Luxury home developer owes partner in battle over stalled Pinecrest spec home
Devtov Group, the luxury home builder led by Juan Carlos Tovar, is on the hook for nearly $2 million in a lawsuit involving a long-stalled spec home in Pinecrest, in a case that the developer brought against its investor. An arbitrator ruled Devtov to pay Navja Corp. about $1.8 million, plus damages, according to a recent filing in the case. Navja, led by Mexican investor Enrique Navarro, formed a 50-50 joint venture with Devtov called Mansions 8800, which purchased the 1-acre site at 8800 Southwest 64th Court in Miami, across the street from Gulliver Preparatory School. The LLC paid $1.6 […]This article originally appeared on The Real Deal. Click here to read the full story.
Recent Posts
BH3 joins Design District venture to revive, expand upscale office project
Walmart to anchor Terra’s Doral retail development with small-format store
Boca’s biggest landlord James Batmasian buys office complex for $38M
As debt woes mount, Alirio Torrealba’s MG Developer lists Hialeah dev site entitled for apartments
Kaufman Rossin co-founder’s Coconut Grove home lands $17M contract
Buyers turn to agents for mortgage information
Driving referrals with stronger relationships
Fall homebuying offers benefits and trade-offs
Mystery buyer builds $311M assemblage in Naples
Bankrupt West Palm Beach condo sells for $14M at auction
