The Quaye at Palm Beach Gardens, a Class AA apartment community in Palm Beach Gardens, Fla. has been acquired by PGIM Real Estate for $118 million. Located on a 34 acre site on Victoria Falls Blvd., the 340 unit property changed hands for just under $340,060 per unit. Community amenities include a boxing exercise ring, fitness classes, racquetball and sports court, a walking path through the Upland Preserve along with parking for 682 cars. Built in 2016, the asset was designed and built to meet the National Association of Home Builders’ Gold Standard for a green project. Walker & Dunlop represented the seller, HG Management during the disposition.
“Our client continues to raise the bar as it relates to delivering the highest quality product in South Florida,” said Chris Conklin, Walker & Dunlop. “The overwhelming market acceptance, combined with the extremely high barriers for new multifamily developments will prove to be a generational asset in one of the most coveted zip codes in the country.”
