Pembroke Pines Apartment Complex Fetches $226K Per Unit

Oct 20, 2014 No Comments by

Modera Pembroke PinesThe newly completed Modera Pembroke Pines was sold for $226,421 per apartment.

Mill Creek Residential completed the 422-unit project at 10170 S.W. Seventh Street in 2013. Its affiliate, Pines City Center Residences Phase I, recently sold it for $95.55 million to AVR Pembroke Pines.

The buyer, an affiliate of New York-based AVR Realty Co., obtained a $62.1 million mortgage from New York Life Insurance Co.

Mill Creek Residential is currently building the second phase of Modera, which will have 278 units.

 

Source:  SFBJ

 

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