TA Realty Acquires 366-Unit Polo Lakes Multifamily Community In Wellington For $105.5M

The Polo Lakes multifamily community is a 19-acre property located at 1950 Polo Lakes Boulevard in Wellington, FL. The asset, which comprises 366 units, was sold for $105,500,000, equating to approximately $288,251 per unit. The property features a total square footage of 530,918 and has a price per square foot of $199.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $105,500,000
• Buyer: James O. Buckingham & Michael R. Haggerty - TA Realty
• Seller: Michelle Herrick & Jamie Dimon - J.P. Morgan Chase
• Units: 366
• Acres: 19
• Square Footage: 530,918
• Price Per Unit: $288,251
• Price Per Square Foot: $199

TA Realty completed the acquisition of the Polo Lakes community from J.P. Morgan Chase, which had owned the property since its purchase for $47.4 million in 2002. This transaction highlights the ongoing activity in the multifamily market in the Wellington area.