Mexican billionaire drops $6.5M on Porsche Design condo

Porsche Design Tower in June
Porsche Design Tower in June

A company tied to Mexican billionaire Carlos Peralta Quintero paid $6.54 million for a condo at Gil Dezer’s Porsche Design Tower.

Peralta is the chairman and CEO of Grupo IUSA, a Mexico City-based conglomerate with businesses in the manufacturing, metering systems, automotive, education, agriculture, publishing, telecommunications and other industries, according to Bloomberg. IUSA partnered with General Electric in 1998 to make and sell electric meters in Mexico and the U.S., and nearly a decade later started manufacturing solar water heaters, according to the company’s website.

Peralta is also known for his blind $50 million investment to the former Mexican president’s brother, Raul Salinas de Gortari in the early 1990s. The New York Times reported in 1996 that Peralta’s money ended up in a Swiss bank account under an assumed name used by Raul Salinas de Gortari, the older brother of former President Carlos Salinas de Gortari. Salinas, who Swiss authorities suspected got his money from drug trafficking or money laundering, said the money was for a venture capital fund to invest in real estate projects, but there was no paperwork to back that up, the Times reported.

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Records show CPQ Property Holdings LLC purchased unit 1101 at the Sunny Isles Beach tower. Peralta, who lists an Indian Creek address in incorporation documents, manages the entity. Desarrollo Inmobiliario PT, S. De R.I. DE C.V., a Mexican company, owns the waterfront 3.67-acre estate at 31 Indian Creek Island Road, purchased for $12.9 million in 2001. (The company name translates to real estate development.)

At Porsche Design Tower, Peralta is in good company.  So far, records show buyers at the newly completed luxury condo tower at 18555 Collins Avenue include Colorado Rockies player Carlos  “CarGo” Gonzalez, Brazilian media  Edir Macedo, known as “the Bishop,” Russian businessman Igor Yakovlev, and the head of a Brazilian investment firm.

The 132-unit, 60-story building has an estimated $840 million sellout. Its amenities include the widely publicized “Dezervator,” a car elevator that takes residents in their cars up to their units, balcony plunge pools, and racing and golf simulators.