Boca Developers ponders bulk sale at three projects
Sign of the times: In a bid to unload unsold inventory, Boca Developers is contemplating a bulk sale at three of its projects.
Boca Developers is considering a bulk sale of unsold units at three South Florida projects, in a proposed deal that shows how builders are grappling with the ongoing slowdown in the housing market.
If completed, the deal may also indicate that investors are becoming more interested in placing bets now on South Florida’s beleaguered housing sector in hopes of riding the market up when it recovers.
According to documents obtained by The Miami Herald, New York-based Cabot Investment Properties has signed a letter of intent to pay $168 million for 236 units at Marina Grande in Riviera Beach, Peninsula II in Aventura and Oaks I at Biscayne Landing in North Miami.