Major investors like TIAA-CREF sometimes take unconventional routes to acquire coveted South Florida real estate assets.
The real estate account of the New York financial services giant last week obtained ownership of The Residences at Merrick Park apartment complex in Coral Gables through a $52.25 million transaction, according to Miami-Dade County records. TIAA-CREF on Aug. 1 took title to the complex by assuming a sublease for the underlying land at 4250 Salzedo St.
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