Broward County properties have become an increasingly hot commodity in recent months, as evident by two recent bulk condo deals in the South Florida county.
Miami-based Sonata Grand LLC recently purchased 22 units at Sonata Beach Club for $9.7 million in Pompano Beach, according to the Sun-Sentinel.
And a couple of weeks ago, Village East Investment LLC purchased 68 units at Village East in Fort Lauderdale for $7.65 million.
These deals are the latest in a string of multi-million dollar investments in the area. Since 2008, there have been 71 bulk deals in Broward, Miami-Dade and Palm Beach counties totally more than $2.1 billion.
Many of these investors end up turning around and selling these units to international buyers, many of whom are purchasing with cash.
This was the case of Aventura-based McKafka Development Group, which purchased 64 units at Las Olas by the River in July for $8.7 million. Since then, the company has sold 50 of the units to international buyers, many of whom have paid cash.
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