Backed by a multibillion-dollar private equity firm in New York, a team of Miami investors and strategists launched Lionheart Capital this year looking to scoop up choice South Florida condos at rock-bottom prices.
In its first deal, the firm plunked down $120 million this month to buy up 146 units at the 2700 North Ocean Drive towers on Singer Island in Palm Beach County.
It marked the 50th bulk condo purchase in South Florida in the last two years, according to analysis by Peter Zalewski, a principal of the real estate consultancy Condo Vultures.
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