Met One Tower Sells 80 Units

80 units totaling 67,400 square feet of space in the penniless Met One tower in downtown Miami were grabbed by a private equity group. The investors paid $16.7 million, or $248 per square foot, in a series of linked transactions, marking the 33rd bulk sale in Miami in the past 18 months. It also marked nearly a 40% discount to the average prices of $416 per square foot on the market. Controlled by Luis A. Pulenta and Ricardo Glas of MDM Residences Limited, the investors sealed the deal under the names J.P. Downtown Apartments LLC, Met One Apartments LLC, and M.O. Units LLCs. According to state records, the buyers are Alejandro Angulo, Juan Carlos Angulo, Jose Luis Innocenti, and Miguel Angel Innocenti.

Via: The Real Deal