{"id":1004051806,"date":"2012-06-22T08:14:19","date_gmt":"2012-06-22T16:14:19","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=53756"},"modified":"2020-04-07T04:23:42","modified_gmt":"2020-04-07T12:23:42","slug":"dizengoff-sells-bulk-portfolio-for-25-4m-breakers-capital-buys-west-palm-beach-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dizengoff-sells-bulk-portfolio-for-25-4m-breakers-capital-buys-west-palm-beach-building\/","title":{"rendered":"Dizengoff Sells Bulk Portfolio for $25.4M; Breakers Capital Buys West Palm Beach Building"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Georgiana Mihaila, Associate Editor<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/06\/jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-53757\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/06\/jpg.jpg\" alt=\"\" width=\"300\" height=\"181\" \/><\/a><\/em><\/p>\n<p>The real estate arm of Dizengoff-Trading Group has sold its South Florida bulk portfolio for $25.4 million, reports <em>CoStar<\/em>. The portfolio, comprised of two properties\u2014Portofino at Jensen Beach and Courtney Park in Lake Worth, consists of 283 condo units overall.<\/p>\n<p style=\"text-align: justify\">The Portofino at Jensen Beach, a Class A garden community located near the shores of Florida\u2019s Treasure Coast in Martin County, was built as a rental apartment in 2002 and converted into a condominium in 2006. The average unit size is 1,084 square feet, and its amenities include a resort-style swimming pool, hot tub, state-of-the-art gym, indoor racquetball court, tennis court, landscaped playground, private clubhouse and business center.<\/p>\n<p style=\"text-align: justify\">Dizengoff had acquired 118 units of the 384-unit condominium complex in September 2009 for $6,750,000, or approximately $57,200 per unit ($53 per square foot).<\/p>\n<p style=\"text-align: justify\">The second property, Courtney Park, is a 192-unit garden-style community located along Lantana Road in Lake Worth. The property offers a mix of functional floor plans and is located close to major arteries, employment centers and recreation. ARA South Florida-based Principals Marc de Baptiste and Avery Klann, as well as Senior Vice President Hampton Beebe, represented the seller\u2014Dizengoff Real Estate LLC.<\/p>\n<p style=\"text-align: justify\">In other local news, Miami-based Breakers Capital Partners has acquired a Class A, 11-story building in West Palm Beach for slightly under $18.5 million. The property was 87 percent occupied at the time of purchase, with a list of tenants that includes the Internal Revenue Service, 1st United Bank, Uniters North America and Walton Lantaff.<\/p>\n<p style=\"text-align: justify\">CBRE, who arranged the sale of the property, has also secured $13.725 million in acquisition financing for the buyer, with its vice president Anthony Librizzi being retained to provide leasing services.<\/p>\n<p style=\"text-align: justify\"><em>Image: Portofino at Jensen Beach via Dizengoff Group Official Site<\/em><\/p>\n<p style=\"text-align: justify\">For more market data from Miami, <a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-new-construction-expected-in-miami-as-vacancies-fall-and-employment-prospects-loom\/1004052721.html\" target=\"_blank\" rel=\"nofollow\">click here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The real estate arm of Dizengoff-Trading Group has sold its South Florida bulk portfolio for $25.4 million, reports CoStar. The portfolio, comprised of two properties&mdash;Portofino at Jensen Beach and Courtney Park in Lake Worth, consists of 283 condo units overall.<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1492,21742],"tags":[],"class_list":["post-1004051806","post","type-post","status-publish","format-standard","hentry","category-miami","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Dizengoff Sells Bulk Portfolio for $25.4M; Breakers Capital Buys West Palm Beach Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/dizengoff-sells-bulk-portfolio-for-25-4m-breakers-capital-buys-west-palm-beach-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dizengoff Sells Bulk Portfolio for $25.4M; Breakers Capital Buys West Palm Beach Building\" \/>\n<meta property=\"og:description\" content=\"The real estate arm of Dizengoff-Trading Group has sold its South Florida bulk portfolio for $25.4 million, reports CoStar. The portfolio, comprised of two properties&mdash;Portofino at Jensen Beach and Courtney Park in Lake Worth, consists of 283 condo units overall.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dizengoff-sells-bulk-portfolio-for-25-4m-breakers-capital-buys-west-palm-beach-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2012-06-22T16:14:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-07T12:23:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2012\/06\/jpg.jpg\" \/>\n<meta name=\"author\" content=\"the Editors of Commercial Property Executive\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dizengoff-sells-bulk-portfolio-for-25-4m-breakers-capital-buys-west-palm-beach-building\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/dizengoff-sells-bulk-portfolio-for-25-4m-breakers-capital-buys-west-palm-beach-building\\\/\"},\"author\":{\"name\":\"the Editors of Commercial Property Executive\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1b82b91678533ae5d40e3240086a42bb\"},\"headline\":\"Dizengoff Sells Bulk Portfolio for $25.4M; 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