Floresta apartments in Jupiter sold for $76M

TGM Associates sold the Floresta apartments in Jupiter’s Abacoa community for $76 million. TGM Floresta LLC, an affiliate of the New York-based company, sold the 311-unit complex at to Northland Floresta, an affiliate of Newton, Mass.-based Northland Investment Corp. Jamie May of JBM Institutional Multifamily Advisors was the broker on the deal. Walker & Dunlop financed the deal with a $52 million mortgage. The price equates to $244,373 per unit. “Floresta is an exciting addition to our growing…