MIAMI—Plaza San Remo, a Whole Foods-anchored retail condominium in Coral Gables, FL, has a new owner. And for once it's not a foreign buyer snapping up assets from an American seller. Indeed, it's just the opposite.
LIC Coral Gables Retail, Inc., a German investment group advised by Phoenix Property Company of Dallas, sold the asset to an institutional investor. The retail property traded for $38.7 million free and clear of debt.
The HFF investment sales team representing the seller was led by senior managing director Danny Finkle, director Luis Castillo, and senior real estate analyst Kim Flores. HFF's investment sales team secured more than $1.7 billion in sales of retail assets nationally through the third quarter of 2013.
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