Shahab Karmely’s secret backer in SoFla real estate is hedge fund titan Dan Loeb: sources

Sign Up for the undefined Newsletter

From TRD South Florida: Shahab Karmely’s KAR Properties announced itself in swashbuckling fashion on the South Florida scene with a series of big, all-cash purchases of parcels along the Miami River, in Hallandale Beach and in Wynwood. The firm spent over $112 million on acquisitions since 2013, and millions more on pre-development costs. Which led many in the market to ask: How exactly was Karmely pulling it off?