Thursday, July 10, 2014

Surfside to North Miami Beach swap?

The Dezerland Hotel (and other titles at times) sold for $65M according ot exMiami on December 18th while five days later on the 23rd  they report that Dezer has acquired and plans to build "600 Units At Intracoastal Mall In North Miami Beach," the purchase of which cost some LLC of his $63.5M. Seems like a reasonable pivot considering how next to nothing has been done with the throw-back hotel property, but Dezer has big plans for the Intracoastal, including a luxury dinner movie theater.

Seems like a big step up. Just a stones throw away, the Intracoastal mall economically driven by budget brands like "Old Navy" and "Winn-Dixie" will be getting a Sunny Isles facelift to match some of its potential.