The Real Deal Miami

Venezuelan vulture group buys foreclosed Cynergi condos for $31 million

October 01, 2009 01:51PM

A Venezuelan investment firm has purchased 98 units in Cynergi, the foreclosed Miami condominium project owned by Banco Popular, for $30.6 million. The project sold only four apartments in the 102-unit tower before the 12-story building went into foreclosure. Venezuelan investors Hugo Amaya and Vicente Carrillo manage Wellmeaning Properties, the listed buyer of the condos.