The Real Deal Miami

Venetian Parc sells for huge discount

October 06, 2010 09:45AM

The Venetian Parc residential project has been sold for 70 percent less
than the value of its mortgage. The bank was in a foreclosure action
filed in September of last year by FirstBank Puerto Rico, a $39.4
million suit which named Quantum Ventures, along with two managing
members, as defendants. The site is on 116 acres west of Zoo Miami along
SW 176th Street in southern Miami-Dade County. [SFBJ]