The Real Deal Miami

Integra affiliate buys Hallandale site at $3M discount

February 07, 2014 04:30PM

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301 North Federal Highway in Hallandale Beach

Hallandale Land Ventures, an affiliate of Miami-based firm Integra Investments, acquired an empty, foreclosed development site in Hallandale Beach at a $3.1 million discount off its mortgage.

Jacksonville-based EverBank sold the 2.7 acres of land at 301 North Federal Highway. It foreclosed on Hallandale Park Central Development’s $11.6 million loan in March 2013, then seized the site.

Hallandale Park Central Development bought the site in 2005 for $6.3 million. It had hoped to build a 372-unit residential building with more than 20,000 square feet of retail space. [South Florida Business Journal]Mark Maurer

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