SUNRISE, FL-2641 N Flamingo LLC, an affiliate of Crescent Heights based in Miami Beach, has purchased the lingering 241 condo units in the Tao condominium located in Sunrise for $50.4 million, which translates into $209,000 per unit. Citibank has offered $31.3 million in loan to the buyer for the acquisition.
A joint venture between the Federal Deposit Insurance Corp. and Starwood Capital Group was the seller of the property.For the full story, go to South Florida Business Journal.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.