The Dizengoff Trading Group, an Israeli real estate development and commodities firm, plans to start buying distressed commercial and residential real estate within the next year. The firm has opened an office in Boca Raton and will concentrate on shopping centers and half-sold condo communities, U.S. region manager Ronen Saban said. In July, Dizengoff bought the Shoppes at Monarch Lakes in Miramar, a 64,020-square-foot shopping center, for $8.29 million. Portofino in Jensen Beach, a 118-unit incomplete condominium complex, was another recent acquisition at $6.75 million. [Miami Herald]  [more]

Investment firm Dizengoff Real Estate LLC bought the Shoppes at Monarch
Lakes, a retail shopping center located at 14305 Miramar Parkway in
Miramar, for $8.285 million, or about $129 per square foot. CB Richard
Ellis represented the Chicago-based seller, which was a fund advised by
Prudential Real Estate Investors. Belt & Associates, a related
entity of DBR & Associates LLC and Rubin Real Estate Group,
represented the buyer, a foreign investment group that recently began
to acquire U.S. real estate. The center’s anchor tenant is a
51,420-square-foot Publix grocery store, and the 64,020-square-foot
retail shopping center is currently 100 percent leased. TRD
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