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East End Capital’s Jonathon Yormak, BentallGreenOak’s Sonny Kalsi and 100 Biscayne Boulevard. (East End Capital, BentallGreenOak)
East End Capital and a pair of Australian investors were ordered to pay back a $5.5 million deposit tied to the failed $98.8 million sale of their office tower in downtown Miami.
BentallGreenOak had put the funds in escrow last year as part of its planned purchase of the 30-story 100 Biscayne office building at 100 Biscayne Boulevard and garage at 130 Biscayne Boulevard.
Toronto- and New York-based BentallGreenOak, led by Sonny Kalsi, pulled out of the deal to buy the 100 Biscayne tower because the sellers provided incomplete estoppel documents for four tenants, according to court filings.