The Quaye at Wellington apartments, one of the more environmentally friendly new multifamily projects in South Florida, was sold for $120 million.
Isla Verde Wellington LLC, an affiliate of Tampa-based HG Management, sold the 350-unit community at 1009 Quaye Lake Circle to Quaye at Wellington Corp., an affiliate of Atlanta-based Stockbridge Capital Group. State Farm Life Insurance Co. provided a 10-year, $60 million mortgage to the buyer. Walker & Dunlop Investment Sales represented HG Management in the deal.
The price equated to $342,857 a unit. The Quaye at Wellington was built on the 32-acre site in spring 2017.
“These apartments were a perfect fit for the surrounding Wellington Village neighborhood,” HG Management General Partner Charles B. Funk said. “We combine green features with well-designed floor plan choices and upscale amenities you typically only find in single-family luxury homes.”
The community features one- to three-bedroom apartments and townhomes with garages, including electric car-charging outlets. Amenities include four lakes; a walking path along a nature preserve; dog park; a park with fitness equipment; playground; pool; summer kitchen; and a clubhouse with a demonstration kitchen, game room, fitness center and sports court.
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Rank Company Sum dollar volume sales/leases 1 HFF LP $5.54 billion 2 CBRE $5.46 billion 3 Marcus & Millichap $3.18 billion View This List