12350 Biscayne Boulevard and buyer Yoram Izhak (Google Maps)
Johnson & Wales University has not finished unloading its North Miami portfolio.
Firms affiliated with developer Yoram Izhak and his North Miami-based company IMC Equity Group combined paid $ 21 million for multiple properties, records show. The lots were not part of the recent sale of Johnson & Wales’ 25 acre main campus to the Property Markets Group.
Izhaks Biscayne Apts Development LLC this week paid $ 12.3 million for the gated college golf management center and adjoining student housing building on 12350 Biscayne Boulevard, along with surface parking lot and vacant lot on 1650 Northeast 124th Street, according to Records.
Last month Kissimmee 3205 LLC of Izhak also bought three apartment buildings with a total of 87 units at 1700 Northeast 133rd Street, 13025 Emerald Drive and 13025 Emerald Drive.
Izhak, who pleaded guilty of tax evasion in 2004, is the manager of all purchase units according to state company records.
The Biscayne Apts. The purchase was funded in part with a $ 5 million loan from the Israel Discount Bank of New York, and Kissimmee received a $ 8.4 million mortgage from Midfirst Bank.
Johnson and Wales, based in Providence, Rhode Island, completed the sale of its main campus to PMG in a $ 55-60 million deal earlier this month.
IMC Equity is a commercial developer and real estate investment firm with extensive holdings across South Florida, including the Festival Marketplace in Pompano Beach; the Renaissance Commons Class A office complex in Palm Beach; and the Boutique, a 43-unit apartment building on Miami’s Upper Eastside. In 2019, the company acquired the Flea Market USA shopping mall in Little River for $ 13.5 million.
Contact Francisco Alvarado
The post Johnson & Wales is selling additional properties in North Miami for $ 21 million first appeared on Daily Florida Press.
from Daily Florida Press https://dailyfloridapress.com/johnson-wales-is-selling-additional-properties-in-north-miami-for-21-million/
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