A recently completed built-to-rent development, dubbed Allure on Enterprise, sold for $24 million to KRI Properties, showing the potential of the local Florida market.
Developed by MTK Developments, the 130-unit complex in DeBary features a mix of townhouses, carriage houses and flats with one, two or three bedrooms. Brokered by Cushman & Wakefield, Danburg Management sold Allure on Enterprise to KRI Properties in June for $184,614 per unit. The sale earned the 2026 CoStar Impact Award for sale/acquisition of the year in Delta-Daytona Beach, as judged by real estate professionals familiar with the market.
Prior to the sale, Allure on Enterprise — a development that takes its name from its location off Enterprise Road — had a 98% occupancy, representing a demand for this type of rental development in the Daytona Beach market. Allure on Enterprise is MTK Development's second build-to-rent project in the United States.
About the project: Completed in 2023, Allure on Enterprise is a suburban development that sits on 15.04 acres. Residents can take advantage of several amenities, including a playground, pool, fitness center, yoga studio and clubhouse. Some of the units feature a private garage.
What the judges said: "Great to see a new product type sold setting the stage for additional development in the area for BTR," said Steve Costa, managing director, NAI Realvest.
They made it happen: Nick Meoli and Mike Donaldson, vice chairmen with Cushman & Wakefield, represented the listing broker.