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HFF closes sale of 390-unit multi-housing community in Jupiter, Florida

05/18/2015

MIAMI, FL – HFF announced today that it has closed the sale of TGM Vintage at Abacoa, a 390-unit multi-housing community in Jupiter, Florida within the Abacoa master planned community.

HFF marketed the property on behalf of the seller, TGM Associates.
  
TGM Vintage at Abacoa is located at 863 University Boulevard near Roger Dean Stadium, Florida Atlantic University, Abacoa Golf Club, Abacoa Town Center and Abacoa Plaza.  Completed in 2003, the property is 99 percent leased and has 19 two- and three-story buildings that total 451,554 square feet of rentable space.  The property has one-, two- and three-bedroom units and community amenities such as two swimming pools, sauna, 24-hour athletic club, volleyball court, nature preserve with walking path, meditation garden, playground, barbecue area, clubhouse, billiards room, movie theater and car care center.

The HFF investment sales team representing the seller was led by managing director Jaret Turkell and associate director Maurice Habif.

“This property is exceptionally well-poised for strong performance given its excellent location within the Abacoa master planned community. Jupiter features strong demographics and a desirable lifestyle with high paying jobs,” said Turkell.

HFF’s investment sales team secured more than $9.3 billion in sales of multi-housing assets nationally through year end 2014.  In Florida, HFF closed more than $1.3 billion in multi-housing transactions across all capital markets platforms during the same period.

About TGM Associates
Founded in 1991, TGM Associates is a SEC registered investment advisory firm with a single focus -- multifamily properties. TGM, a vertically integrated operating company, specializes in acquisitions, property management, leasing, construction, property maintenance and dispositions. TGM provides investment advisory services regarding the acquisition, management and sale of multifamily properties throughout the United States. An affiliate of TGM provides property management under the brand TGM Communities.  As of June 30, 2015, TGM has approximately $2.3 billion in 125 multifamily properties throughout 28 states.  TGM’s current multifamily portfolio contains properties in 12 states.  For more information please visit www.tgmassociates.com or call John Gochberg at 212-830-9312.

About HFF
HFF and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 22 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.  HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

05/18/2015 - 14:45

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HFF

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