Florida-based RAS Realty Partners has purchased another apartment community in Wilmington, paying more than $48 million for Beaumont Oaks at Porters Neck.

The complex, at 115 Beaumont Oaks Drive, has 204 units in 11 buildings, a nearly 5,000-square-foot clubhouse and 49 private garages.

RAS also owns the adjacent 34 townhomes, which the company bought for $15.25 million in 2022, and another Wilmington apartment development, Oaisis at Riverlights off River Road. RAS paid $64 million for the 250-unit Riverlights complex in 2021.

“We are excited to add Beaumont Oaks at Porters Neck Apartments to our portfolio,” stated Michael Heller, managing partner of RAS Realty Partners, in a news release. “It is a well-located community with excellent lifestyle and wellness features.”

According to the release, RAS used a loan from M&T Banks with a fixed rate of 5.35%. The seller was Murray Farm Rentals LLC, an entity based in Belville and managed by D.I. Logan. Max Smith, Evan Barton and Ross Tomaselli of Wilmington-based Cadence Realty brokered the acquisition. Andrew Smith of Global Real Estate Advisors (GREA) in Raleigh represented the seller.

"The off-market transaction was sourced through RAS Realty Partners’ established network," the releases stated. "The complex will be managed by RAS Management Group and its experienced leasing team."

Founded in 2014 and headquartered in Boca Raton, Florida, RAS has management, development and brokerage divisions. The company "specializes in multifamily assets, concentrating activity in metropolitan areas in the Southeast region."