Condo bulk buyers enliven market [South Florida]
As the year starts winding down, real-estate investors have begun closing on large blocks of South Florida condominium units — known as “bulk deals” — at a quickening pace.
The burst of new activity indicates investors — mostly seasoned real-estate professionals from other markets and abroad — perceive the new construction market is nearing bottom, according to analysts.
Since the end of October, investors have closed on five bulk transactions totaling 518 units and 710,500 square feet throughout Miami-Dade County.
The combined purchase price for four of the five deals was $43 million.