WEST PALM BEACH, FLA. — Newmark has arranged the $70 million sale of Visions of Willow Pond, a 300-unit, garden-style multifamily community located in West Palm Beach. Tal Frydman and Hampton Beebe of Newmark represented the seller, Bar Investment Group, in the transaction. Jim Badolato, Mike McKee and Kippy Donovan, also with Newmark, secured a $50 million Freddie Mac loan to finance the purchase of the property on behalf of the buyer, Morgan Properties. The buyer plans to implement a capital improvement program at the property to enhance community amenities and upgrade units.
Situated at 4860 Sand Stone Lane, Visions at Willow Pond totals 17 buildings and features one- and two-bedroom floorplans ranging in size from 521 square feet to 1,064 square feet, according to Apartments.com. Amenities at the property include a resort-style swimming pool, sundeck, 24-hour fitness center, tennis court, playground and clubhouse lounge.