|By Douglas Hanks, The Miami
HeraldMcClatchy-Tribune Regional News
July 24, 2009 - REGENT HAS LEFT THE BUILDING -- Regent has left the building -- again. Regent was the operator of a Bal Harbour condo-hotel that opened last year but was sold recently by owner WCI Communities, a Bonita Springs condominium developer that filed for bankruptcy last August.
A private group, ElCom Hotel & Spa, bought the common areas of the hotel for $12 million and 51 unsold condo-hotel units for $63 a foot -- a 94 percent discount off past prices for the 124-unit tower, according to an analysis by condovultures.com.
The owners of ElCom, executives with hotel backgrounds, have renamed the property the One Bal Harbour Hotel. Regent left another condo-hotel, in South Beach, two years ago.
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