Thursday, August 9, 2012

ARA South Florida Team Executes Sale of 296 Units in Pembroke Pines, FL

Pembroke Pines, FL  — Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing exclusively on the multihousing industry, announces the sale of the 296-unit Lakes at Pembroke (top left photo), located in Pembroke Pines, FL for $42,000,000. The asset was 96% occupied at the time of sale.š

ARA South Florida-based Principals Marc deBaptiste and Avery Klann, along with Senior Vice President, Hampton Beebe represented LaSalle Investment Management in the sale to Atlanta, GA-based Stockbridge Capital.

 Lakes at Pembroke is located in a prime infill location, set among some of the best schools in the area.š Both Pasadena Lakes Elementary and Pines Middle School were ‘A’ rated for the 2010-2011 school year.

For a complete copy of the company’s news release and to schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact

Lisa Robinson at, 678.553.9360 or
 Amy Morris at, 678.553.9366;
locally, Marti Zenor, at or 561.988.8800.šš