The Real Deal Miami

Casa Bella in Hialeah sells 128 units

July 30, 2010 10:30AM

A Delaware corporation called DREA Group 29 has acquired 128 units,
or nearly 130,000 square feet of salable space, in the Casa Bella condo
at 440 W. 16th Avenue in Hialeah for $7.5 million, according to a Condo
Vultures report based on Miami-Dade County records. The deal represented
a 54 percent discount, after the loan on the property valued the units
at approximately $126 per square foot. The seller was 4400 REPH, which
is controlled by Ocean Bank, which took ownership of the property last
month. TRD