The Nakash family closed on its sale of 12 units at the W South Beach to an entity tied to Aby Rosen and Michael Fuchs’ RFR Holding and David Edelstein’s Tricap.
Two W Unit LLC, Nakash Holding LLC, and Nakash Miami Condo Investments LLC sold the condo-hotel units to 2201 Collins Fee LLC, according to property records. The units sold for $10.8 million, the same price the Nakashes paid for them in 2014 and 2015.
The buyer financed the purchase with a $6.9 million loan from Citibank and Deutsche Bank. 2201 Collins Fee LLC now owns about 225 units at the beachfront 20-story tower, records show.
Edelstein said the W South Beach hotel is at 90 percent occupancy.
Read the full story: www.therealdeal.com
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