August 9, 2019
Residential and commercial development firm Terra Group secured a $91-million loan to refinance Pines Garden at City Center, a 387-unit apartment community in Pembroke Pines. The lender was an affiliate of Mack Real Estate Group. Terms of the financing were not disclosed.
Located at 10400 Southwest City Center Blvd., the community is part of Pines City Center, a 47-acre master-planned village featuring approximately 300,000 square feet of lifestyle-oriented retail, entertainment and restaurant space. Roughly 40% of the units at Pines Garden are leased after opening to residents three months ago.
The community consists of one- to three-bedroom garden apartments and two- or three-bedroom townhouses. Monthly rents start at $1,645 for one-bedroom apartments. Amenities include a two-story Pines Garden Clubhouse, fitness center, children’s playroom, game room, resort-style pool, co-working lounge and coffee bar, as well as other recreational options.
It’s time to register for this year’s Connect Texas Multifamily Conference on Aug. 15! For information and to register, click here.
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