Skyline Equities Realty Sells Development Rights for Miami Condominium Community
- Sep 06, 2012
Miami—Skyline Equities Realities has recently completed a deal to sell its luxury community SkyPalace, located in Miami, within Mary Brickell Village. Lynd Development and LNR Property will be the new developers of this property. Blackrock Realty Advisors will serve as the equity source.
Miami’s Brickell Avenue area has recently seen a transformational boom. Because of the new office and residential developments, as well as the groundbreaking of Brickell CitiCentre, Lynd Development and LNR Property are determining the best approach for developing SkyPalace.
“We continue to identify development opportunities throughout the region and will deliver the highest quality and standards in the market,” Evangeline Gouletas, chairman and CEO, Skyline Equities Realty, said in a press statement. “With over $5 billion in luxury condominium sales and more than 30,000 condominiums developed in 40 plus markets throughout the Unites States, Skyline’s vision for development is synonymous with prestige.”
Skyline has ensured that the new business plan will give a 100 percent refund for the existing condo deposits.
“We are very please to have successfully constructed an agreement with such notable and well-respected partners,” Vayanos says. “We remained vigilant in our pursuit to create a new structure that would allow Miami to receive a high-level development in line with the city’s vibrancy. Today we have achieved that vision.”