Miami-based Dental Design Smile purchased a nearly vacant property for $6.6 million, real estate media outlet The Real Deal reported July 14.
Cosmetic dental clinic owner Elvis Mons plans to renovate and consolidate the Coral Gables, Fla.-based location. Leste Group, an alternative investment platform, provided a $4.4 million bridge loan to fund the purchase.
The five-story building is currently 90 percent vacant. Mr. Mons' dentistry clinic plans to invest $3.5 million in renovations, including creating a rooftop and penthouse for VIP clients, according to Abiel Ballesteros of United Dream Real Estate, who closed the deal on behalf of the buyer.