Cortland Acquires The Harbour Cove Apartments in Pembroke Pines

Cortland Acquires The Harbour Cove Apartments in Pembroke Pines for $62.5 Million

In a significant real estate transaction, Cortland has purchased The Harbour Cove apartments in Pembroke Pines for $62.5 million. The 240-unit property, located at 1601 S. Hiatus Road, was sold by Eaton Vance at a price of $260,625 per unit. The deal also included a five-year $47.49 million mortgage provided by Newmark.

The new owners have announced plans to rebrand the community as Cortland Harbour Cove and embark on a series of renovations. These renovations will include upgrades to the apartments such as new kitchens, cabinets, lighting, and plumbing fixtures. Additionally, improvements to the clubhouse, playground, and the addition of a dog park and pickleball court are also in the works.

Situated in the vibrant suburb of Pembroke Pines, The Harbour Cove offers residents a range of amenities including a fitness center, pool, clubhouse, playground, tennis courts, and volleyball courts. The community is also pet-friendly, catering to the needs of all residents.

Pembroke Pines, known for its family-friendly atmosphere and excellent schools, is a sought-after location for both residents and investors. With its proximity to Hollywood and the Everglades, the city offers a mix of urban convenience and natural beauty.

Cortland, a multifamily real estate investment and management company, is known for its focus on providing residents with exceptional living experiences. Eaton Vance, the seller of The Harbour Cove, is a leading investment firm with a long history of delivering attractive returns to its clients.

The acquisition of The Harbour Cove by Cortland represents a significant investment in the Pembroke Pines real estate market and is expected to bring new life to the community. With plans for extensive renovations and a commitment to providing top-notch amenities, Cortland Harbour Cove is set to become a premier residential destination in the area.