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| Orion Condos rendering Fort Lauderdale Beach, FL |
MIAMI, FL -- With more than 120 new condo towers proposed
for coastal South Florida since the real estate crash of 2007, the developer of
the proposed 170-unit Orion project planned for Fort Lauderdale Beach
has identified a buyer to purchase the project's site with entitlements,
according to a new report from CondoVultures.com.
The prospective buyer - Mah Cignal Holdings based in the
Baltimore area - won the right to purchase the nearly two-acre site on Fort
Lauderdale Beach Boulevard with a winning bid of $22.5 million in a U.S.
Bankruptcy Court-ordered auction, according to the South Florida Business
Journal.
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| Silvia Coltrane |
The transaction is reportedly scheduled to be completed in
March 2013 although no deed transfer has been recorded as of March 24, 2013,
according to Broward County Clerk of the Court records.
Silvia Coltrane's Transacta Prive Developers - which in
March 2012 obtained approval to build the planned 18-story Orion condo tower on
a former Howard Johnson hotel property in Fort Lauderdale Beach - formally put
the development site on the market in December 2012 for an undisclosed price,
according to the South Florida SunSentinel.
For a complete copy of the company’s news release, please
contact:
Condo Vultures® LLC
225 Midtown Building
225 NE 34th St., Suite 209B,
Downtown Miami,
Florida, 33137.
800-750-0517.
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