DAYTONA BEACH, FL-Maitland-based NAI Realvest has closed the purchase of 5.44 acres of beachfront development site in Daytona Beach. Toronto-based Bayshore Capital has bought the development site located at 801-905 S. Atlantic Ave. from Birmingham, Alabama-based Regions Bank for $6,000,000.
The site contains three old beachfront motels and four separate lots. The properties were combined together for development of a hotel before Regions Bank foreclosed in 2009. Chris Butera of NAI Realvest represented the buyer in the sale.For the full story, go to Florida Real Estate Journal.
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