The Dubai-based DAMAC Properties, who was revealed as the she stalking horse bidder for the site of the former Champlain Towers South in Surfside, Florida which tragically collapsed in June 2021, has closed on the site for $120 million. DAMAC Properties, led by billionaire developer Hussain Sajwani, is planning to develop a Cavalli branded condo project on the site.
Read MoreThe Dubai-Based DAMAC Properties Revealed As $120 Million Stalking Horse Bidder Of Site Of Collapsed Surfside Condo
The stalking horse bidder for the site of the former Champlain Towers South in Surfside, Florida which tragically collapsed in June 2021 has been revealed as the Dubai-based DAMAC Properties, led by billionaire developer Hussain Sajwani.
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Avison Young's Michael T. Fay Launches Marketing For The Former Site Of Champlain Towers South In Surfside
Pursuant to the direction of the Honorable Judge Michael A. Hanzman and the court appointed receiver Michael Goldberg, Avison Young, led by Michael T. Fay, has officially launched the marketing process for the sale of the Champlain Towers South site in Surfside, Florida.
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Distressed Office Building In Lake Worth Auctioned On Ten-X For $5.5 Million
A distressed office building in Lake Worth, FL has successfully been auctioned on the Ten-X online auction platform as the sale reflects the low inventory yet high demand for distressed and medical office assets. JFK Medical Building, located at 4801 South Congress Ave. in Lake Worth, closed for $5.55 million.
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AB Asset Management Acquires Residence Inn Coconut Grove From Hersha Hospitality Trust
AB Asset Management has acquired the Residence Inn Coconut Grove, a three-building, 140-unit hotel at 2835 Tigertail Avenue in Miami’s vibrant Coconut Grove neighborhood. The 2 acre property sold for $31 million, which breaks down to roughly $221,429.
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DRA Advisors Lists Pinnacle Corporate Park Portfolio In Fort Lauderdale
A fund managed by DRA Advisors LLC has entrusted Avison Young’s Florida Capital Markets Group to sell Pinnacle Corporate Park, a two-building, class A office portfolio at 500 and 550 W. Cypress Creek Road in Fort Lauderdale, Florida. The asset totals 259,458 square feet on 14.31 acres in Broward County’s Cypress Creek submarket.
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Avison Young’s Florida Capital Markets Group Oversees Sale Of Concept II Towers In Lake Worth
Avison Young’s Florida Capital Markets Group has overseen the sale of Concept II Towers in Lake Worth for $10.9 million to local real estate investor Allen Chelminsky. The 6.6-acre complex, located at 2290-2328 10th Ave., features a pair of office towers which were developed in 1985.
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Avison Young Oversees Zaragon Acquisition of RAM Steel Framing Headquarters For $7.55 Million
Avison Young’s Florida Capital Markets Group closed the $7.55 million industrial sale-leaseback of the 105,000 SF RAM Steel Framing headquarters location at 7400 N.W. 37th Ave. in Miami. Zaragon, Inc., purchased the property.
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Moishe Mana Closes On Acquisition of Former City National Bank In Downtown Miami For $25 Million
Billionaire real estate investor Moishe Mana has closed on the $25 million sale of 25 West Flagler Street, an assemblage of three adjacent parcels totaling 29,000 SF of land in Downtown Miami’s Central Business District (CBD). The property features redevelopment potential of up to 80 stories and ±696,000 SF, as of right.
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Avison Young Oversees Sale Of $70 Million Transformco Distribution Center To Reich Brothers
Avison Young’s Florida Capital Markets Group has overseen the sale and closing of the Transformco Distribution Center, the largest single-building industrial asset in Florida spanning nearly 2 million SF, to Reich Brothers. The transaction closed for $70 million for the 1,937,892-square-foot Transformco Distribution Center, located at 655 SW 52nd Ave. in Ocala.
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