Dizengoff stakes South Florida claim

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]