This Week’s South Florida Deal Sheet
IMC Equity Group has acquired the Seascape Pointe Apartments community in Homestead for $67M. Angelo Gordon and Miami-based Mast.
Capital sold the 19.3-acre, 292-unit townhouse community after paying $50.8M in 2021 for the asset, Commercial Observer reports.
Santander Bank provided IMC a $48.5M mortgage for the purchase, which was for nearly $230K per unit. The Homestead-Miami Speedway sits nearly 3 miles from the property located at 1140 Southeast 24th Road, which was delivered in 2008.
A lawsuit filed last week in Denver District Court threw up the latest hurdle for proposed development on 155 acres of Denver infill space at the former Park Hill Golf Course at Colorado Boulevard and 35th Avenue.
Save Open Space Denver, a group that advocates the preservation of the former links as open space, filed the suit in an attempt to maintain a 2019 conservation easement that would prevent development on the East Denver site as “protected land,” according to The Denver Post.