The Real Deal Miami

Bankruptcy judge approves $37.7M sale of Fashion Mall

Co-developers of Miami Worldcenter had winning bid
By Mike Seemuth | March 20, 2015 12:30PM

Fashion Mall in Plantation and Art Falcone

Fashion Mall in Plantation and Art Falcone

Judge John K. Olson today approved a $37.7 million sale of the vacant Fashion Mall in Plantation to an entity affiliated with Encore Housing Opportunity Fund, which made the winning bid in a bankruptcy auction Thursday.

“The trustee is pleased for the creditors who will be paid in full as well as for the City of Plantation, which will benefit as a result of the sale to Encore,” attorney Glenn Moses said in a prepared statement. He is a shareholder of Genovese Joblove & Battista, the law firm representing the trustee in the Chapter 7 bankruptcy case.

Boca Raton-based Encore has several South Florida developments under way. It is co-developing Miami Worldcenter, a mixed-use development covering 10 blocks just north of Miami’s central business district; Platinum Residences, an 18-story condominium project at 700 North Ocean Boulevard in Fort Lauderdale, and Aventura Isles, a master-planned community in North Miami.

The vacant Fashion Mall  is an enclosed shopping center with about 828,000 square feet of leasable space on 32 acres of land at 321 North University Drive in Plantation.

Art J. Falcone, co-founder, managing principal and investment committee member of Encore could not be reached for comment Friday morning.