The Real Deal Miami

Eloquence on the Bay units seized

September 13, 2011 01:36AM

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Eloquence on the Bay
Spanish bank Novacaixagalicia has seized 25 units at The Eloquence on
the Bay condominium in North Bay Village in return for $16.5 million in
debt released for the developer. Last week, 35 units in the building
sold for $21.4 million to a company called Soliva Atlantic. The units
were taken by NCG Eloquence, an affiliate of the Spain-based bank. The
project is a condo conversion. [SFBJ]