Fort Lauderdale, Fla. – June 30, 2023 – Greenspoon Marder is pleased to announce its role as counsel for client Westgate South Beach LLC, an affiliate of Orlando-based timeshare firm Westgate Resorts, in the successful sale of a historic 46-unit timeshare property located at 3611 Collins Ave in Miami Beach’s Mid-Beach neighborhood. The property, spanning 0.8 acres in size, was sold for $73 million to MDEV6 LLC, an affiliate of Miami-based multifamily developer 13th Floor Investments. Originally constructed in 1938, the three-story building underwent a comprehensive renovation in 2020.
The transaction was overseen by co-managing director Michael Marder and partners Leonard Lubart and Kate Saft. Their in-depth knowledge of real estate law, coupled with their extensive experience in handling complex transactions, enabled an ideal negotiation process. Robert Webb and Jason Brady of BakerHostetler acted as counsel for the Owner’s Association in the deal.
“Our longstanding relationship with Westgate Resorts allowed us to work closely with the company to achieve their objectives in this landmark transaction. We are proud to have supported them throughout this deal and to continue to provide exemplary legal services to the Westgate team,” said Mr. Marder.
This sale marks another significant milestone for both Westgate Resorts and 13th Floor Investments, further solidifying their positions as industry leaders in the hospitality and real estate sectors, respectively.