Kolter Inks $91.7M Construction Loan, Starts Work on Delray Beach Rental Community
Kolter Multifamily closed on financing and commenced construction for Alton Delray, a 386-unit Class A apartment community located at 2101 S. Congress Avenue in Delray Beach, Florida. The company obtained a $91.7 million construction loan from US Bank.
Alton Delray will comprise multiple six-story residential buildings arranged throughout the site.
Just south of Linton Blvd and just west of Interstate 95, the property provides residents access to major employment hubs throughout Palm Beach County and the broader South Florida region. The community is also located just minutes from Atlantic Avenue, known for its dining, boutique shopping, cultural venues, and active nightlife.
Alton Delray will offer a mix of unit types and modern amenities, such as a two-story clubhouse and pool. Construction is now underway, with initial unit deliveries anticipated in late 2027. Kaufman Lynn Construction is the builder, and MSA Architects is the designer.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout