TPA Group obtained a $51 million loan from Deutsche Bank’s New York branch for a massive, mixed-use development in Pembroke Pines, Flordia.
Plans for the development placed between 1200 and 1300 SW 145th Avenue along Interstate 75 include three office buildings, 350 apartments and a hotel, though the developer is still waiting for approvals.
TPA purchased the assemblage of parcels for a combined $17.3 million between 2017 and 2021, according to property records. So far, the site holds a 177,346-square-foot office building called Edison Pembroke Pines, which was delivered in 2019.
Last month, TPA filed an amendment to rezone 7.6 acres near the office building for the construction of 350 apartments. The Pembroke Pines City Commission will vote on the proposed amendment on Aug. 4.
Drawings of the site show plan to develop two other office buildings, a 125-room hotel, and two parking garages.
Deutsche Bank’s loan marks TPA’s third on the property Synovus Bank first loaned $6.5 million in 2017 and $17.4 million a year later.
Atlanta-based TPA has acquired, developed, and sold more than $25 billion in real estate investments. Its portfolio includes office, industrial and retail properties in the Southeast.