MIAMI-Grove Plaza, a 46,900-square-foot building in Coconut Grove, was sold at a 52% discount. Boca Raton-based 1st United Bank seized the office building, located at 2900 S.W. 28th Terrace, in 2011 after foreclosing on a $7.14-million mortgage held by Grove Plaza Group and William H. Holly.
Valor Investments bought the building for $3.4 million from 1st United Bank. Esslinger-Wooten-Maxwell Realtors' Chip Black and Silvia Lorenzo represented Valor Investments, while Brenner Real Estate Group's Suzanne Lopez and Helen Weissman represented 1st United in the deal. For the full story, go to South Florida Business Journal .
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