(June 24, 2026 – Chicago, IL) – Waterton, a national real estate investor and operator, today announced it will expand its presence in Florida with the acquisition of The Landings at Pembroke Lakes, a 358-unit garden style apartment community located at 10650 Washington St. in Pembroke Pines, FL. The 27-acre community is built around a 45-acre lake offering green spaces, outdoor amenities and lakefront beaches. Waterton will implement a light value add program across residences and common areas at the property to better compete with existing product in this high barrier to entry market.
“The Landings at Pembroke Lakes is well positioned to serve renters seeking a more accessible option in the Fort Lauderdale and Miami region,” said Casey Mog, vice president of acquisitions at Waterton. “With its lakefront setting, green spaces and existing amenities the community provides a strong foundation for a targeted value add program to enhance the resident experience while preserving an attainable housing option in this sought-after location.”
Built in 1989, the property offers a mix of one- and two-bedroom floorplans with screened-in patios or balconies, and in-unit washers and dryers in each residence. Waterton will execute a light value add program to update residences to a modern finish level, including the addition of upgraded appliances, lighting/ceiling fans, plumbing fixtures and countertops.
Amenities include a resort-style pool, clubhouse, fitness center, dog park, tennis courts and sand volleyball courts, which will be refreshed as part of the planned renovation. The firm will also update mechanical systems and add new seating and shade structures to the community’s private lakefront beaches, providing a distinctive outdoor amenity rarely found in garden-style rental communities in the area.
The Landings at Pembroke Lakes is a 10-minute drive from I-75 and Florida’s Turnpike, offering convenient access to job centers in Fort Lauderdale, Doral, Sunrise, Plantation and Miramar. The community is also proximate to seven hospitals comprising over 5,000 beds and is a 10-minute drive from the Miramar Commerce Park business complex, which is home to approximately 15,000 office and light industrial jobs. The nearby Pines City Center offers residents a variety of shopping, dining and entertainment options.
The acquisition brings Waterton's owned and managed multifamily portfolio in Florida to 1,450 units. Walker & Dunlop represented both the buyer and seller in the transaction and also arranged acquisition financing.
About Waterton:
Waterton is a real estate investment and property management company with a focus on U.S. multifamily and hospitality properties. Founded in 1995, Waterton executes value add, core and credit strategies and manages a national portfolio of properties on behalf of institutional investors, family offices and financial institutions. Waterton is privately held and is headquartered in Chicago with regional teams throughout the United States. As March 31, 2026, Waterton’s portfolio includes approximately $10.1 billion in real estate assets. Visit Waterton’s website: www.waterton.com.