Tensions escalate as BEKO Equities eyes West Palm Beach condo buyout
BEKO Equities extended its $295 million offer deadline for the Portofino South Condominium in West Palm Beach as the building’s residents are tied up in mounting assessments and disputes over whether to sell. The new offer deadline is Nov. 3, the Palm Beach Post reported. A buyout deal requires support from 95 percent of owners, and BEKO told the outlet it had agreements with over 60 percent. BEKO is a joint venture between Gilbert Benhamou’s Miami-based Immocorp and Hong Kong-based alternative asset manager O.D. Kobo. The 12-story, 140-unit condo at 3800 Washington Road, just off Flagler Drive, overlooks the intracoastal […]This article originally appeared on The Real Deal. Click here to read the full story.
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