Foreign capital continues to make its way into commercial real estate across South Florida.
Riviera Point Development Group raised $15 million from 30 investors — primarily from Latin America — to build Riviera Point Corporate Center, a recently completed 72,000-square-foot office building in Miramar.
The developer previously used foreign investment to build another Miramar office building and one in Doral.
Meanwhile, the Franklin Street brokerage said it recently sold a 19,493-square-foot shopping center in Lauderhill to a Chinese buyer for $4.15 million. Tire Kingdom anchors the plaza at 6450 W. Commercial Blvd.
Franklin Street brokers say they expect more Chinese investment dollars for commercial properties offering stable cash flow.
“I think the Chinese, like many other foreign nationals, see the United States as a secure place to invest compared to other countries, and our returns tend to be stronger,” Franklin Street’s Greg Matus said in a statement.