{"id":351353,"date":"2026-07-24T18:06:09","date_gmt":"2026-07-24T18:06:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/351353\/"},"modified":"2026-07-24T18:06:09","modified_gmt":"2026-07-24T18:06:09","slug":"integra-acquires-evacuated-broward-condo-complex-via-court-ordered-auction","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/351353\/","title":{"rendered":"Integra Acquires Evacuated Broward Condo Complex Via Court-Ordered Auction"},"content":{"rendered":"

Integra Investments<\/a> closed on a 37-year-old condo complex in Broward County deemed unsafe for occupants after years of back-and-forth with the court-appointed receiver.<\/p>\n

\"Placeholder\"\/<\/p>\n

\n Courtesy of Avison Young\n <\/p>\n

\n The 25-acre Heron Pond condo complex at 8400 SW First St.\n <\/p>\n

Miami-based Integra purchased the 304-unit, 19-building Heron Pond in Pembroke Pines for $20.5M in a court-appointed receivership auction, according to a release.<\/p>\n

Heron Pond, originally built in 1988 as an apartment complex before being converted into condos in 2000, has been vacant since summer 2024, when the city declared the building unsafe and residents were forced to evacuate.<\/p>\n

Residents had been dealing with severe maintenance<\/a> issues like termite damage, rotted wood beams, design flaws and construction that couldn’t withstand high winds.<\/p>\n

Avison Young<\/a> principals\u00a0John Crotty<\/a>, David Duckworth<\/a>, Michael Fay<\/a> and Brian de la F\u00e9 led the marketing and auction process, along with Fisher Auction\u00a0Co. CEO Lamar Fisher, President Francis Santos and Executive Vice President Paul Fisher.<\/p>\n

\u201cThe competitive process ultimately led to an outcome that maximized value and provided a clear path toward redevelopment of this unique infill site,” Crotty said in a statement. “In today’s market, opportunities of this size and scale in Broward County are exceptionally rare.\u201d<\/p>\n

The complex was first approved to sell\u00a0in August 2024 when the receiver, Daniel Stermer, ruled that repairs would be too costly and selling the site was the best option.<\/p>\n

Those plans were put on pause when two condo owners\u00a0sued the receiver<\/a>,\u00a0essentially blocking the action.<\/p>\n

Heron Pond\u00a0was scheduled<\/a>\u00a0in June 2025 to hit the auction block as the team pursued a condo termination, and a month later, Integra Investments\u00a0entered the race<\/a> as a stalking horse bidder with a $20.5M offer for the 25-acre site at 8400\u00a0SW First St.<\/p>\n

But the sale was halted again when Federated Foundation Trust, which owned more than 100 units at the complex, challenged the process by claiming that it was unfairly prevented from bidding, The Real Deal reported<\/a>.<\/p>\n

A judge gave Federated a chance to outbid Integra with a $24M offer, but the company was unable to\u00a0come up with the funds.\u00a0<\/p>\n

The site’s zoning allows for up to 321 units, which could double with upzoning or utilizing a land use plan map amendment, according to the release.<\/p>\n

Crotty told\u00a0Bisnow in a statement that Integra will move forward with obtaining entitlements for the property, which could take up to two years. At that point,\u00a0it will decide whether\u00a0it wants to develop the site on\u00a0its own, find a partner or sell it.<\/p>\n","protected":false},"excerpt":{"rendered":"Integra Investments closed on a 37-year-old condo complex in Broward County deemed unsafe for occupants after years of…\n","protected":false},"author":2,"featured_media":351354,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[46796,143706,249,251,250,123871,143707,69925,6920],"class_list":["post-351353","post","type-post","status-publish","format-standard","has-post-thumbnail","category-fort-lauderdale","tag-avison-young","tag-david-duckworth","tag-fort-lauderdale","tag-fort-lauderdale-headlines","tag-fort-lauderdale-news","tag-integra-investments","tag-john-crotty","tag-michael-fay","tag-pembroke-pines"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/351353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=351353"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/351353\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/351354"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=351353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=351353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=351353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}