The Real Deal Miami

Property Markets Group completes $15.2M Surfside sale

London firm closes on purchase of Ocean Seven townhome project
By Eric Kalis | June 24, 2014 12:45PM

Ocean Seven rendering

Ocean Seven rendering

A company tied to Kevin Maloney’s Property Markets Group completed the $15.2 million sale of a Surfside townhome project to a London company, The Real Deal has learned.

Greystone Residential, which is managed by Maloney, sold the Ocean Seven Residences & Townhomes at 9501 Collins Avenue in a transaction recorded last week, according to Miami-Dade County records. The company paid $4 million for the land in August 2011. It constructed seven four-bedroom townhomes with more than 4,000 square feet apiece on the property.

Surfside Bal Harbour is the buyer. The company is tied to London-based Matterhorn Capital. No financing was recorded.

The Maloney-managed company agreed to sell the townhomes to Matterhorn’s company back in 2012, according to a Property Markets Group spokesperson. The transaction could not close until the units were completed. That occurred earlier this year.