Miami

The acquisition brings Passco's multifamily portfolio in the state of Florida to nine properties totaling more than 2,700 units.

The company has spent more than $188 million in capital investments in its West Palm Beach facility since 2000.

The completed project, totaling 250,000 square feet of commercial space, is expected to be delivered in the fourth quarter of 2019.

Located just south of Interstate 595 and minutes from Interstate 95 and Florida's turnpike, the site attracted five bids, ranging from $12 million up to the final sale price of $13.9 million.

Thirty-three-year-old Steve Kassin and his partners, Etienne Locoh and David Berg, of Infinity Real Estate, LLC have been steadily making their mark on Miami real estate by refreshing the faces (and facades) of some of the area's most noteworthy historic buildings.

The two-story White Building totals 29,042 square feet, split between retail condominium space on the ground floor and an office condominium on the second floor. The second floor office condominium will remain occupied by the White Family Law Firm.

“Miami and Florida as a whole is attracting Americans leaving high-tax states such as New York as the new tax law cuts into their income-tax deductions.”

The deal announced today between NextEra Energy of Juno Beach, FL and Southern Co. of Atlanta includes the assumption of $1.4 billion of Gulf Power debt.