The Real Deal Miami

Brickell short sale moves 88 units

August 16, 2010 09:45AM

Brickell Sunview

U.S. Century Bank approved the short sale of an 88-unit apartment
complex in Brickell for 25 percent less than the amount of the
construction mortgage on the property. Developer Pedro Villar sold the
Brickell Sunview Aug. 5 for $11.6 million to Mary Brickell Village
Hotel, which is led by Miami-based investor/realtor Ruben Balda.
Brickell Sunview obtained a $15.5 million mortgage in 2006 on the
property, which is at the southeast corner of SW 10th Street and SW
Second Avenue. [SFBJ]