The Real Deal Miami

Delayed Pembroke Pines condo conversion sells for $68M

July 01, 2008 02:23PM

Two out-of-state firms bought parts of a stalled Pembroke Pines condo conversion, Devonaire at Winston, for $68 million, about $146,552 per unit. Pittsburgh-based Deaktor Development sold phases two and three of the Broward County condo project, a total of 464 units, to Chicago-based Equity Residential. Equity has three other rental projects in Pembroke Pines: Landings at Pembroke Pines, Gatehouse at Pine Lake and the Winston.