By: Katherine Kallergis
Source: The Real Deal
BF Group paid $7 million for a development site in Coral Gables, where the firm plans to build a 10-story mixed-use office building.
The company, led by partners Jose Boschetti, Rene Brillembourg and Carlos Acosta, bought the 20,000-square-foot property 4311 Ponce de Leon Boulevard, Boschetti told The Real Deal. The deal breaks down to about $350 per square foot for the land, which is across the street from the Shops at Merrick Park.
Property records show 4311 Ponce de Leon LLC, which is controlled by Ruby Bacardi of the Bacardi family, sold both lots to BF Group. Together they have about 200 feet of frontage along Ponce de Leon Boulevard, and they last sold for a combined $4.9 million between 2006 and 2012.