LUXURY CONDO UNITS SELL FOR $60 MILLION

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DAYTONA BEACH, FLA. — An undisclosed Florida condo developer purchased the remaining 414 luxury condo units at Marina Grande on the Halifax in Daytona Beach for $60 million. The twin 25-story buildings contain a total of 486 condominiums, 72 of which were sold in 2007. The seller, Miami-based Holly Hill Associates, which is an entity controlled by N.Y.-based Cerberus Capital Management, was represented by Todd Cohen of Orlando-based Cohen Estate Capital, LLC.

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