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IMC Equity Group Buys Doral Office Building

Real estate investor Yoram Izhak continues to make moves in South Florida – this time adding an office building in Doral to his commercial portfolio.

Records show the Israeli-born real estate investor paid $8.75 million for a 43,500-square-foot office building at 2555 Northwest 102nd Avenue, just north of Northwest 25th Street, through the company Good Homes Orlando LLC.

The seller, Point at Doral LLC, led by Rafael Diaz, paid $5.9 million for the property in 2014 and renovated it in 2015. The Point at Doral was built in 2008 as an office condo. Tenants include Total Bank and children’s clothing chain Gymboree, which filed for bankruptcy protection last year. Gymboree kept this location open.

Last month, Izhak paid about $5.6 million for a 45-unit apartment building Miami’s Upper East Side. In November, he also bought a portion of Rockefeller Group’s and Kimco Realty’s mixed-use Miramar Town Center for nearly $25 million.

Izhak, who was convicted of tax evasion in 2004, co-founded IMC Equity Group in 2002.

 

Source: The Real Deal