Fund sells Pembroke Pines condo for $28.25 million

, Daily Business Review


A fund established by the partnership of Miami-based Related Group and Lubert-Adler at the height of the recession to acquire distressed properties has sold 240 units at The Marquesa condominium in Pembroke Pines for $28.25 million. The transaction closed Nov. 30.

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What's being said

  • Jack McCabe

    The $120M note was purchased for $50M, a 60 percent discount from note face value.

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