TA Realty Pays $105M for Wellington Rental Community
JPMorgan Investment Management sold The Polo Lakes Apartments in Wellington for more than twice what it paid. The South Florida Business Journal reports JP Morgan paid $47.75 million for the property in 2002. TA Realty paid $105.45 million for the same 366-unit rental community in 2026.
Totaling 520,918 square feet, Polo Lakes was built on the 19.2-acre site in 2000. It includes a pool, clubhouse, tennis court, and basketball court.
Polo Lakes units range from 795 to 1,554 square feet and rent from $1,974 to $5,341.
This is its largest apartment deal in South Florida since it acquired an apartment complex in Pembroke Pines for $118 million in early 2025.
Founded in 1982, TA Realty has over $19 billion of total assets under management.
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout