Miami real estate investments have savaged the share price for Africa Israel Investments, the development conglomerate founded by diamond baron Lev Leviev. Published reports say his company has lost about $1.4 billion since the end of 2007, with development projects in both Florida and Russia swinging results to a loss. Africa Israel bought large parcels of downtown Miami real estate in a partnership with Shaya Boymelgreen at the height of the property boom.
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