Fresh off a big deal to sell the Miami Beach Howard Johnson’s hotel, New York developer Michael Dezer bought a North Miami Beach retail center for $63.5 million.
A company linked to Dezer, Dezer Intracoastal Mall LLC, bought the property from Los Angeles-based Canyon Capital Realty Advisors LLC. Canyon Capital bought the property in a March 2012 foreclosure sale for $59.8 million after the previous owner, Boca-based developer Woolbright Development Inc., defaulted on the mortgage in 2011.
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