Revealed: Buyers of 6 Coconut Grove Properties in Bankruptcy Sale
B & B Grove Properties LLC bought the six lots for $5.4 million in a deal that closed this week.
November 08, 2017 at 05:52 PM
7 minute read
Peter Russin and Daniel Gonzalez of Meland Russin and Budwick, and Corali Lopez-Castro of Kozyak Tropin & Throckmorton. The $5.4 million purchase of six lots along Miami's Grand Avenue is the latest development for a storied stretch that's been mired in lawsuits, including a bankruptcy filing, and is home to dilapidated buildings and vacant parcels.
Two well-heeled investors are the buyers behind a company that bought the Coconut Grove lots in a bankruptcy sale, according to attorneys familiar with the transaction.
The buyers are William Berkley, executive chairman of Connecticut-based insurance holding company W.R. Berkley Corp., and Bruce Berkowitz, the founder and chief investment officer of Miami-based mutual fund Fairholme Capital Management LLC.
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