Torose Equities and Sabal Investment Holdings unloaded a boutique office building in Miami’s Coconut Grove neighborhood for $61 million, the joint venture announced.

Azora Private purchased the seven-story property at 3480 Main Highway, which faces the Barnacle Historic State Park and is about 5.5 miles southwest of Downtown Miami. The 68,031-square-foot building, which holds about 55,000 square feet of rentable space, is fully leased, according to a representative for the sellers. 

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Office tenants include Ridgeback Biotherapeutics, real estate firm Longpoint Realty Partners, and private equity firm Redbird Capital Partners. Restaurants Amal and Level 6 operate outposts on the ground floor and the rooftop.

Last year, Torose Equities and Sabal Investment Holdings gained control of the asset by buying a $32.5 million mortgage from Madison Realty Capital, which fell in UCC foreclosure. CGI Merchant Group owned about $4.7 million in debt tied to the building, which was completed in 2019.

“We recognized the opportunity to acquire a well-located, fully-occupied asset below replacement cost and reposition legacy leases to current market rates,” Scott Sherman, founder and principal of Torose Equities, said in a statement. “The strong investor demand for quality office assets in this submarket validated our thesis and allowed us to deliver exceptional returns to our investors.”

The purchase adds to Azora Private’s Coconut Grove’s office portfolio. Last year, the Madrid-based real estate investment firm bought both the seven-story building at 3225 Aviation Avenue and the four-story building at 3250 Mary Street for a combined $82 million, The Real Deal reported. 

The neighborhood has emerged as one of the most coveted areas in Miami with wealthy executives, who typically want to work near where they live. In the past few months, Google’s billionaire co-founder Larry Page has spent nearly $200 million on estates in Coconut Grove.

A representative for Azora Private did not immediately respond to a request for comment.

Julia Echikson can be reached at jechikson@commercialobserver.com. 

Lisa Hochstein has said goodbye to her ultra-luxe home. The Real Housewives of Miami mom confirmed the news on social media this week, more than two years after she moved into the Miami Beach condo. 

“The past few months of my life have been hectic, so many changes and moving pieces, but thanks to [Good Greek Moving], the one thing that wasn’t stressful at all was my recent move,” she captioned a February 2 Instagram Reel. “I truly didn’t lift a finger. They were meticulous, professional, and left the space spotless when they finished.”

Lisa Hochstein offers a peek at her new house

The video, which was also posted on Lisa’s TikTok, showed The Real Housewives of Miami cast member inside the 5,586-square-foot property as the moving team hauled off her furniture and decorative pieces.

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“They treated every piece with so much care, especially my fine art,” she said. “Everything was delicately wrapped, protected, packed perfectly… The move itself was seamless. Not only did they transport everything safely, they unpacked it all, placed things exactly where they belonged, and made the space feel put together right away.”

Toward the end of the clip, fans got a peek at Lisa’s new home, which featured recessed lighting, tile floors, an open-concept kitchen, and extensive windows that maximized the natural light. The video also included cameos by Lisa’s 10-year-old son, Logan, and Jody Glidden, a tech entrepreneur she began dating in 2022.

Jody Glidden sheds more light on Lisa Hochstein’s previous living situation

Lisa has not shared any more details about her new home, which she’ll share with Logan and her 6-year-old daughter, Elle. The Toronto native coparents the children with Lenny Hochstein, a Miami-based plastic surgeon, whom she divorced in 2024.

Shortly after moving out of her marital home, Lisa secured the aforementioned Miami Beach condo. According to Page Six, Lisa split the cost of the $32,000-a-month home with Jody.

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“I know that probably sounds crazy for most of America/ When I was growing up in Canada you could BUY a house for that monthly rental price,” Jody wrote, as reported by the outlet. “But like NYC, Miami rental prices are out of control… Lisa looked at over 30 places and was about to choose a place over 30 minutes south of her kids’ dad’s and my place (kind of neighbors) and 60 minutes away from their school. I intervened.

“I don’t want to be in the car all the time or have them in the car all day long,” he added. “And it’s temporary since she’s supposed to have a house coming.”

Get more details about Lisa’s former living situation and her home-building plans involving Lenny. 

The global crypto industry is no longer moving in one direction. It is splitting into layers, with Asia leading in day-to-day usage while the U.S. strengthens its position as the institutional and regulatory hub.

A new Global Digital Asset Adoption Index for Consensus Miami from CoinDesk Research shows Asia ranking first in exchange trading volumes, stablecoin transaction flows, and crypto ownership rates, underscoring how much of the sector’s real activity is concentrated outside North America.

At the same time, the U.S. continues to dominate in exchange-traded products, custody infrastructure, and regulatory clarity, positioning it as the primary venue for compliant capital formation and large-scale institutional participation.

The report argues that this divide does not signal a loss of influence for Washington so much as a structural shift in how crypto markets function.

Liquidity, compliance, and user behavior are increasingly decoupled rather than converging in a single jurisdiction. Asia’s strength lies in embedded financial integration and retail participation, while North America’s advantage comes from product depth, licensing frameworks, and access to traditional financial markets.

Stablecoins sit at the center of this split. In developed markets they remain heavily tied to trading and collateral use, but in emerging economies, they are increasingly used for remittances, cross-border commerce, and inflation hedging. According to the index, this utility-driven demand is helping push transaction growth even when price momentum slows.

Latin America illustrates a third path. In several economies, dollar-pegged stablecoins are used less for speculation and more for remittances, cross-border commerce, and inflation hedging, creating consistent transaction demand even during market downturns.

The result is a multipolar digital asset market in which leadership depends less on geography and more on the layer of the crypto stack under consideration.

Click here to read the report