The Real Deal Miami

Pembroke Cove sold

December 19, 2008 12:40PM

A Pennsylvania-based investment group bought the Pembroke Cove
Apartments, a 302-unit complex in Southwest Broward County, for $38.1
million, or $126,160 a unit. The property, located at 13401 NW 5th Street
in Pembroke Pines, was sold by a South Florida-based private real
estate development company. The complex is almost fully occupied, and
features 31 two-story buildings on 23.4 acres. Jenkintown,
Pennsylvania-based
Scully Co. owns 22 apartment communities in Florida, New Jersey,
Pennsylvania and Connecticut. Three of those properties are located in
Broward County.