Bethesda, Maryland – August 17, 2017
Walker & Dunlop, Inc. (NYSE: WD) announced today that it closed an investment sale for The Quaye at Palm Beach Gardens (The Quaye), a 340-unit, Class AA apartment community in Palm Beach Gardens, Florida. Newly constructed with ‘Award Winning’ quality in 2016, The Quaye won the prestigious South Florida Business Journal’s ‘Best Green Project of the Year’ as well as ‘Best Amenities’ in the 2016 Southeast Florida Circle of Winners contest. The asset was designed and built to meet the National Association of Home Builders’ Gold Standard for a green project.
Walker & Dunlop Investment Sales team, led by Greg Engler, Chris Conklin, and Roberto Pesant, represented HG Management LLC in the sale of the asset in July, 2017. Mr. Conklin remarked, “Our client continues to raise the bar as it relates to delivering the highest quality product in South Florida. Located in a “Super Zip” surrounded by multi-million-dollar homes, The Quaye represents one of the finest multifamily garden communities delivered to date.”
“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,” continued Mr. Conklin.
Rick Lococo with HG Management LLC commented, “On behalf of Jeff Meehan, Charlie Funk, myself and our great team, I would like to thank everyone involved for all of the hard work that went into The Quaye at Palm Beach Gardens. We truly felt that our apartments/townhomes were a perfect fit for the city of Palm Beach Gardens.”
Situated on 34 acres of land, which encompasses eight acres of Upland Preserve and six acres of lakes, The Quaye includes an 11,000 square-foot clubhouse with a fitness center, kids’ playroom, multi-purpose sports court, clubroom with four 65-inch televisions, coffee and juice bar, business center, multi-purpose game simulator, and state-of-the-art demonstration kitchen. Other community amenities include a walking path throughout the preserve, 3,000 square-foot dog park, and pool area consisting of an Olympic-style lap pool and gazebo with fully equipped kitchen. The Quaye is located in a premier residential neighborhood minutes from I-95 and the Florida Turnpike. Residents have easy access to major job hubs, education facilities, shopping centers, and green space in the area, including Whole Foods, The Gardens Mall, Palm Beach Outlets, Abacoa Town Center, public parks, and nationally renowned golf resorts and spas.
Located in South Florida, where Walker & Dunlop’s Investment Sales team has closed over $1.3 billion in sales over the last 30 months, Palm Beach Gardens has one of the largest business concentrations in this region, with a multitude of corporations calling the city home.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate services and finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties. Walker & Dunlop, which is included in the S&P SmallCap 600 Index, has over 600 professionals in 28 offices across the nation with an unyielding commitment to client satisfaction.