Lionheart puts Ritz-Carlton condo package on the block

Ritz-Carlton residences

A half-dozen oceanfront condominiums on Singer Island are being offered up as a package by Lionheart Capital, a Miami-based private equity firm, the Sun-Sentinel reported.

The homes are at the Ritz-Carlton Residences in Riviera Beach, where Lionheart paid $117.3 million for 146 of the 242 units in 2010. The firm has resold more than 90 percent of its units but has not listed an asking price for the six-pack, said broker David Metalonis, of Colliers International.

All of the condos are leased for three years and have 11,520 square feet combined.

Offers are being accepted through this week, although bids technically were due Friday, Metalonis said.

“This is an opportunity for someone who’s maybe not local to buy and occupy the units at some point,” he told the newspaper. “In the meantime, they can make a decent return on their investment.” [Sun-Sentinel, 1st item] – Melanie Gray

via The Real Deal Miami http://feedproxy.google.com/~r/trdnews_miami/~3/rfzTbyA5Dr8/