Above: the Caribbean Isles Villas condo in Homestead
A bulk buyer has paid $5.22 million for 79 units at the Caribbean Isles Villas condominium in Homestead. The sale represents about 30 percent of the 252 units that were first delivered at the project in 2006. Continental Real Estate Companies brokered the transaction on behalf of the seller, 13th Floor Investments, which is based in South Florida and acquired the property from the developer in 2008. The buyer was a partnership between investors from Guangdong, China and Vancouver. It was an all-cash deal. — Alexander Britell