The Real Deal Miami

South Florida venture closes on $4 million deal for 264 units in Sunrise, Orlando

April 06, 2010 09:39AM

Miami-based Pensam Capital, and Brycor Holdings, based in Broward, have together closed on a pair of deals totaling $4 million for 264 units in Sunrise and Orlando.
The Sunrise deal is for 72 units at Heritage Greens, and the Orlando
transaction involves a purchase of 192 units at Willow Bend. The two
buys were a package deal from PBE Companies, which had received the
properties in a transfer from Sovereign Bank, the bank that had foreclosed on
the units. Pensam Capital is an equity partner in the joint venture
along with Heritage Green Residences and Willow Bend residences, and
Brycor is the operating partner. TRD