As dozens of domestic and international funds scour Florida looking for discounted bulk condo projects, two unrelated ownership groups are trying to dump their portfolios for a combined $225 million.
The sellers are offering a combined 2,680 units scattered amongst 13 projects on Florida's west coast from Tampa south to Fort Myers, according to GlobeSt.com.
The asking price works out to about $17.3 million a project, or $84,000 per unit, on average based on some rough arithmetic.
The pricing and quantity of units in the portfolios are in line with what many of today's bulk buyers are looking for when they come to Condo Vultures® Realty LLC.
The problem is, these projects are being openly marketed. Many funds - both private equity and hedge alike - want to deal directly with sellers who value a quick and quiet transaction.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment