search

The Real Deal Logo

Trending

Tides’ original investors may be wiped out by preferred equity dealTides’ original investors may be wiped out by preferred equity dealLA court strikes down SB9 law allowing single-family lot splitsLA court strikes down SB9 law allowing single-family lot splitsMajor developers are converting South Florida malls into mixed-use projectsMajor developers are converting South Florida malls into mixed-use projectsBushburg buying Rudin’s half-empty FiDi office building for $160MBushburg buying Rudin’s half-empty FiDi office building for $160M
South Florida

Bulk buyers take CityPlace units

CityPlace South Tower

Sign Up for the undefined Newsletter

An investment firm based in Dallas is purchasing the remaining 308 units
in CityPlace South Tower in downtown West Palm Beach. According to a
source familiar with the deal, the price of the project is between $63
and $65 million, which works out to around $180 per square foot. The
firm, Gulfstream Capital Partners, is expected to close on the deal
tomorrow. Related, the developer of the project, had handed over control
of all 420 units to a lending group led by Scotia Capital in a friendly
foreclosure. [SFBJ]