search

The Real Deal Logo

Trending

Tides’ original investors may be wiped out by preferred equity dealTides’ original investors may be wiped out by preferred equity dealLA court strikes down SB9 law allowing single-family lot splitsLA court strikes down SB9 law allowing single-family lot splitsLandlords to Rent Board: The Bronx will burn againLandlords to Rent Board: The Bronx will burn againHomeServices of America strikes $250M settlementHomeServices of America strikes $250M settlement
South Florida

REIT buys vacant site in Brickell for $15.4M

Metromover station in Brickell
Metromover station in Brickell

A Texas real estate investment trust with multiple South Florida holdings acquired a vacant site in Miami’s Brickell financial district for $15.4 million, the Daily Business Review reported.

Sign Up for the undefined Newsletter

Behringer Harvard bought the site from Brixriv LLC, which is managed by Miami-based Bridgeloan Investors. The site at 130 Southwest 12th Street, just southwest of the Brickell Metromover station, has two vacant parcels as well as two small apartment buildings with a total of 34 units.

Brixriv took title to the site via a foreclosure auction in June 2011. Behringer’s portfolio includes the Franklin Delray in Delray Beach, the Lakes of Margate in Margate and Satori in Fort Lauderdale, the publication said. [Daily Business Review] – Mark Maurer