- •Friday, February 11th, 2011- Sonata Grand LLC spent 9.7 million for 22 units at Sonata Beach Club in Pompano Beach.
- Last week, Village East Investment LLC paid $7.65 million for 68 units at Village East in Fort. Lauderdale.
The trend seems to be to break up the units bought and sell them to international buyers, typically paying cash. Investors anticipate selling the units at double the price once sold individually.
As of 2008, investment groups have completed 71 bulk deals in Palm Beach, Broward and Miami-Dade counties and these sales are likely to continue. Buying in bulk reduces the liability of investors, thanks to a bill passed last year.
The infusion of capital is positive news for the aforementioned counties and definitely helps to get things going for South Florida Housing.
