AVENTURA, FL-Common Capital Partners, an associate of MG3 Developer Group based in Hollywood, is acquiring a 1.9-acre portion of the Terzetto at Aventura development at 2775 N.E. 185th St. from Ocean Bank for $3.3 million, which is granted for a 205-unit, 22-story condominium.
The bank bought the project in a foreclosure for $49.1 million from Merco Group, who lost the project to its $44 million loan default. An associate of the bank took control of the three sites to develop a 438-condo project. For the full story, go to South Florida Business Journal.
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