Azora, Vizcaya Capital Flip Coconut Grove Office Building for $62M
Just a year after buying a boutique office building in Miami’s coveted Coconut Grove neighborhood, Azora Private Solutions and Vizcaya Capital sold it for a nearly $15 million gain. The five-story property at 3250 Mary Street, called the Grove at 3250 Mary, sold for $62.3…
Just a year after buying a boutique office building in Miami’s coveted Coconut Grove neighborhood, Azora Private Solutions and Vizcaya Capital sold it for a nearly $15 million gain. The five-story property at 3250 Mary Street, called the Grove at 3250 Mary, sold for $62.3…
BELLINGS Intelligence Score: 10
Why it matters
This is a routine real estate transaction involving a modestly sized office building flip, reflecting ordinary market activity without broader implications for credit markets or underwriting standards.
Sources
Commercial Observer
Azora, Vizcaya Capital Flip Coconut Grove Office Building for $62M
Just a year after buying a boutique office building in Miami’s coveted Coconut Grove neighborhood, Azora Private Solutions and Vizcaya Capital sold it for a nearly $15 million gain. The five-story property at 3250 Mary Street, called the Grove at 3250 Mary, sold for $62.3…