FT. LAUDERDALE, FL-Mckafka Development Group (MDG) has sold 23 condominium units at Village East to foreign investors from Argentina, Venezuela, Austria and France. MDG snapped up the 68 remaining units in an $8.7-million bulk acquisition on Feb. 14.

MDG bought the distressed inventory at a deep discount, allowing the firm to offer investors sales prices up to 50% lower than market value before the housing crisis. Specifically, one- and two-bedroom units are selling from between $155,000 and $171,000.

Village East was originally a 264-unit rental building that had been converted to condominiums by its previous owner DEVCO LLC in 2005. The distressed inventory was purchased at a significant discount which has enabled MDG to offer its investors a sales price that is up to 50% lower than the market value before the housing crisis. One- and two-bedroom units available range in size from 794 square feet to 1,054 square feet and are priced between $155,000 and $171,000.