Fortune Capital Partners buys 135 condominium units from RAIT Financial Trust

Fortune Capital Partners buys 135 condominium units from RAIT Financial Trust

Published at: 2015-12-30 15:30 | Author: CIJ Florida
Fortune Capital Partners has completed the acquisition of a 135-unit condo portfolio near the Miami Executive Airport for $17.5 million. The deal includes over half of the units in the Vista Lago condominiums which had been converted into condominiums after having been an apartment community, but sales apparently fell off in 2009. The Philadelphia-based RAIT Financial Trust bought the units in 2010 and had been renting out the units.

Similar Stories:

Chestnut Hill Village in Philadelphia changes hands for $170m
Chestnut Hill Village, a multifamily property located within Philadelphia’s Chestnut Hil  »
S2 Capital acquires five-property multifamily portfolio in Florida
S2 Capital has secured $53.6m in bridge financing for the acquisition of a five-property m  »
Ortega Pines in Jacksonville sells for $10.8m
Quad Property Group bought Ortega Pines, a 152-unit class C community in Jacksonville, Flo  »
Balfour Beatty Communities expands Florida resi portfolio
Balfour Beatty Communities and its joint venture partner, Apex One Investment Partners, pu  »
Hurricane Hermine had the entire state of Florida on the edge of its seat in September. It   »
South Florida’s condo market is readying for a soft landing rather than the crash that m   »
There are approximately 17,000 units in Miami in presale, sold or under construction. Abou   »
The same year Orange County builders pulled 11,000. Fast forward to 2010 and those numbers   »