Doral former mayor’s son buys a Regions Bank site in Davie

TRD MIAMI /
Jul.July 03, 2019 03:30 PM
From left: Adam Tiktin, Alejandro Snyder and 5999 South University Dr.

From left: Adam Tiktin, Alejandro Snyder and 5999 South University Dr.

The son of Doral’s former mayor paid $5.6 million for a nearly 1-acre site in Davie leased to Regions Bank.

A company tied to Alexander Boria bought the 41,434-square-foot property at 5999 South University Drive for $135 per square foot, records show. The seller is Trapeza, which is managed by Theodoros and Sofia Karachalias, according to records. The sale is part of a 1031 exchange.

Trapeza bought the Davie property in 2007, according to records.

Regions Bank has an eight-year lease on the property and has not yet started construction on the bank branch. The property is a corner parcel with direct frontage on University Drive and Stirling Road. The site is near a Burger King and a Home Depot.

Tiktin Real Estate Investment Services’ Adam J. Tiktin and Alejandro Snyder represented the seller in the deal. It was an all-cash deal that closed in 88 days, Tiktin said.

A 1031 exchange allows an investor or developer to defer capital gains taxes by buying certain types of property.

Boria is the son of former Doral Mayor Luigi Boria. The Boria family owns real estate in South Florida. The Venezuelan family also owns TWC The Wise Computer, a firm that distributes electronics in Latin America.

In June, Regions Bank sold its office building at 2800 Ponce de Leon Blvd in Coral Gables for $60 million to TA Realty.

Davie is a town in western Broward County. In December, Boardwalk Properties paid $119 million for a 400-unit apartment complex in Davie, with plans to rename the multifamily property The Avenue.


Related Articles

arrow_forward_ios
2701 Jockey Circle in Davie, FL (Google Maps, iStock)

Leaked bank documents show South Florida real estate’s alleged ties to money laundering

Leaked bank documents show South Florida real estate’s alleged ties to money laundering
Tua Tagovailoa, Clayton Fejedelem, and Kyle Van Noy (Credit: Alika Jenner/Getty Images, Johnson/Icon Sportswire via Getty Images, and Rich Graessle/PPI/Icon Sportswire via Getty Images)

Miami Dolphins players Tagovailoa, Van Noy and Fejedelem buy South Florida homes

Miami Dolphins players Tagovailoa, Van Noy and Fejedelem buy South Florida homes
4002-4082 Oak Landing Drive and Marcus & Millichap’s Joseph P. Thomas, Adam G. Duncan and Alec Demetriou (Credit: Google Maps)

Davie townhome rental project sells for $6M

Davie townhome rental project sells for $6M
From left: Bastian Laggerbauer and Harry Blyden, with 5400 South University Drive

Argentine investor pays $11M for Davie office complex

Argentine investor pays $11M for Davie office complex
Frank Gore and his Davie home (Credit: Getty Images)

NFL’s Frank Gore lists Davie mansion

NFL’s Frank Gore lists Davie mansion
Rendering of Bridge Point 595 and Kevin Carroll

Bridge Development nabs $60M loan for Davie industrial project

Bridge Development nabs $60M loan for Davie industrial project
Lennar's Stuart Miller and a rendering of a Sierra Ranch home

Lennar closes on 89-acre Davie site for single-family home community

Lennar closes on 89-acre Davie site for single-family home community
Starwood Capital CEO Barry Sternlicht and the Summerlake Apartments

Starwood Capital pays $11M for affordable housing complex in Davie

Starwood Capital pays $11M for affordable housing complex in Davie
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...