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HG Management sells Fla. apartment complex for $120M

Homebuilder HG Management, through an affiliate, sold the 350-unit Quaye at Wellington apartment complex in South Florida to an affiliate of real estate investment management firm Stockbridge Capital Group for $120 million, the South Florida Business Journal reported.

The environmentally friendly multifamily community sits on a 32-acre site at 1009 Quaye Lake Circle and was built in 2017. The buyer obtained a 10-year, $60 million mortgage from State Farm Life Insurance Co., according to the publication.

Walker & Dunlop Investment Sales represented HG Management in the transaction.