{"id":216183,"date":"2026-04-02T15:43:32","date_gmt":"2026-04-02T15:43:32","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/216183\/"},"modified":"2026-04-02T15:43:32","modified_gmt":"2026-04-02T15:43:32","slug":"valoro-capital-buys-miami-office-building-at-discount","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/216183\/","title":{"rendered":"Valoro Capital Buys Miami Office Building at Discount"},"content":{"rendered":"

Valoro Capital<\/a> scored a discount on an Edgewater office building previously owned by flexible workspace operator Expansive.<\/p>\n

Valoro, led by Francisco Cantor and Alberto Chocron, paid $19 million for the 63,000-square-foot building at 2125 Biscayne Boulevard. The price amounts to $300 per square foot.<\/p>\n

Chicago-based Expansive paid $21 million, or $332 per square foot, for the five-story building in 2019, according to a news release from Valoro, whose price represents a 10 percent discount from the previous trade.<\/p>\n

Expansive invested $10 million into updating the building, including creating 130 private offices and updating amenities like the kitchen and tenant lounges. The seller has been offloading properties while maintaining its presence as a coworking operator.<\/p>\n

The firm took a 47 percent loss on its initial investment in the sale-leaseback of a Chicago office building in January of last year, when it sold 405 West Superior Street for $5.3 million<\/a>. That came after some distress that included a foreclosure in Houston<\/a> and a deed in lieu of foreclosure in Chicago\u2019s River North<\/a>.<\/p>\n

Miami-based Valoro plans to hold the building, which it describes as having \u201cdurable in-place cash flow and redevelopment upside,\u201d while it seeks entitlements and strategizes the design for a redevelopment.<\/p>\n

The property qualifies for construction of over 700 residential units under Florida\u2019s Live Local Act<\/a>, which allows developers to bypass local zoning if they reserve at least 40 percent of units for residents earning no more than 120 percent of the area median income.<\/p>\n

Edgewater has transformed from a fast-growing local condo district into an international luxury residential enclave.\u00a0<\/p>\n

One example is Vertical Developments and Urban Network Capital Group\u2019s Elle magazine-branded, 180-unit condo-hotel<\/a> at 3618 Northeast Fifth Avenue.<\/p>\n

SB Development and Hazelton Capital Group scored a $170 million construction loan<\/a> in September to build the next phase of the Cove Residences at 456 Northeast 29th Street in Edgewater<\/a>, a 40-story, 134-unit tower, with remaining units starting at $900,000.<\/p>\n","protected":false},"excerpt":{"rendered":"Valoro Capital scored a discount on an Edgewater office building previously owned by flexible workspace operator Expansive. Valoro,…\n","protected":false},"author":2,"featured_media":216184,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[225,227,226,98521],"class_list":["post-216183","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hialeah","tag-hialeah","tag-hialeah-headlines","tag-hialeah-news","tag-valoro-capital-edgewater-expansive"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/216183","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=216183"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/216183\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/216184"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=216183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=216183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=216183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}