Liam Sweeney

REIT Buys Azul Apartments in Stuart

New Urban Communities, a Delray Beach, Florida-based residential developer, sold its 49-unit apartment building last week. An affiliate of San Diego-based public real estate investment trust DiversyFund Growth REIT acquired the Azul apartments at 201 SW Joan Jefferson Way in Stuart, Florida, for $15.5 million, or about $316,000 per unit. Azul is a three-story, 32,577-square-foot multifamily property near the REIT Buys Azul Apartments in Stuart

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