Bobby Julien And Isaac Toledano Acquire 19 Units At Port Royale Condominium For $7.08M

A total of 19 units at the Port Royale Condominium, a 171-unit property located at 6969 Collins Avenue, Miami Beach, FL, have been sold for $7,080,000. The price per unit comes to approximately $372,632. The transactions are part of a larger assemblage aimed at luxury condominium redevelopment in the area.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $7,080,000
• Buyer: Bobby Julien - Kolter Group
• Buyer: Isaac Toledano - BH Group
• Units Acquired: 19
• Market: Miami Beach, FL

The acquisition represents a significant strategy by Kolter Group and BH Group as they expand their property portfolio in Miami Beach. This move is indicative of a growing trend among developers focused on redeveloping older coastal buildings in response to increasing ownership costs and the demand for beachfront properties.