May 13, 2013
FOR IMMEDIATE RELEASE:
Miami, FL (Press Release) The TREO Group, LLC (“TREO”) today announced the acquisition of a 77 acre residential development site from Mercedes Homes pursuant to a pre-approved “Short-Sale” arrangement with Bank of America, N.A. The Property is currently undeveloped vacant land on the SW corner of S.W. 320th Street and Kingman Road (SW 152nd Avenue) adjacent to Lennar’s “Isles of Oasis” community in Homestead, Florida. The Seller had acquired the Property in February 2006 for a total acquisition price of $21,640,000. According to Rolando Delgado, Jr., a Managing Member of TREO, “this acquisition once again confirms our firm’s ability to identify, negotiate and close opportunistic transactions with lenders and motivated sellers in a quick and efficient manner. We look forward to commencing the entitlement process and unlocking the site’s true value.”
The TREO Group, LLC
The TREO Group, LLC is a privately held real estate investment firm focused on creating diversified investment opportunities for its capital partners by combining opportunistic acquisition strategies with proven value enhancement platforms. To learn more about The TREO Group or for loan sale and property disposition opportunities, please contact us at info@TREOgroup.com or visit our website at www.TREOgroup.com.