Developer Gold Krown Nabs 538 Midtown Miami Units

Law360, New York (November 3, 2011, 5:45 PM EDT) -- Florida-based developer Gold Krown Financial has bought the 538 unsold residential units of Midtown Miami, a condominium and rental apartment development near downtown Miami, Gold Krown announced Thursday.

The apartments, divided into two condominium buildings and one rental apartment building, are part of a $2.3 billion urban mixed-use development built by Midtown Equities LLC. About 94 percent of the units were rented at the time of acquisition, according to Gold Krown.

Jordan Ray of Mission Capital Advisors, which arranged the financing for the transaction, said he...
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