Finvarb Group, led by Ronny Finvarb, has acquired The Landon Bay Harbor Hotel for $10 million, roughly $219,000 per key. The seller was BHI Hotel who acquired the property in 2007 for $3.9 million. The property was listed with David Cohen and Arthur Porosoff with Compass as well as David Greenberg with Marcus & Millichap.
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Last Mile Investments Acquires Jupiter Retail Plaza From Elion Partners For $18.5 million
The Cincinnati-based Last Mile Investments have acquired the Pennock Square retail plaza in Jupiter for $18.5 million from the North Miami Beach-based Elion Partners, led by Shlomo Khoudari. Huntington National Bank financed the deal with a $12.95 million mortgage.
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Carlos Mattos And Family Acquire Waterway Shoppes of Weston For $20.45 Million
An entity tied to the Mattos family, led by Carlos Mattos and his children, Nicolas and Isabella Mattos, have acquired the Waterway Shoppes of Weston for $20.45 million, roughly $501 per square foot. Waterway Shoppes of Weston was developed in 1999 and was acquired by the seller, Waterway Ventures LLC, an entity tied to Fondo Atlas and Dylan Fonseca, for $15.3 million in May 2015.
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Aimco Acquires Hamilton On The Bay Multifamily In Edgewater For $89.6 Million
The 275 unit bayfront multifamily rental tower Hamilton on the Bay in Miami’s Edgewater neighborhood has sold for $89,600,000, which breaks down to roughly $330,000 per unit. Rani Hussami of Marcus & Millichap’s Hussami Rockson Group represented the seller, Properties of Hamilton, Inc. in the transaction.
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NNN Leased Pollo Tropical Building on Biscayne Blvd. in MiMo Trades For 4.61% CA
A NNN leased Pollo Tropical stand-alone restaurant building located on Biscayne Blvd/ US-1 in Miami’s MiMo district, has traded for $2.275 million, equating to a 4.61% CAP rate. The 1,754 SF restaurant building sits on a 12,800 SF lot located at 7501 Biscayne Blvd in Miami, FL.
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Galium Capital Closes On Palm Square Retail Center In Pembroke Pines For $20.475 Million
Galium Capital, a Miami-based private equity firm, has closed on Palm Square, a 77,621 SF shopping center in Pembroke Pines, Florida. The sales price was $20.475 million and the closing was overseen by Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI).
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