Fla. Apartments Sell for $66.4Mln

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Fla. Apartments Sell for $66.4Mln

Thursday, January 05, 2006

Pembroke Cove, a 302-unit apartment complex in Pembroke Pines, Fla., has sold for $66.4 million. The property was sold by an affiliate of Northwestern Mutual, which was represented by Apartment Realty Advisors of Boca Raton, Fla. It was purchased by Shoma Development Corp. of Miami, which is expected to convert the eight-year-old property into condominiums. Pembroke Cove sits at 13590 NW Fifth Court, at the corner of Pines Boulevard and Northwest 136th Avenue.