The Real Deal Miami

Related affiliate pays $13M for Fort Lauderdale site

January 05, 2012 12:00PM

A stalled development site in Fort Lauderdale has been purchased by an affiliate of the Related Group, according to the South Florida Business Journal. The seller was Jesse Gaddis, who owns Yellow Cab taxi, and seized the site in 2010 after foreclosing on a $12.6 million mortgage to Minto Communities. Related purchased the site through RD Flagler Village for $13 million. [SFBJ]