Miami portfolio trades for $12.5M

Miami /
Dec.December 16, 2013 12:45 PM

A five-property site that includes the former U.S. Citizenship and Immigration Services building in Miami has changed hands for $12.5 million, The Real Deal has learned.

Fifteen 7880, a company managed by Miami-based Fifteen Group, sold the properties to Florida Fullview Immigration Building, according to Miami-Dade County records. Florida Fullview is also based in Miami. State corporate records identify Leo Wu as manager of the buying company.

The transaction closed on Nov. 26 and was recorded by the county on Thursday.

Florida Fullview’s acquisition includes the 7880 Biscayne Boulevard office building previously occupied by the government agency, two small office buildings, a retail building and nearly one-acre commercial parcel. The agency left the office building in 2008, four years before it was purchased by the Miami-based developers

Fifteen had applied to convert the existing building into a mixed-use tower with 295 residential units and 32,800 square feet of commercial space over the summer. Architecture firm ADD Inc., which is also heading up adaptive reuse work on the South Shore Hospital and Miami Heart Institute, prepared the design plans.

It is unclear how the ownership change would impact the proposed redevelopment of the site. — Eric Kalis


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