Alleged investor accused of bilking more than $1 million from woman for cannabis, real estate deals

It’s an all too familiar story in South Florida: A self-proclaimed financial adviser persuades an out-of-state woman into giving him more than $1 million to invest in various ventures and eventually most of the money is gone.

Tania Deutsch, 61, of Lords Valley, Pa., said she just wanted to help people with some money she had inherited. She said she was renovating a condo she bought years ago in West Boca when David Bruce Cohen introduced himself and befriended her.

“I trusted him,” she said Friday. “We played tennis together. I met his family.”

According to court documents, he convinced her to invest $1.2 million in a Massachusetts-based cannabis healthcare company in 2016 and in a West Boca real estate project in 2017.

After waiting two years for ECP Capital Partners Inc. to begin making the promised interest payouts, nothing happened. Deutsch repeatedly called Cohen — who controlled the

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Plano office buildings sell to Florida investor

A Florida-based investor – TerraCap Management LLC – has purchased a Plano office campus.

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TerraCap just bought Preston Park, a 200,000-square-foot office property located near Preston Road and Park Boulevard.

The two-building development was built in 1998 and was sold by Libitzky Property Co.

California-based Libitzky and Sunwest Real Estate Group had owned the building since 2017.

“We ended up with five offers to buy the buildings,” said Creighton Stark, executive vice president with commercial property firm Colliers International.

Stark said the previous owner originally planned to market the buildings for sale in March but held back with the start of the pandemic.

“Because of COVID, we hit he pause button,” Stark said. “We decided to go ahead in June, when there was nothing else of quality on the market.

“We were one of the few deals out there,” he said. “We had a tremendous response with groups

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International investor takes large property in Cedar Hill

A Canada-based land investor and developer has snapped up 400 acres in Cedar Hill southwest of Dallas

Walton Group Holdings Ltd, a real estate investment and land asset management company with almost $3.39 billion in holdings in North America, has purchased 400 acres on Lake Ridge Parkway near Joe Pool Lake.

The property is planned for 1,100 single-family homes and is west of U.S. Highway 67.

Walton said it’s identified a “top builder” that will take the majority of the land. And the firm is in negotiations for sales of other parts of the property to rental home and senior housing developers.

“We are excited to work with this national homebuilder on moving the Cedar Hill development forward to create additional residential options in this dynamic market area,” Brad Wiley, Senior Land Acquisition Manager with Walton, said in a statement.

Vanguard Real Estate Advisors brokered transaction.

Walton has other properties

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International investor takes Farmers Branch apartments and other key D-FW real estate deals of the week

Sales

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International investor Excelsa Properties has made its first purchase in the Dallas-area. The Lebanon-based investor purchased Aspen at Mercer Crossing, a 260-unit multifamily community located at 1851 Knightsbridge Road, in Farmers Branch. This North Texas acquisition is the sixth multifamily property acquisition for the firm’s Excelsa US Real Estate I fund which is buying $500 million in U.S. property. Aspen at Mercer Crossing was completed in 2019.

Equus Capital Partners Ltd has acquired McKinney Village, a 245-unit apartment community at 201 McKinney Village Pkwy McKinney. The acquisition was made on behalf of Equus Investment Partnership XI fund. Brian O’Boyle Jr., Steve Comly and Eric DeStefano of Newmark Knight Frank brokered the sale.

EBO Marketing Inc., developer of Sandy Lake Office Park, has sold the property to local accounting firm JV Empire LLC. The office buildings have 9,224 square feet and are at 1507 and 1529 E. Sandy

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US In Danger Of Becoming A ‘Renter Nation’ As Home Prices Hit Record High, Says Investor

KEY POINTS

  • Every $1,000 increase in home price pushes 150,000 buyers away: Report 
  • Rental prices have dropped by 0.1% since last month: Report
  • Homebuying is currently led by people with jobs and equity

Rising demand for homes, unprecedented levels of mortgage rates and low supply have pushed home prices out of reach for prospective homebuyers, which could make America a ‘renter nation,’ Grant Cardone, a real estate investor, told Yahoo.

“Homeownership is still dead in this country because the only people that are buying homes right now are people that have equity, great credit, and a job,” Cardone said.

For every $1,000 increase in home price, 150,000 buyers are priced out of a possible home purchase, according to a recent report by the National Association of Home Builders (NAHB).

The fall season is known to be good for real estate as home prices fall during this time. Realtor.com, however, suggests

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Buy and Hold Real Estate Investor Financing

Real Estate Investor Financing

Now is a great time to invest in: single family, two to four unit buildings, condominiums and town homes as well as multifamily apartment buildings. For Real Estate Investors who are operating as a business buying residential properties to hold and profit from the positive cash flow, there are only limited financing options available. There are now programs available to you. For conventional residential one to four unit properties the standard conventional guidelines through Fannie Mae and Freddie Mac limits a borrower to only have four properties financed, including their owner occupied home.

There is a great solution for you. Even while conventional financing guidelines severely limit who can qualify (and this has only gotten worse in the past few years) there has been a rise in portfolio lenders that will lend on residential investment properties with similar guidelines as commercial apartment financing. This is great … Read More

Investment Criteria of a Beginning Real Estate Investor

Focusing on property features alone is a quick way to the grave of your real estate career. I think this is an easy concept to grasp, but it does come up, so I wanted to share how I feel about what variables an investor should focus on to make solid buying decisions. Mistakes are made all the time by investors paying too much for a piece of real estate, but I would bet there are even more mistakes made when it comes to NOT buying a property they should. The old saying is, "the only real estate deals I regretted are the ones I did do." I am not sure I totally agree, but I understand the concept.

If you limit your criteria to property features, you will miss out on fantastic buying opportunities.

When I go to networking events, I often hear investors ask each other about their investment … Read More