Commercial Real Estate Is Alive And Well In Florida
Per The Real Deal, commercial real estate investors paid record breaking prices to acquire some of South Florida’s most beautiful buildings.
Sellers made record profits too, sometimes as much as 79% profit.
Here are the top three!
The Lincoln Road Portfolio sold for $342 million scoring a 79% profit for Terranova and Acadia.
Las Olas Centre sold for $204 million by USAA real estate.
Bought by the real estate investment business of Deutsche Bank’s Asset Management Division.
It counts among its tenants as JP Morgan Chase, Morgan Stanley and Wells Fargo.
Coming in third is the Shore Club, selling for $175.3.
Managed by New York based HFZ Capital Group, this building has already secured 13 reservations for condos starting at $ 2 million dollars.