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The Real Deal Miami

Denver group takes Miami industrial site for 65 percent discount

July 25, 2011 09:17AM

Denver-based DCT Pan American has purchased a 14.7-acre vacant site in
Doral for a 65 percent discount off of the distressed property’s
mortgage. The site, which is located on the northeast corner of
Northwest 135th Avenue and Northwest 17th Street, was purchased for $14
million in 2008 but acquired by DCT for $3.13 million. EverBank had
foreclosed on the property’s $8.85 million mortgage. [SFBJ]