US·Acquisition·Multifamily
Dermot Company and partners buy 340-unit Palm Beach Gardens luxury apartments from PGIM for $132M
Value
$131.8M
Location
Palm Beach Gardens, Palm Beach County, Florida
Date
2026-02-27
Companies
The Dermot Company, PGGM, TD Asset Management, PGIM Real Estate, Affinius Capital, Walker & Dunlop
The Dermot Company, together with partners PGGM and TD Asset Management, acquired The Quaye at Palm Beach Gardens, a Class A 340-unit multifamily complex on 31 acres in Palm Beach Gardens, Florida, from PGIM Real Estate for $131.8 million. Affinius Capital originated a $110 million acquisition loan arranged by Walker & Dunlop. The Quaye, opened in 2016, features primarily townhome-style units with direct-access garages, plus a pool, fitness center, clubhouse, and EV charging infrastructure.
multifamily
Source
Commercial Observer