A joint venture between Miami-based real estate (RE) company Ubiica LLC and peer Maven Real Estate has closed on the purchase of the AmTrust Bank office building and three adjacent lots in Coral Gables, Florida.
Constructed in 1984, the 25,428-square-foot AmTrust office building at 2701 Ponce de Leon Boulevard is near The Plaza mega-project, which is under construction.
Furthermore, the three adjacent lots acquired include a 2,933-square-foot lot at 160 Almeria Avenue, a 15,000-square-foot lot at 130 Almeria Avenue, and a 12,500-square-foot lot at 103 Sevilla Avenue.
More so, the joint venture paid $12 million to New York Community Bank to acquire the properties in an off-market transaction.