JP Morgan Chase Sells South Florida Rental for $106M
By Julia Echikson September 22, 2026 2:30 am
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J.P. Morgan Chase sold a garden-style multifamily property in Wellington, Fla., for $105.5 million after owning it for nearly a quarter century, according to property records.
TA Realty purchased the 366-unit Polo Lakes community at 1950 Polo Lake Boulevard, just north of the Mall at Wellington Green, adjacent to Route 441, in the town best known as a leading equestrian hub. Built in 2000, the 19-acre property features 27 three-story buildings, as well as a basketball court and a pool.
The sale equates to about $288,000 per apartment. J.P. Morgan Chase had purchased the 530,918-square-foot property for $47.4 million in 2002.
TA Realty, which specializes in multifamily and industrial assets, has been making inroads in South Florida.
Last year, the Boston-based firm paid $118 million for a 300-unit property in Pembroke Pines and $193 million for a 476-unit asset in Palm Beach Gardens. On the industrial front this year, TA Realty bought an industrial park near Miami International Airport for $48 million.
A spokesperson for J.P. Morgan Chase’s asset management division declined to comment, while a representative for TA Realty did not immediately respond to requests for comment.
Julia Echikson can be reached at jechikson@commercialobserver.com.
