Pensam recently completed a preferred equity investment for the acquisition of a 180-unit multihousing apartment community in Coral Springs, Florida. Pensam’s preferred equity investment was structured behind senior debt from Freddie Mac.
The property has a prime location in The City of Coral Springs, an affluent suburban city in Broward County located near some of South Florida’s largest employment centers, including: Sawgrass Park, Cypress Park, and Boca Raton Office Park.
“This investment is a strong addition to Pensam’s growing preferred equity program in the dynamic South Florida market,” said Michael Stein, founding partner of Pensam Capital. “The property represents a unique investment in a stabilized property with large townhouse-style floor plans and proven value-add potential.”