With so many of the prime locations for new condominium towers scooped up for development in Miami-Dade County, developers are turning to condominium terminations and acquiring older properties by buying out all of the units from their individual owners.
In fact, in the last several weeks we learned of a building in Surfside where the developer successfully bought out all of the units from their owners and another in the Brickell area where the developer purchased 60 of the 61 residences from their owners and is now using the statutory condo termination process to acquire the remaining unit and commence its development plans.
