February 1, 2013
FOR IMMEDIATE RELEASE:
Miami, FL (Press Release) The TREO Group, LLC (“TREO”) today announced the acquisition of a note from Bank of America collateralized by an 18 acre commercial property located on SW 216th Street between Old Cutler Road and SW 87th Avenue in Cutler Bay, Florida. The property, surrounded by Lennar’s Lakes by the Bay community, was previously slated to be developed as a Publix anchored shopping center. The bank obtained a $7.8MM judgment against the borrower in May 2010, but had failed to complete the foreclosure. According to Mr. Otto Boudet-Murias, a Managing Member of TREO, “this note acquisition is a prime example of our ability to execute complex real estate transactions in a swift and efficient manner.” TREO will now focus on completing the foreclosure process and taking title to the property.
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.