search

The Real Deal Logo

Trending

H-E-B snags 21 acres in Celina, hinting at development boomH-E-B snags 21 acres in Celina, hinting at development boomHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudHGTV’s “Mr. Flip It” gets four years in jail for $10M fraudLawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aRent board’s 4% hike will “plunge” buildings into distress: landlordsRent board’s 4% hike will “plunge” buildings into distress: landlords
South Florida

Plaza Del Rey fetches $11.6M

Plaza Del Rey
Plaza Del Rey

The Plaza Del Rey shopping center in Miami changed hands for $11.6 million, The Real Deal has learned.

PDR Holdings of Miami sold the 10000 West Flagler Street center last week, according to Miami-Dade County records. The company is managed by Martin Pico. It paid about $10.8 million for the nearly 52,000-square-foot center in March 2006.

Sign Up for the undefined Newsletter

Plaza Del Rey LLC of Miami Lakes is the buyer. It assumed a $7.9 million mortgage from a commercial mortgage-backed securities lender as part of the transaction. Rolando Hernandez is identified in loan documents as the manager of the buying company.

Built in 1987, Plaza Del Rey is anchored by Navarro Discount Pharmacy.

Drew Kristol and Kirk Olson of Marcus & Millichap represented both the seller and buyer in the transaction.

Tags
Miami