Miami-based Corinthian Capital acquired a build-to-rent townhome community from MAG Real Estate & Development of Delray Beach.

The property, known as Aviara Lake Worth, features three two-story townhome buildings containing 30 three-bedroom units and six four-bedroom units. Built in 2019, it sits on a 3.5-acre site at 3902 Melaleuca Lane in Lake Worth.

Berkadia South Florida’s senior managing directors Roberto Pesant and Jaret Turkell, along with directors Omar Morales and Yoav Yuhjtman, led the transaction on behalf of MAG Real Estate.

“Rental townhomes meet a clear tenant ‘need,’ which in turn attracts investors,” said Pesant in a press release. “Due to South Florida’s land constraints, this kind of product is usually on the smaller size, like Aviara Lake Worth, with under 50 units. We’ve seen a trend of more sophisticated investors acquiring these boutique, in-fill BTR deals. Berkadia has been involved in the sale and financing of similar boutique BTR properties in Flagler Village (Fort Lauderdale) and Palmaire Country Club in Pompano Beach, for example.”