Stockbridge Snags $120M FL Community

Walker & Dunlop represented HG Management in its disposition of The Quaye at Wellington, one of the highest per-unit sales for a garden-style community in Florida.

Stockbridge Capital Group has acquired The Quaye at Wellington, a luxury garden-style community in Wellington, Fla. The firm purchased the 350-unit apartment and townhome property from HG Management for $120 million, making it one of the highest per-unit sales for a garden-style community in Florida. This sale outranks the company’s $118 million sale of Quaye at Palm Beach Gardens, a 340-unit community that was purchased by PGIM Real Estate last July.

“These apartments were a perfect fit for the surrounding Wellington Village neighborhood,” said Charles Funk, general partner at HG Management. “We combine green features with well-designed floorplan choices and upscale amenities you typically only find in single-family luxury homes.”

Luxury Living at Quaye

Situated on 32 acres at 9840 Quaye Side Drive, The Quaye at Wellington offers one-, two-, three- and four-bedroom floorplans ranging from 888 to 2,156 square feet across 33 two- and three-story buildings. Constructed in 2017, the community has a current occupancy of 82 percent as of March 2018, according to Yardi Matrix. Apartment features include direct-access garages, washer/dryers, high ceilings and private balcony/patios. The community offers residents access to amenities such as:

  • four lakes
  • nature preserve with walking path
  • dog park
  • park with agility equipment
  • lake-front exercise trail
  • playground
  • heated pool
  • basketball court
  • business center
  • media room
  • state-of-the-art 10,538-square-foot clubhouse
  • demonstration kitchen
  • game room
  • 2,911-square-foot fitness center
  • yoga/spin room
  • boxing ring
  • multi-sport simulator
  • indoor sports court
  • outdoor summer kitchen
  • electric charging stations
  • 650 parking spaces

Walker & Dunlop Investment Sales represented HG Management in the sale. The team has closed three HG property dispositions totaling more than $350 million in South Florida.

Images courtesy of HG Management

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