Comras buys Lincoln Road retail portfolio for $140M, plans redevelopment

Michael Comras is planning a major renovation of a Lincoln Road portfolio his namesake firm acquired for $140 million.  Comras declined to confirm the purchase price, which was provided to The Real Deal by a source familiar with the transaction.  Miami Beach-based Comras Company bought 11 storefronts at 600, 719–737, 741, 801–821 Lincoln Road and 723 North Lincoln Lane, a press release states. The firm financed the purchase with a $117 million loan from San Francisco-based Acore Capital.  The seller, New York-based Morgan Stanley, acquired the assemblage in 2014 as part of a larger portfolio deal valued at $342 million, […]

This article originally appeared on The Real Deal. Click here to read the full story.