Italian Investors Acquire Commercial Real Estate in Miami

Online, January 15, 2013 (Newswire.com) - A group of investors from Italy purchased a four unit multifamily building in North Beach for $562,000. Paul Silverstein, Senior Vice President of the Commercial Division for Re/MAX Advance Realty, and President of the Florida Commercial Team, sold the property for all cash. The property had been completely renovated in 2007 and was 100% occupied.

According to Mr. Silverstein, "international buyers are flocking to South Florida in record numbers to purchase commercial real estate." He expects the trend to continue through 2013.

As the number one commercial realtor for RE/MAX Commercial Division in South Florida, and number two for the entire State of Florida, Mr. Silverstein is quite familiar with international commercial real estate investment trends. "International investors continue to view Miami as a buying opportunity," he said, "and the Florida Commercial Team is well positioned to locate additional properties for these investors."

According the Miami Association of Realtors, Florida has led the nation for three years in international real estate transactions, accounting for nearly one-third of the total in 2011. Of those Florida deals, 30 percent took place in the Miami-Miami Beach-Fort Lauderdale market, and were worth $8.1 billion.

Among international investors, Venezuela came in first, followed by Brazil, Argentina, Canada, Colombia, Mexico, France, Italy, Spain and the United Kingdom. The numbers for 2012 are not currently available.

Paul Silverstein and the Florida Commercial Team have been successfully selling commercial real estate in Florida for over thirty years. Silverstein has been named in the Top Five selling commercial Brokers from 2009-2012 in the State of Florida. In 2009 he was recognized by RE/MAX International as the #1 Top Selling Commercial Associate in the State of Florida by RE/MAX

International. In 2012 he was named the #2 top Selling Commercial Associate in Florida by RE/MAX International. He has been the recipient of numerous awards from RE/MAX International including the prestigious Platinum Award, 100% Club Award, the Executive Award, and the coveted 2008 Hall of Fame Award based upon sales. He has been named by the National Association of Realtors as being in the top ½ of 1% of Realtors nationwide.

Along with the other members of the Florida Commercial Team, he has a unique depth of knowledge and understanding of the myriad changes that have made South Florida an international destination for investors and developers.

As the Senior Vice President of the Commercial Division of RE/MAX Advance Realty, he has been instrumental in assembling properties for numerous development projects in South Florida.

RE/MAX Advance Realty provides a wide range of residential and commercial real estate services using the most current technology, processes and systems available.