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Integra buys vacant Heron Pond condo complex for $20.5M in Pembroke Pines

The 304-unit property was placed into receivership after all units were vacated due to safety concerns, and it will be marketed and sold as a single fee simple parcel.

Reported · Written up by our desk · Residential

ConnectCRE says Integra has acquired the 304-unit Heron Pond condominium community in Pembroke Pines for $20.5 million.

The outlet reports that all units were vacated because of safety concerns, which led to receivership and the termination of the Condominium Association.

With the association dissolved, the receiver can market and sell the site as a single fee simple sale on an as-is basis.

ConnectCRE adds that the property is in an infill location, with in-place zoning allowing up to 321 units by right, and it could more than double through upzoning or a land use plan map amendment.

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