Miami-Area Community Chooses New Management
- Mar 15, 2018
Monument Real Estate Services, the owner of Blue Lake Villas in Pembroke Park, Fla., has taken over management of its 226-unit Miami-area apartment community.
The management change comes after Monument’s long-time partner, Essay Management, sold its stake in the property in February 2018, according to Yardi Matrix. The firm recently landed an $18.5 million loan from Bank of America, which it will partially use to update the units and exterior of the asset, now rebranded as Azure Villas.
Located at 3252 S.W. 52nd Ave., the property sits between Miami and Fort Lauderdale, two miles east of Interstate 95. A number of Broward County Transit-operated bus stations enable access throughout the area.
The property’s 51 one-story buildings sit on 13 acres and include a mix of one- and two-bedroom units, containing a respective 675 and 979 square feet. Community amenities include a swimming pool, laundry facilities and a playground. On-site parking is also available.
Image via Google Maps