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MIAMI-New Valley Corp. says it is looking to invest more than $250 million in South Florida real estate as part of its statewide growth plan. The locally based subsidiary of Vector Group Ltd. controls a broad portfolio of real estate investments nationwide, including hotel and condominium projects.

“We have conducted comprehensive market research and due diligence on all types of commercial and multifamily real estate, including bulk residential purchases and bank-owned investment opportunities throughout Florida,” says Vanessa Grout, vice president of acquisitions for New Valley. She says the company has identified numerous value-add opportunities in the greater South Florida area.

New Valley collaborates with financial institutions, builders, developers and attorneys to find real estate opportunities that will inherently boost the community and generate revenues for cities and counties. The company has a 50% ownership interest in Douglas Elliman Realty LLC, the largest residential brokerage company in the New York metropolitan area.

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