One of the earliest and most spectacular failures of the last real estate boom cycle appears to have come full circle following the purchase of a Kendall retail complex foreclosed in 2007.
An entity linked to Boca Raton-based Duncan Hillsley Capital has scooped up the 129,079 square foot shopping complex at 7270 North Kendall Drive for $39 million, public records show, in a transaction that closed July 31. The seller was New York-based bank Goldman Sachs and Co., which received the property in 2007 following a previous owner’s default on a $224 million loan. The current transaction prices the retail space at $302 per square foot.
