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Investor spending big bucks for Florida commercial real estate

When it comes to real estate, one must be very careful to ensure that the loan conditions are appropriate. Any real estate transaction can be turned around when things are not performed in accordance with the law. But assuming all rules are followed, real estate transactions can be one of the most important financial decisions that a business makes. And when millions of dollars are being spent, like in one case out of Florida, a real estate transaction is that much more important.

According to reports, a Florida real estate investor has been spending millions of dollars to buy shopping centers located in Palm Beach and Broward counties. Additionally, sources suggest that he has no intention of stopping with his purchasing in the near future. In fact, he claims that now is the best time for these types of transactions. There are so many opportunities available.

At this time, the investor has committed to paying over $50 million for three plazas in Broward County in the past couple of months. He will pay $18 million for one, almost $15 million for another and $23 million for a third shopping center. The man plans to turn two of the three around quickly. He wants to renovate the two centers and fill them with chain tenants. This is a formula that he has used in the Florida area and has proven to be successful with his method.

This is great news for avid shoppers; however, he needs to ensure that he is making the right financial decisions for himself. Real estate investors can get caught up in what they are doing and pay less attention to the most important details of a real estate transaction. While it is not certain that he is doing this, it is something that other real estate investors in the Florida area should be wary of.

Source: Sun Sentinel, "Miami-based real estate investor is gaining speed by buying commercial real estate in Broward County," Justine Griffin, May 4, 2012

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