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