WELLINGTON, FL—HG Management, LLC of Tampa has sold the award-winning The Quaye at Wellington multifamily community here to Stockbridge Capital Group for $120 million.
Bethesda, MD-based commercial finance services firm Walker & Dunlop Inc. reported the sales transaction. The Quaye at Wellington is a 350-unit multifamily property in Palm Beach County that was completed in 2017 and earned the “Best Green Project of the Year” by the South Florida Business Journal. The property also garnered the “Best Amenities” award in the South Florida Circle of Winners contest and also earned a National Association of Home Builders' Gold Standard certification for a green project.
The Walker & Dunlop Investment Sales team, led by Greg Engler, Chris Conklin and Roberto Pesant, represented HG Management, LLC in the sale of the asset to San Francisco-based Stockbridge Capital Group.
“HG Management continues to raise the bar as it relates to delivering the highest quality product in South Florida,” Walker & Dunlop's Conklin says.
The Walker & Dunlop team has now closed three new South Florida apartment development transactions for HG Management, totaling nearly $350 million in sales volume.
The Quaye at Wellington is located on a 30-acre parcel with four on-site lakes and features a 10,538-square-foot clubhouse with a 2,911-square-foot fitness center, multi-purpose sports court, golf and sports simulator, boxing ring, clubroom with four 65-inch televisions, coffee and juice bar, business centerand state-of-the-art demonstration kitchen.
The community's amenities include a jogging path throughout 3.56 acres of preserves, a 3,000-square-foot dog park, and pool area consisting of an Olympic-style lap pool and gazebo with fully equipped kitchen. The community was developed with 70% townhome units that include direct-access garages with fully-equipped electric car charging outlets.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
