Stockbridge Capital Group buy Florida resi scheme for $120m

Stockbridge Capital Group has acquired a 350-unit, class AAA multifamily community in the village of Wellington, Florida. The company paid $120m or just under $342,860 per unit for the newly completed property. Located on 10 acres, The Quaye at Wellington features a 10,500 sq ft clubhouse with a fitness center, multi-purpose sports court, golf and sports simulator, boxing ring and a demonstration kitchen. The community includes townhome units that feature direct-access garages with fully-equipped electric car charging outlets. Walker & Dunlop Investment represented the seller, HG Management. Walker & Dunlop has closed three new South Florida apartment development transactions for HG Management, totaling nearly $350m.