El-Ad assembles second Coconut Grove dev site with $62M office building buy 

El-Ad National Properties is assembling development sites in Miami’s Coconut Grove, paying $62.3 million for an office building next-door to a condo building it bought in recent months, The Real Deal has learned.  An entity tied to Boca Raton-based El-Ad National bought The Grove at 3250 Mary offices at 3250 Mary Street, according to records.  Azora Private Solutions and Vizcaya Capital sold the five-story, 80,000-square-foot building, according to a news release from Berkadia, whose Omar Morales and Jaret Turkell represented the sellers in the deal. BHI provided a $78.2 million loan to El-Ad for the purchase of the Coconut Grove […]

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