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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.
East End Capital sells Wynwood Miami building to Chaim Cahane of Forte Capital Management, Jonathan Krasner bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
Jon Paul Pérez
It took about three months for Jon Paul Pérez to persuade his father to invest in the luxury apartment tower Wynwood 25 back in 2017.
The eldest son of Related Group founder and Miami “condo king” Jorge Pérez said last year that he negotiated the partnership with developer East End Capital “from soup to nuts.”
East End was looking for a strong partner with construction expertise, and it found that in Related.
Wynwood 25’s nearly 290 rental units and retail space were completed last year, marking the first major apartment project to be completed since the trendy neighborhood was rezoned about five years ago.