An avg of $111K each seems like a LOT of money to pay for FL properties in this day and age. HOWEVER, we must be mindful that for every $40K run-of-the-mill FL condo situated in well-known hurricane paths in Pacifica’s portfolio for which they paid an “avg” of $111K, there is also likely a $275K ++ penthouse or SFR in a “better” complex or hood. Generally, a buyer in recent years could get a lot of “bang for the buck” in nearly ALL areas of FL in recent years.
Pacifica took a pkg deal which likely included dozens of duds along with cream-puff-type properties that just needed cleaning up.
