Integra offers $21M stalking horse bid for distressed Pembroke Pines condo complex

Integra Real Estate offered $20.5 million for a sprawling Pembroke Pines condo complex in receivership, setting the floor price for an upcoming auction of the distressed property.  Miami-based Integra — led by Nelson Stabile, Paulo Tavares de Melo, Victor Ballestas and Cory Yeffet — was selected as the stalking horse bidder for Heron Pond, the 25-acre complex at 8400 Southwest First Street, according to a purchase and sale agreement included in court filings. The stalking horse bid breaks down to $820,000 per acre.  The property consists of 19 two-story lakefront buildings with 304 condo units. Embattled Heron Pond, which had […]This article originally appeared on The Real Deal. Click here to read the full story.