Michael R. Haggerty And James O. Buckingham Purchase San Merano At Mirasol Apartments For $193M

The property asset involved in the transaction is located at 99 Portofino Drive in Palm Beach Gardens. This multifamily asset spans 30 acres and comprises 476 units. The total square footage of the property is 621,404. The sale concluded at a price of $193,000,000, resulting in a price per unit of $405,462 and a price per square foot of $311.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $193,000,000
• Units: 476
• Price per Unit: $405,462
• Square Footage: 621,404
• Price per Square Foot: $311
• Buyer: Michael R. Haggerty & James O. Buckingham - TA Realty
• Seller: Stephen A. Schwarzman & Jonathan Gray - Blackstone
• Market: Palm Beach Gardens
• Loan Assumed: $108.55 million CMBS loan from U.S. Bank

The deal involved key individuals Michael R. Haggerty and James O. Buckingham representing TA Realty as buyers. The sellers, Stephen A. Schwarzman and Jonathan Gray, are affiliated with Blackstone. LivCor, Blackstone’s multifamily arm, facilitated the transaction as the seller of the 476-unit San Merano at Mirasol Apartments.