The Real Deal Miami

Entity tied to Argentina’s Kirchner regime sells CVS in Little Havana for $13M

CVS has a long-term lease on the property, which ends in 2042 with five five-year extensions

July 22, 2016 12:00PM
By Katherine Kallergis

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CVS in Miami's Little Havana neighborhood

CVS in Miami’s Little Havana neighborhood

A Florida company with ties to former Argentinian president Nestor Kirchner has sold a CVS Pharmacy store in Miami’s Little Havana for $13.1 million.

Located in the heart of Little Havana, the CVS property sold for nearly $630 a foot for the building and $136 per square foot for the land, records show.

Mother Queen Inc., previously controlled by Kirchner’s former top aide Sergio Todisco, sold the building at 1177 Southwest Eighth Street to 976 Miami RE LLC, a New Jersey company led by L. John Wilkerson, founder and senior adviser of the healthcare company Galen Partners. Wilkerson financed the deal with a $3.2 million mortgage from Stonegate Bank.

Little Havana has seen significant investment activity this cycle with developers banking on the area’s potential. CVS has a long-term lease on the property, which ends in 2042 with five optional five-year extensions. The 20,835-square-foot store was completed in 2012 and sits on a 2.2-acre lot.

Last week, the Miami Herald reported that Todisco and his ex-wife Elizabeth Ortiz were being investigated by a federal prosecutor in Argentina over alleged money laundering for the Kirchners’ associates, and/or even the Kirchners themselves. Todisco and Ortiz spent close to $65 million on real estate, most of which was on luxury condos in South Florida, between 2010 and 2015.

While Todisco was picking up condos, he was also the director of a British Virgin Islands-based firm called Gold Black Limited. The offshore company was included in the Panama Papers, a massive leak of documents from Panamanian law firm Mossack Fonseca earlier this year.

The entity that sold the CVS in Little Havana paid $12.12 million for the property in 2012, property records show. It’s currently controlled by Perla Aydee Puente Resendez of the Coconut Grove-based law firm Roca Gonzalez, now the registered agent of most of the Florida companies, as well as Gold Black Limited.