A 390-unit multifamily community in Jupiter, Fla., recently sold to a confidential buyer for an undisclosed amount free and clear of debt.
The property, Vintage at Abacoa, is located on 22 acres at 863 University Blvd. close to the new Scripps Research Institute headquarters that is currently under construction. Completed in 2003, the 95 percent occupied property has 19 buildings with one-, two- and three-bedroom units averaging 1,158 square feet each.
Community amenities include two pools, concierge services, a clubhouse, a fitness center, a sports club, a volleyball court and a car care center.
Tarragon Corp., a home builder based in New York City, sold the asset.