Mast, Koch drop $38M on Islands of Islamorada Resort in Florida Keys
Mast Capital and Koch Real Estate Investments scooped up an oceanfront resort in the Florida Keys two years after it last sold. The Miami-based developer and Dallas-based investor acquired 22 villas and eight hotel suites at the Islands of Islamorada Resort from the Frisbie Group, according to a news release. Berkadia Miami’s Scott Wadler arranged acquisition financing from Ardent Real Estate. Monroe County records show a deed reflecting a $38.4 million sale and a $40 million mortgage for the 7-acre property at 82779 Old Highway. The recorded price amounts to $1.28 million per key. The buyers plan to relaunch sales […]This article originally appeared on The Real Deal. Click here to read the full story.
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