302-UNIT PEMBROKE COVE FETCHES $38.1 MILLION

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FORT LAUDERDALE, FLA. — Jenkintown, Penn.-based Scully Co. has purchased the 302-unit Pembroke Cove Apartments from a private investor based in South Florida for $38.1 million. The property, located on Pines Boulevard in Fort Lauderdale, encompasses 31 two-story apartment buildings. The complex features a fitness room, an indoor racquetball court, two tennis courts, a pool and garages for each unit. Rosendo Caveiro and Brad Capas of Cushman & Wakefield’s Miami and Fort Lauderdale offices, respectively, brokered the transaction.

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