Strategies of the Condo Vultures®

Less than 800 condo units are currently available for rent in the Greater Downtown Miami area despite nearly 21,000 new residences being built in the last five years, according to a new report from Condo Vultures® LLC.Of the units that are currently available for lease, the rental rates being agr...

A $1 billion U.S. opportunity fund paid about $252,500 per unit for the last 120 units in the newly completed 54-story 50 Biscayne condominium tower in downtown Miami, netting the seller $18 million, according to the South Florida Business Journal.Lubert-Adler Partners, a $1 billion opportunity f...

As Florida's real estate market continues to plummet, banking regulators stayed on their offensive to clean up the industry by taking the extreme step of seizing a Florida-based institution. First Priority Bank of Bradenton, a six branch institution with $261 million in assets located on the stat...

Hedge funds, private equity groups, and pension funds are actively seeking and beginning to purchase problem mortgages in bulk from investment banks and lenders that are desperate to clean up their portfolios, according to the Palm Beach Post.For example, Lone Star Funds, a Dallas-based opportuni...

A Miami-based bank with six locations and $613 million in assets is on the watch list of federal regulators due to the institution's deteriorating balance sheet, according to the Miami Herald.Republic Federal Bank in Miami has been slapped with a formal reprimand by the Office of the Comptroller ...

A Florida-based bank with seven South Florida locations and assets of $606 million is being closely monitored by banking regulators, a veteran investment banker told the Sarasota Herald-Tribune.Peninsula Bank in Englewood, Fla., on the state's Gulf of Mexico coast is under regulatory scrutiny due...

Discounts in the Vultures DatabaseTM fell to an average of -29 percent on condominiums, townhouses, and single-family houses located in coastal South Florida through June 30, representing a -1 percentage point drop from the -28 percent average price reduction the previous month, according to a ne...

Federal regulators were busy in three states on Friday afternoon shutting down two banks with $4.6 billion in assets and 28 locations in the distressed real estate markets of Arizona, California, and Nevada.Regulators seized the First National Bank Holding Co. in Scottsdale, Ariz, the parent comp...

Buyers have closed on slightly more than half of the new condominium units built and delivered in Greater Downtown Miami since 2003, according to a new report from Condo Vultures® LLC.Extensive research comparing Miami-Dade County records with the Condo Vultures® Official Condo Buyers Guide To Mi...

Rudy Giuliani, the former New York City mayor and presidential candidate, plans to launch an opportunity fund with as much of $750 million to buy distressed properties, according to the New York Times.Giuliani of New York City is partnering up with Berman Enterprises from suburban Washington, D.C...