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.
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Stevan Stanisic
Real Estate Advisor | License ID: SL3518131
Real Estate Advisor License ID: SL3518131