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Roney Associates
South Florida CEO, Oct, 2004
In a deal valued at $149.8 million, Roney Associates, a Florida-based general partnership, sold the Roney Palace Beach Resort and 11 condominium units in Miami Beach to New York-based Chetrit Group's Sandy Lane Residential partnership. Miami law firm Berger Singerman represented the seller in that deal.
In a separate transaction, Chetrit paid Denver-based real estate investment trust AIMCO $135 million for the Bay Club Towers, a 702-unit apartment complex in Aventura. Miami-based broker Henry Rodstein represented the seller in the deal. An attorney for Chetrit, which also owns the Sears Tower in Chicago, says the company has no plans to buy the Roney's remaining 558 condo units, which are individually owned.
COPYRIGHT 2004 CEO Publishing Group, Inc.
COPYRIGHT 2004 Gale Group
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