Integra Acquires 304-Unit Heron Pond Condominium In Pembroke Pines For $20.5 Million

The 304-unit Heron Pond Condominium complex is located at 8400 Southwest 1st Street, Pembroke Pines, FL. This condo development encompasses a vacant 25-acre property, which is set for redevelopment. The sale was concluded at a transaction amount of $20,500,000, equating to a price per unit of $67,434. The existing zoning allows up to 321 residential units, with potential for increased density through rezoning.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $20,500,000
• Units: 304
• Price Per Unit: $67,434
• Location: 8400 Southwest 1st Street, Pembroke Pines, FL
• Asset Size: 25.0 acres

The transaction was orchestrated by brokers John Crotty, David Duckworth, Michael Fay, and Brian de la Fé from Avison Young, alongside Lamar Fisher from Fisher Auction Company. Legal representation for the deal was provided by Brian Rich and Michael Niles from Berger Singerman Partners, while Alessandra Stivelman and Alex Alonso from Eisinger Law Partners, along with Dennis Mele from Greenspoon Marder Partner, served as legal advisors.