Depot Station Apartments in Delray Beach Purchased by Cortland for $74 Million

Depot Station was built in 2017 and consists of seven, three-story buildings with one-, two- and three-bedroom units. Kyle Bateh, Cortland’s Director of Investments, Florida, explained, “Delray Station – now Cortland Delray Station – represents an incredible opportunity.”

“The community’s location with its adjacency to Atlantic Avenue and quick access to Delray Beach and I-95 offers residents convenient proximity to both major employers and the arts/entertainment district,” he said.

“Although the community is already a stellar asset, we do plan to make a few light updates in the near term, including expanding the package lockers and upgrading the bike storage room with more storage racks and a work bench with tools and air pumps.”

Explaining, “People in this area love to bike, and this is just one small way we can enhance the resident’s living experience through our hospitality-driven approach and commitment to putting residents first.”

In terms of affordability, he said, “We also recognize that this is a unique and complicated time for many renters, and we were particularly drawn to this community given the percentage of units dedicated to workforce housing, which are available to more moderate income families.”