PEMBROKE PINES, FLA. — Chicago-based Waterton has acquired The Landings at Pembroke Lakes, a 358-unit property in Pembroke Pines, 20 miles southwest of Fort Lauderdale. The South Florida Business Journal reports that Coral Gables, Florida-based Bar Invest Group sold the asset for approximately $80.5 million. The 27-acre community is built around a 45-acre lake and features green spaces, outdoor amenities and lakefront beaches.
The Landings at Pembroke Lake was developed in 1989 and includes one- and two-bedroom units with screened-in patios or balconies. Waterton is planning to upgrade unit appliances, lighting, ceiling fans, plumbing fixtures and countertops and will also update mechanical systems and add new seating and shade structures to the community’s private lakefront beaches. Additional amenities include a resort-style pool, clubhouse, fitness center, dog park, tennis courts and sand volleyball courts.