Sunday, May 20, 2018
Real Estate

Tampa-based HG Management books $120 million sale in South Florida

TAMPA — HG Management of Tampa on Friday said it has sold a 32-acre apartment and townhome project, The Quaye at Wellington, in Palm Beach County for $120 million.

The Quaye at Wellington was completed in spring of 2017 with a total of 350 units, including one-bedroom garden apartments and two-, three- and four-bedroom townhomes.

The sales price translates to $342,857 per unit, which is close to the $347,941 that HG Management got last year in its $118.3 million sale of a 340-unit complex, the Quaye Palm Beach Gardens.

HG Management has built more than $1 billion in residential retail developments, among them Arbor Greene, a 650-acre community in New Tampa, and Stonelake Ranch a 685-acre lake and equestrian community on Lake Thonotosassa.

PREVIOUS COVERAGE: Upscale digs draw flocks of homebuyers

The company’s commercial projects include the Tampa Bayside Marina and The Bank of Tampa building on Bayshore Boulevard.

Outside the Tampa Bay area, HG Management has completed two hotels in Orlando with two more in development, and has built residential projects in Venice, Coral Springs, Boynton Beach and Hartford, Conn.

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Contact Richard Danielson at [email protected] or (813) 226-3403. Follow @Danielson_Times

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