Multifamily

DELRAY BEACH, FLA. — TH Real Estate, an affiliate of TIAA’s Nuveen, has acquired The Atlantic at East Delray, a 228-unit apartment community located at 650 Lavers Circle in Palm Beach County’s Delray Beach. The sales price was not disclosed, but the South Florida Business Journal reports the asset sold for $54 million. TH Real Estate purchased the property from a joint venture between Pollack Shores and its equity partner. Constructed in 1996, The Atlantic at East Delray features a swimming pool, dog park, business center, playground, fitness center, sand volleyball court and picnic areas with charcoal grills.

PALM BEACH GARDENS, FLA. — Walker & Dunlop Inc. has brokered the sale of The Quaye at Palm Beach Gardens, a 340-unit, Class A apartment community located in South Florida’s Palm Beach County. The sales price was not disclosed, but the South Florida Business Journal reports an affiliate of PGIM Real Estate, the real estate arm of Prudential Financial, purchased the asset in July for $118.4 million. Greg Engler, Chris Conklin and Roberto Pesant of Walker & Dunlop’s investment sales team represented the seller, HG Management LLC, in the transaction. Constructed in 2015, The Quaye was designed to meet the National Association of Home Builders’ Gold Standard for a green project. The Quaye’s sustainable features include an almost 50 percent reduction in energy and water usage, cleaner air inside the home and outside, with the community being 100 percent smoke-free, reduced sound transmission with solid concrete walls and six-inch concrete floors and solar control windows that reduce solar heat and noise. Community amenities include a clubhouse, fitness center, kids’ playroom, dog park, swimming pool and a community kitchen.