Condo developer pays $12M for site near Broward beach

GCA Immobilier has taken a big step forward in its plans to build the Pure Residences condo-hotel, as it paid $11.9 million to acquire the development site in Pompano Beach.

Pompano City Place LLC, managed by Dr. James Bicher, sold the 44,000-square-foot site at 3300 S.E. 1st Street to Pure Residence Resort Pompano Beach LLC, an affiliate of Montreal-based GCA Immobilier, led by Claude La Chance. The deal included $11.4 million in seller financing.

The property is a few blocks west of the beach…

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