Bethesda, Maryland – August 9, 2017
Walker & Dunlop, Inc. (NYSE: WD) announced today that it closed a $87,000,000 investment sale for Town City Center, a newly constructed, Class AA apartment community in Pembroke Pines, Florida.
Greg Engler, Roberto Pesant, and Chris Conklin led the Walker & Dunlop Investment Sales (WDIS) team, which represented both The Related Group, the seller, and Rockpoint Group, LLC, who purchased the asset.
Town City Center enjoys a strategic location in the heart of Broward County, just 20 miles away from both Miami and Fort Lauderdale. The community is part of the master-planned Pembroke Pines City Center development, which is expected to deliver a new retail concept adjacent to the property’s site.
Mr. Pesant commented, “This transaction exemplifies strong investor demand for well-located, stabilized core assets across the South Florida multifamily market. Town City Center will prove to be prime investment property for Rockpoint.” Adding that, “It was an honor to work on this sale with such a talented group of professionals.”
Built in 2016, Town City Center is a best-in-class multifamily complex consisting of 365 units with luxury finishes and modern styling. The garden-style property offers studios, one-, two-, and three-bedroom apartments, as well as two-bedroom townhouses with attached garage entry. In-unit features include patios and porches, high-end washers and dryers, porcelain tiling, stainless steel appliances, and designer vanities. The complex also boasts a luxury amenity package, complete with a two-level fitness studio, pool deck, cabanas, private waterside dock, private screening room, and tennis courts. Located on 11 acres of land with upscale shopping centers, golf courses, restaurants, and nightlife nearby, the lakeside community is one of the most desired in the county.
WDIS is one of the nation’s leading multifamily brokerage platforms and is active in representing and advising clients throughout the United States. In 2016, the team completed over $500 million in sales in the South Florida region alone. For more information, please visit Walker & Dunlop Investment Sales> or browse our recent closings.
About Walker & Dunlop
Walker & Dunlop (NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate services and finance companies in the United States providing financing and investment sales to owners of multifamily and commercial properties. Walker & Dunlop, which is included in the S&P SmallCap 600 Index, has over 600 professionals in 28 offices across the nation with an unyielding commitment to client satisfaction.