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Softbank CFO sells luxury condo at Surf Club in Surfside
He made about $1.4M on the unit in five months
UPDATED, 6 p.m., June 4: It looks like Softbank executive Alok Sama’s investment in Miami’s preconstruction condo market paid off.
Sama, president and CFO of the Japanese telecommunications giant, sold a unit at the Four Seasons Residences at the Surf Club for $5.4 million, about $1.4 million more than what he paid for the condo earlier this year.
Property records show Sama, who resigned from the company last year, sold unit 505 in the south tower of the Surf Club at 9001 Collins Avenue to Free Reach LLC, a Delaware LLC.
He closed on the 2,201-square-foot unit in January for $3.95 million.
Sama resigned from the group’s SB Investment Advisers last year, according to published reports. He is a director at ARM Holdings, Fortress Investment Group, SoftBank Group Capital, Brightstar Corp. and Baer Capital Partners, according to his LinkedIn profile.
In December, Softbank’s founder and CEO Masayoshi Son joined as a part-owner of David Beckham’s Major League Soccer team in Miami. Softbank has poured billions into tech-focused startups over the last few years, including $6 billion last year alone into WeWork, Compass, Katerra and Lemonade – all real estate firms. Fort Partners, led by Nadim Ashi, completed the Four Seasons-branded development last year. Buyers include hedge funder Daniel Nir, Theory co-founder Andrew Rosen and South Florida auto magnate Alan Potamkin.
An earlier version of this story misidentified Sama’s title.