Greystar founder Bob Faith, Elan Polo Gardens at 4310 Chukka Lane and Property Reserve CEO Ashley Powell (Property Reserve, Greystar, Elan Polo Gardens)

The Church of Jesus Christ of Latter-day Saints’ real estate arm dropped $102.4 million for an apartment complex near Wellington, marking its continued investment in South Florida.

Property Reserve, which invests the church’s reserve funds into commercial real estate, bought the 284-unit Elan Polo Gardens at 4310 Chukka Lane in unincorporated Palm Beach County from Greystar, according to records and real estate database Vizzda. The deal breaks down to $360,500 per apartment.

Charleston, South Carolina-based Greystar completed construction of the complex last year. Elan Polo Gardens consists of eight three-story apartment buildings, six one-story garages and a clubhouse on a 20.4-acre site, Vizzda records show.