Newmark has arranged the $69.95 million sale and financing of Visions at Willow Pond, a 300-unit, garden-style multifamily community located in West Palm Beach. Newmark Multifamily Capital Markets Tal Frydman and Hampton Beebe facilitated the sale on behalf of the seller, Bar Investment Group.
Jim Badolato, Mike McKee and Kippy Donovan of Newmark’s Debt & Structured Finance group secured $50 million in Freddie Mac acquisition financing on behalf of the buyer, Morgan Properties.
Located at 4860 Sandstone Lane, Visions at Willow Pond features one- and two-bedroom floor plans across 17 two- and three-story buildings. The community, built in 1987, offers an amenity package that includes a swimming pool, sundeck, 24-hour fitness center, and clubhouse lounge. The buyer plans to implement a robust capital improvement program to continue in-unit upgrades and enhance community amenities.Â
Situated less than 10 minutes from Downtown West Palm Beach and two miles from I-95, the property provides convenient access to major entertainment and employment centers, including Palm Beach Outlets, The Square and The Breakers Palm Beach.
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