Terra, a South Florida-based residential and commercial development firm, has closed on $91 million in financing for its newest multifamily community, Pines Garden at City Center in Pembroke Pines. The firm secured the loan through an affiliate of Mack Real Estate Group. With approximately 40% of its apartments already leased just three months after opening to residents, Pines Garden at City Center is Broward County’s latest example of suburban mixed-use development combining retail and residential uses within one pedestrian-friendly property. Located at 10400 Southwest City Center Boulevard, the recently completed 387-unit luxury rental development is part of Pines City Center, a 47-acre master-planned village featuring approximately 300,000 SF of lifestyle-oriented retail, entertainment and restaurant space including to Publix, Cooper’s Hawk, Outback Steakhouse, West Marine, BurgerFi, Smoothie King, Bento Café, Halal Guys, UFC Gym and a movie theater.
“Our ability to close this significant loan reflects the early leasing success we’ve experienced at Pines Garden, the significant demand for luxury rentals in Pembroke Pines, as well as the strong relationship between Terra and Mack Real Estate Group,” said David Martin, president of Terra. “Our team created a master plan comprising high-end rental homes and lifestyle-centered retail that will service the community’s tenants as well as surrounding residents. The result is a condensed area of development that is introducing a new amenity for Pembroke Pines and maximizing value for the neighborhood.”
Pines Garden at City Center offers one- to three-bedroom garden apartments and two- or three-bedroom townhouses covering 651 to 1,491 SF of living space, as well as private balconies and terraces. Modern-designed residences are equipped with stainless steel appliances and quartz countertops, and protected by hurricane-grade, impact-resistant windows. High ceilings, extra-wide baseboards, custom cabinetry and designer fixtures exhibit an attention to detail usually reserved for custom-built homes. Monthly rents begin at $1,645 for a one-bedroom apartment; $1,795 for a two-bedroom apartment; and $2,256 for a three-bedroom apartment. Two- and three-bedroom townhouses range from $2,475 to $2,845 per month.
Amenities include a two-story Pines Garden Clubhouse, the social center of the neighborhood, which features a state-of-the-art fitness center, children’s playroom and game room, resort-style pool, co-working lounge and coffee bar, outdoor cooking area and other recreational options. There’s a gazebo, a life-size chess board, a dog park, and play spaces that include an enclosed tot-lot area. Gated for privacy and security, Pines Garden offers the beauty and serenity of a nature preserve within walking distance of the urban conveniences of Pines City Center.