Torose, Sabal flip Coconut Grove office building for $61M 

Torose Equities and Sabal Investment Holdings flipped a formerly distressed office building in Coconut Grove for a $28 million gain.  The joint venture sold the five-story building at 3480 Main Highway for $61 million in an off-market transaction to Miami-based Azora Private Solutions, led by Juan José Zaragoza and Ignacio Gil-Casares, according to a news release.  Miami-based Torose, led by Scott Sherman, and Irvine, California-based Sabal Investment, led by Pat Jackson, bought the property a year ago in a UCC foreclosure auction by assuming a $32.5 million mortgage with New York-based Madison Realty Capital. Azora Private paid $1,100 per square […]This article originally appeared on The Real Deal. Click here to read the full story.