BB&T Sells Miami Lakes Office Condos at 18% Discount to Foreclosure

Branch Banking & Trust Co. sold most of the units in the Miami Lakes Corporate Center Condominium at an 18 percent discount to its foreclosed mortgage.

The bank (NYSE: BBT) seized the 44 office condos at 14750 N.W. 77th Court in 2013 after foreclosing on New Dawn Miami Lakes’ $7.6 million mortgage.

BB&T affiliate Eagle FL I SPE recently sold the 65,000-square-foot property for $6.2 million to JIK Palmetto. Sperry Van Ness Managing Director Matthew Rotolante, Director of Sales and Operations Caroline Camus and senior advisor Eric Amat represented the bank in attracting 12 bidders for the property.

The buyer, an affiliate of Miami-based Kislak Organization, was represented by Rene Vivo and Tommy Gil of Vivo Real Estate Group. Northern Trust Co. provided a $6.65 million mortgage to the buyer.

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