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Over the past few years, South Florida has been the recipient of a massive influx of foreign capital. It has been widely reported over the past year that foreign investors, primarily from Spain and South and Central America, and almost always paying with cash, have swept up the majority of vacant boom-time condominium units—according to the Miami Downtown Development Authority, more than 93% are now sold. But the revival of the residential condominium industry is only the tip of the iceberg—many recent foreign investments are astonishing in their scope and diversity and stand to benefit the region in a transformative, lasting fashion.

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