$120 million sale of luxury multifamily property in Florida
Walker & Dunlop, Inc. announced that it closed an investment sale for The Quaye at Wellington, a 350-unit, Class AAA multifamily community in The Village of Wellington, Florida. Delivered in 2017 with “Award Winning” quality, the newly constructed property was awarded the 2017 “Best Green Project of the Year” accolade from South Florida Business Journal as well as “Best Amenities” in the Southeast Florida Circle of Winners contest. The asset has also achieved 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 Stockbridge Capital Group. Mr. Conklin remarked, “HG Management continues to raise the bar as it relates to delivering the highest quality product in South Florida. This team has closed three new South Florida apartment development transactions for HG Management, totaling nearly $350,000,000 in sales volume. The Quaye represents one of the finest multifamily garden communities delivered to date.”
Charles Funk and Jeff Meehan with HG Management, LLC commented, “Sustainable development is the future and we are glad to have had such a passionate development team work on this one-of-a-kind project.”
Situated on 30 acres of land with four on-site lakes, The Quaye boasts 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 center, and state-of-the-art demonstration kitchen. Other community 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 percent townhome units that include direct-access garages with fully-equipped electric car charging outlets.
The Quaye is ideally located in the heart of The Village of Wellington, a premier residential neighborhood with one of the highest income levels in Florida. The town is set in an attractive natural environment with a wealth of recreational, cultural, shopping, and entertainment venues such as world-renowned equestrian centers, the Mall at Wellington Green, the Gardens Mall, Whole Foods, Trader Joe’s, newly announced Sprouts Farmers Market, Fresh Market, public parks, and nationally celebrated golf resorts, country clubs, and spas. The Quaye also benefits from a host of walkable retail and restaurants.
Located in South Florida, where Walker & Dunlop’s Investment Sales team has closed over $1.5 billion in sales over the last 30 months, the Village of Wellington is minutes from I-95 and the Florida Turnpike, providing quick access to appealing amenities, “A” rated schools, attractive neighborhoods, and employment hubs. The town shares a boundary with Everglades National Park and is internationally recognized as the Equestrian Capital of the World.