Fort One Real Estate Investments, an investment fund with roots in Miami and Washington, D.C., said it has completed transactions in Miami Beach totaling $52 million.
In a news release, Fort One said it has closed on the purchase of the 48 remaining unsold condominium units at the Capri South Beach Condominium ($31 million); the acquisition of the ``Pelican'' parking garage in South Beach ($11 million), plus the two commercial/retail units at The Strand in South Beach ($10 million).
The fund was represented by Adams Gallinar, whose founding partners are Bob Adams and Mike Gallinar. The transaction was structured as a short sale, with I-Star Financial being the successor to the original lender, Fremont.
I-Star Financial provided mortgage financing on the Capri project, and Sabadell United provided mortgages on the Pelican and Strand properties. I-star was represented by the Washington, D.C., firm of Katten Muchen, and Sabadell United was represented by the Miami office of Bilzen Sumberg.
Source: http://www.miamiherald.com/2010/06/10/1672971/fort-one-completes-miami-beach.html
Miami Herald Staff Report
The Criscitos has been selling South Florida luxury and commercial real estate for over a decade and has sold over $1 billion dollars of property. They work as a multi-lingual team speaking english, Spanish, Italian and Portuguese. They carved out a niche as a leading boutique real estate company with two distinct divisions -residential and commercial- both personally overseeing by Marcela and Anthony Criscito.
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