Israel based ASRR Capital and the Suzer Group, a Turkey based LLC, have acquired a 41 tower unit and paid a staggering $40 million. Located at 8955 Collins Avenue the transaction took place off market and is located next to the Surf Club Four Seasons Hotel and Private Residences. Tenants will move within 30 days and in its place will be an 80 room hotel with beach club that will be a continuation of the Four Seasons development.

The building is zoned for 12 stories and will be complete in 2.5 years. Investors remarked that the acquisition made fiscal sense by relating Miami as a continuation of New York. Their entrance into the Miami real estate market is not the first nor the last, as many international interests are setting their sights on South Florida. New Developments in South Florida are so frequent they are often hard to keep track of and there is no shortage of preconstruction opportunities. If you are looking to purchase a preconstruction in Miami, contact Serge Kay today!