A new apartment community in Pembroke Pines’ sprawling, mixed-use Pines City Center community bagged a $91 million refinancing.
The hefty deal speaks to both the demand for apartments in South Florida and the growth of suburban master-planned communities where residents can live near retail, dining, entertainment and offices. Developers essentially are recreating the coveted live-work-play lifestyle common in downtowns—but this time in suburban, less pedestrian-friendly areas west of Interstate 95 that used to be largely bedroom communities.
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