Valoro buys former Expansive Edgewater office building at discount

Valoro Capital scored a discount on an Edgewater office building previously owned by flexible workspace operator Expansive. Valoro, led by Francisco Cantor and Alberto Chocron, paid $19 million for the 63,000-square-foot building at 2125 Biscayne Boulevard. The price amounts to $300 per square foot. Chicago-based Expansive paid $21 million, or $332 per square foot, for the five-story building in 2019, according to a news release from Valoro, whose price represents a 10 percent discount from the previous trade. Expansive invested $10 million into updating the building, including creating 130 private offices and updating amenities like the kitchen and tenant lounges. […]This article originally appeared on The Real Deal. Click here to read the full story.