MIAMI BEACH-LeaseFlorida has sold a South Beach site andacquired the mortgage on a SoBe hotel. Alan I. Waserstein, theowner of LeaseFlorida, has sold the 0.7-acre parcel at 1201-1225Collins Ave. to CG Tides Villages for $12.5 million.
The buyer has plans to construct a hotel on the site and connectit to the Tides Hotel with a bridge. In another deal, LeaseFlorida5th ST LLC acquired the distressed note on the 84-room Plaza Hotelfrom MUNB Loan Holdings. For the full story, go to South Florida Business Journal .
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