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| Mansion Apartments,1001 West 46th Street, Miami Beach, FL |
MIAMI, FL – Befeler Group, a privately-held real estate investment company based in Coconut Grove, Florida, closed the sale of Mansion Apartments for $4.3 Million.
The 18-unit multifamily apartment building located in Miami Beach, Florida was acquired in 2005
for $1.6 Million.
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| Deme Mekras |
“We are
pleased to have successfully completed our cycle of ownership of this quality
asset and sold it at the appropriate time to the appropriate buyer” said George
Befeler, CEO of Befeler Group.
“This
transaction is consistent with our practice of acquiring high quality assets,
adding value, and either disposing of them at the right time or retaining them
for long term growth” added Mark Rosencwaig, Vice-president of Befeler
Group.
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| George Befeler |
Headquartered in Coconut Grove, Florida, Befeler Group continues to actively pursue additional opportunities throughout the State of Florida.
The firm continues to target strategic value-add
hotels, offices and multifamily apartment building deals that are below the
institutional radar, with the intention of generating above-market returns.
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| Mark Rosencwaig |
Two months ago, it acquired a 93-key Holiday Inn Express & Suites in Port St. Lucie for $8.9 Million and is performing a $3 Million PIP renovation.
Three months
ago, it acquired a 26-unit multifamily asset in Hialeah, Florida for $4
Million. Five months ago it sold a 152-unit multifamily asset in
Gainesville for $13.1 Million.
George Befeler is the founder and CEO of The Befeler Group, a privately held real estate investment firm based in Coconut Grove, Florida, that focuses on acquiring, owning and managing hotels, multifamily, office and hospitality properties with strong real estate fundamentals.
The Befeler Group has owned and managed
multiple commercial properties within the State of Florida for over 40 years.
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