Ares Management recently made headlines in South Florida with their acquisition of the multifamily community, Ceru, for a whopping $139.6 million. This deal marks one of the largest apartment transactions in 2024 for the region. The seller, Mainstreet Capital Partners, sold the 284-unit property at approximately $500,000 per unit.
The complex spans over 373,856 square feet and sits on a prime location of four acres on Congress Avenue in Boca Raton. With an impressive occupancy rate of 95%, Ceru offers units ranging from about 700 to 1,400 square feet with rents between $2,696 and $5
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