MIAMI-The majority of Biscayne Centre's office space has been sold at a 45% loss. Bank of America, which acquired 143 units in the 173-unit building at 11900 Biscayne Blvd., has sold the units to 11900 Biscayne LLC for $8.1 million.
The banks seized the units in the eight-story building last year after foreclosing on a $14.8-million mortgage. Biscayne Centre comprises 156,849 square feet of space. The buyer, managed by Qpay's CEO, Ami Shashoua, received a $6.48-million mortgage from the bank. For the full story, go to South Florida Business Journal .
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