A significant real estate deal has happened today in Florida.
Florida East Coast Industries has acquired the Codina Group in a deal that joins two of the state’s most prominent real estate companies.
FECI’s purchase of Coral Gables-based Codina Group is valued at $270 million, the companies announced Friday morning.
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”The very best deals do what this one is doing,” said Armando Codina, Codina Group’s chairman and CEO. “They work in the short term, and they also create a foundation for the future that’s stronger than either company standing alone.”
Florida East Coast Industries, based in St. Augustine, operates through two subsidiaries: its railroad company, Florida East Coast Railway, and its real estate arm, Flagler Development. MiamiHerald.com .
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