Multifamily bargain: IMC Equity scoops up Princeton complex at 24% discount

IMC Equity Group bought a Princeton apartment complex for nearly 24 percent less than its sale price four years ago, as the investment firm capitalizes on distress in South Florida.  North Miami-based IMC Equity, led by Yoram Izhak, bought the 204-unit garden-style Pine Groves at 24101 South Dixie Highway in unincorporated Miami-Dade County from an entity led by Elliot Kazarnovsky of Toronto-based Marlin Spring Developments, according to records.  IMC Equity borrowed a $27.8 million loan from Wells Fargo for the purchase and property.  Completed in 2020, Pine Groves consists of four three-story buildings and a clubhouse on a nearly 6-acre […]

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