The Real Deal Miami

Cervera buys out partner in 1800 Biscayne Plaza retail, condo portfolio

May 17, 2011 03:29PM

Real estate investor Javier Cervera has bought out his partner and paid off the debt for a portfolio of seven condos and 20,000 square feet of ground-floor retail space at Miami’s 22-story 1800 Biscayne Plaza, according to the South Florida Business Journal. Cervera, who spent $7 million in the deal, is now seeking to sell off the condos and lease the retail space. Cervera would not disclose to the identity of his partner except to say that it was someone in the entertainment industry, but public records suggest that it was Cecile Barker, chairman of the board of Miami Beach’s SoBe Entertainment. Now that she’s out of the picture, Cervera has tapped Metro Consultants to help him manage the assets. [SFBJ]