Don King averts foreclosure, sells Deerfield Beach warehouse for $11M

Don King averted a knockout punch to his real estate investments after selling a distressed Deerfield Beach warehouse for $11 million. The legendary 93-year-old boxing promoter, who lives in Boca Raton, sold the property for more than double what he owed on an allegedly delinquent mortgage.  An affiliate of Straticon, a Boca Raton-based construction firm, bought the 46,467-square-foot office and industrial building at 501 and 555 Fairway Drive, records and real estate database Vizzda show. The deal breaks down to roughly $237 a square foot.  An entity managed by King paid $3 million for the property in 2000, records show. […]This article originally appeared on The Real Deal. Click here to read the full story.