The Real Deal Miami

Bulk buyer grabs 79 condos in Pembroke Pines

Heron Pond units trade for more than $8 million
July 22, 2014 03:45PM

Calum Weaver and Richard Tarquinio

Calum Weaver and Richard Tarquinio

A Parkland company picked up 79 units at Heron Pond Condominiums for more than $8 million.

Heron Pond Holdings paid $101,582 per unit for the Pembroke Pines condos, according to Tuesday’s written announcement from CBRE, which arranged the transaction. The company is managed by Navneet Barbaria and Anjali Khosa. No financing was recorded by Broward County.

The seller is Heron Pond Investments of Miami. Built in 1989, the 304-unit Heron Pond includes 19 two-story garden-style buildings.

CBRE brokers Richard Tarquinio and Calum Weaver represented the seller. They were assisted by the firm’s Robert Given, Zachary Sackley and Gerard Yetming.

“The 79 units attracted a significant amount of investor interest,” Weaver said. “We received over 100 confidentiality agreements and 14 offers. The units were virtually fully occupied and provide immediate positive cash flow with the potential to sell individual units at a premium in the future.” — Eric Kalis