 228-unit apartment community in Delray Beach, FL.

The asset, constructed in 1996, was purchased from a joint venture between Pollack Shores and their equity partner, and is the latest addition to TH Real Estate’s $10.5bn portfolio of equity investments throughout the southeast US region, which spans 11 states and Latin America.

"The Atlantic at East Delray is a high-quality apartment community attractively situated east of I-95 proximate to retail, the beach and Atlantic Avenue, the primary entertainment strip in Delray Beach," said Thomas Minkowicz, Senior Associate at TH Real Estate and the lead acquisition officer overseeing the transaction. "Furthermore, the property’s Delray Beach location provides residents convenient access to major employment centers in both West Palm Beach and Boca Raton. The investment strategy includes in-unit renovations and amenity improvements that will enhance the community."

TH Real Estate targets core, core-plus, and value-add multifamily investments. The platform currently owns over 30,000 units and seeks to acquire well-located assets in the top 25 US metros.

"The multifamily sector continues to demonstrate favorable fundamentals and by employing active asset management and targeted repositioning, we expect to further enhance these investments,"said Brian Eby, Senior Director at TH Real Estate.

This press release is intended for trade press only. Please do not redistribute. Issued by Nuveen Real Estate Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Nuveen Real Estate Management Limited provides investment products and services. C232605

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