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Monday, March 15, 2010

Commercial Real Estate Development Company Acquisition


BOCA RATON - Commercial Real Estate News reports that The Dizengoff-Trading Group, which is an Israeli-based trading and real estate development company, has completed the acquisition of 115 units. The Units are at the Condominiums at Courtney Park. The location is 5080 Lantana Road in Lake Worth, Florida. The purchase price was for $6.86 million, which comes to $59,652 per unit.

After this transaction, it gives Dizengoff control of 60% of the 192 units at the complex.
The Seller was Bank of America N.A. Dizengoff now owns approximately 233 condo units in South Florida.

A Condominium Building is a great investment although not a Net Leased Property, it still is a great property to own.

This Commercial Real Estate transaction for Condominiums at Courtney Park is in close proximity of the Publix Super Market at 5970 Jog Road. Publix are excellent properties if you can find a Single Tenant Net Lease free-standing Property.