Spanish Royal Buys 39 Office Suites For $8.55M

Spanish Royal Buys 39 Office Suites For $8.55M J. Albert Diaz 8950 SW 74th Court.

Address: 8950 SW 74th Court, Miami

Property type: 39 suites in a 2009 office-condo

Price: The property was transferred in an exchange for the acquiring company’s equity stake in the seller. The deal was calculated based on the value of the mortgage encumbering the units.

Seller: Dadeland Parcel C LLC, managed by Miami developer Luis Lamar

Buyer: Malini Corp., a Miami company managed by Francisco Franco y Martinez-Bordiu and his son

Background: Franco is the Second Lord of Meiras, Grandee of Spain, 11th Marquis of Villaverde, and his son. The elder Franco is the grandson of the late Spanish dictator.