MIAMI-MMG Equity Partners has acquired a 35,424-square-foot retail property in Pinecrest through foreclosure after having bought a foreclosure judgment from Coral Gables-based Mercantil Commercebank. The building is located at 9171 S. Dixie Highway.
The bank earlier won a $5-million foreclosure verdict against JRD at 9171 LLC over the retail building. It sold the loan documents and judgment to an affiliate of Miami-based MMG, South 1 Holdings. The building changed hands after MMG presented the winning bid at the auction on June 6. For the full story, go to South Florida Business Journal .
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