A Texas real estate investment trust with multiple South Florida holdings acquired a vacant site in Miami’s Brickell financial district for $15.4 million, the Daily Business Review reported.
Behringer Harvard bought the site from Brixriv LLC, which is managed by Miami-based Bridgeloan Investors. The site at 130 Southwest 12th Street, just southwest of the Brickell Metromover station, has two vacant parcels as well as two small apartment buildings with a total of 34 units.
Brixriv took title to the site via a foreclosure auction in June 2011. Behringer’s portfolio includes the Franklin Delray in Delray Beach, the Lakes of Margate in Margate and Satori in Fort Lauderdale, the publication said. [Daily Business Review] – Mark Maurer