HG Management Sells 350-Unit Apartment Community in Palm Beach County for $120M

WELLINGTON, FLA. — Tampa-based HG Management LLC has sold The Quaye at Wellington, a 350-unit apartment community in Palm Beach County, for $120 million. Walker & Dunlop arranged the transaction on behalf of HG Management, which delivered the property in the spring of 2017. Stockbridge Capital Group acquired the asset. Situated on 32 acres in Wellington, The Quaye includes a mix of one- to four-bedroom floor plans and townhome-style units with direct-access garages. Community amenities include four lakes, a nature preserve with a walking path, dog park, playground, heated pool, clubhouse, game room, fitness center with a boxing ring, yoga and spin studio, indoor sports court and an outdoor summer kitchen. The community was more than 90 percent occupied at the time of sale.