Bilzin Sumberg Represents UCM/PRCP-Boca Raton, LLC in Acquisition

Press Release
March 3, 2010

Miami, FL Bilzin Sumberg Baena Price & Axelrod announced today that it represented UCM/PRCP-Boca Raton, LLC, a Florida-based real estate investment fund, in the acquisition of two partially constructed buildings and the remaining condo inventory from Boca East, LLC, as well as 25 condo units sold by third party unit owners. The total purchase price was approximately $27.1 million. One of the principals of the buyer is an affiliate of Priderock Capital Partners, LLC, out of West Palm Beach, Florida.

Complicating the closing of the transaction were the involvement of multiple sellers, including the original developer and third party unit owners, as well as pending lawsuits and recorded judgments and claims of lien. The majority of the third party unit owners previously purchased their units from Boca East, LLC. Further, the Bilzin Sumberg team was required to negotiate with the City of Boca Raton for the reissuance of various building permits.

Bilzin Sumberg Real Estate partner, Carey A. Stiss, led the firm's representation, handling all real estate portions of the transaction. Howard E. Nelson, partner in the firm's Environmental and Land Use Groups, handled negotiations with the City of Boca Raton, while Corporate & Securities partner Joanna E. Iglesias worked on the corporate aspects of the transaction.

About Bilzin Sumberg

Bilzin Sumberg Baena Price & Axelrod LLP is a full-service, commercial law firm based in Florida. The firm has extensive experience in the areas of corporate and securities law, environmental law, land use and government relations, litigation, real estate, restructuring and bankruptcy, tax and wealth transfer. For more information, visit the firm's website at www.bilzin.com.

Related Topics
RELATED PEOPLE
Howard E. Nelson

Howard E. Nelson

Partner, Environmental Practice Group Chair
YOU MIGHT ALSO LIKE
Speaking Engagement July 31, 2019

Howard E. Nelson spoke on The Effect of Mitigation Credits on Property Development and Values, and Recap of HB 521 (2019), during the 2019 Florida Association of Property Appraisers (FAPA) Post-legislative Conference.

Publication July 18, 2019
Residents of Miami, where our law firm Bilzin Sumberg is based, need no reminder that South Florida is on the front lines of the battle against climate change — particularly during hurricane season. Fortunately, many of our region’s municipalities have been proactive in prioritizing resi...
Press Release October 26, 2017
Andrej Micovic has joined the Firm as an Associate in the Land Development & Government Relations Practice Group. Andrej brings substantial public-private partnership (P3), procurement, and project finance experience to the Firm.
VIEW MORE