Immocorp makes $202M buyout offer for condo building overlooking Mar-a-Lago

A $202 million condo buyout offer is calling to the owners of a West Palm Beach building recently saddled with overwhelming costs, including a $12 million special assessment. Immocorp Capital’s offer breaks down to an average of $1.4 million per unit to the ownership of South Portofino Condominium, the Palm Beach Post reported. If the owners accept the deal, it would rank as one of the most-expensive bulk condo buyouts in Florida history. The 140-unit complex at 3800 Washington Road is across the Intracoastal Waterway from President Donald Trump’s home and private club, Mar-a-Lago. Sky-rocketing home insurance costs and repairs […]This article originally appeared on The Real Deal. Click here to read the full story.