 |
| Modera Pembroke Pines Apartments Phase II, Pembroke Pines, FL |
 |
| Matthew Lawton |
MIAMI, FL –
June 8, 2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has
closed the sale of and secured acquisition financing for the newly-completed Phase II of Modera Pembroke Pines, a
two-phase, luxury multi-housing community totaling 700 units in Pembroke Pines,
Florida.
HFF marketed
the property on behalf of the seller, a joint venture between affiliates of
Mill Creek Residential Trust and Clarion Partners. AVR Realty Company purchased Phase II for
$62.948 million. HFF also worked on
behalf of AVR to secure acquisition financing through New York Life Real Estate
Investors.
In October 2014, HFF closed the sale of and
arranged acquisition financing for Phase I of the project with the same
involved parties.
Modera
Pembroke Pines is located at 10170 SW 7th Street near Pines Boulevard and Palm
Avenue in the Broward County suburb of Pembroke Pines.
Situated on 27.2 acres, the project is the
first component of Pembroke Pines City Center, a mixed-use, walkable master
planned community. Phase I of
the project was completed in early 2014 and includes 422 units, which are 95
percent leased.
 |
| Jaret Turkell |
Completed in May 2015,
Phase II is comprised of 278 units. Both
phases of the property include a mix of one-, two- and three-bedroom units in
both flat and townhome configurations.
Community
amenities will include two beach-entry swimming pools, two fitness centers, two
business centers, two demo kitchens, two game rooms, two clubhouses and
available private garages and storage units.
The HFF
investment sales team representing the seller was led by executive managing
directors Manny de Zárraga and Matthew
Lawton, managing director Jaret
Turkell, director Matt Mitchell
and associate director Maurice
Habif.
HFF’s debt
placement team was led by managing director Elliott Throne.
For a complete copy of the company’s
news release, please contact:
Olivia
Hennessey
Public
Relations Coordinator
HFF | 9
Greenway Plaza Suite 700 | Houston, Texas 77046
tel
713.852.3403 | fax 713.527.8725 | www.hfflp.com
No comments:
Post a Comment