Pulso Capital has acquired Stellar at Palm Aire, a new build-for-rent community consisting of 39 townhomes located in the center of the Palm Aire Country Club in Pompano Beach, Fl., for $21.5 million, or $551,282 per unit. The sale and financing were overseen by Berkadia. Effective rent in South Florida rose 25.2% year over year, according to Berkadia Research, driven by an influx of new residents and corporate migrations over the last 12 months.
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ALTARA Properties Successfully Oversees Leasing For 4K+ SF Of Retail At Palm Square In Pembroke Pines
ALTARA Properties has successfully overseen the leasing of 4,087 SF of retail at Palm Square in Pembroke Pines on behalf of the landlord, Galium Capital. Little Mikes Pizza leased 1,887 SF at 9843 Pines Blvd and Next Level Taekwondo leased 1,200 SF at 9815 Pines Blvd. Both sides of the transactions were overseen by Demetri Demascus, managing broker of ALTARA Properties.
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Bar Invest Group Acquires 358-Unit Pembroke Pines Multifamily For $79.5 Million
Bar Invest Group, led by Herve Barbera, has acquired the 358-unit The Landings at Pembroke Lakes for $79.5 million, roughly $222,000 per unit. The property traded at a reported 4.5% cap rate and was 95% occupied at the time of sale.
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16000 Pines Market
Over 6 Months Terra Signed Nearly 60,000 Sq.Ft. In New South Florida Retail Leases
Terra has been one of South Florida’s most active in real estate development through the pandemic. Within the last 6 months Terra has signed nearly 60,000 sq.ft. in new retail leases across Miami-Dade and Broward Counties. Newly signed tenants include Verizon Wireless, AT&T Wireless, Mister 01 Pizza, Panda Express, Pilates Zone and more.
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Galium Capital Closes On Palm Square Retail Center In Pembroke Pines For $20.475 Million
Galium Capital, a Miami-based private equity firm, has closed on Palm Square, a 77,621 SF shopping center in Pembroke Pines, Florida. The sales price was $20.475 million and the closing was overseen by Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI).
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Terra Closes on $91 Million Refinancing For Pines Garden at City Center Apartments in Pembroke Pines
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.
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Terra Launches Leasing For Their Newest Rental Community, Pines Garden at City Center In Pembroke Pines
Terra has launched leasing at its newest luxury rental development, Pines Garden at City Center, ahead of opening to residents this month. The 387-unit residential community is part of Pines City Center, a 47-acre master-planned village rising within the city of Pembroke Pines.
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