A Miami-based real estate agent claims a buyer and seller exempted him from his commission on a doctor’s office deal.
Brokerage firm Real Capital Partners is suing the buyer and seller of the three-building, 10-acre medical practice campus at 7400, 7500 and 7800 Southwest 87th Avenue in Miami, according to the lawsuit filed in Miami-Dade Circuit Court last month .
Real Capital is demanding a “competitive market commission” for the sale and claims the sale price was more than $50 million, according to the lawsuit. Industry-wide, such commissions can be 3 percent, which would equate to 1.5 million, which is generally split among brokers.
The buyer of the medical campus is ShareMD, owner and operator of medical coworking spaces based in Alpharetta, Georgia. ShareMD is led by CEO John Bardis.
SharedMD’s attorney, Danielle Gonzalez of Greenberg Traurig, told The Real Deal that the lawsuit has not yet been served on the company. She denied Real Capital’s allegations.
The sellers are affiliates of Pan American Cos., led by Carlos C. Lopez-Cantera, father of Florida’s lieutenant governor from 2014 to 2019 under former Gov. Rick Scott.
Carlos M. Lopez-Cantera, the former lieutenant governor, told The Real Deal he was not involved in the deal. The elder Lopez-Cantera did not respond to a request for comment.
The price of the deal has not been publicly announced, as ShareMD has bought the medical campus by acquiring the legal entities that own the buildings, the lawsuit says. These legal entities transitioned from LLCs incorporated in Florida to LLCs incorporated in Delaware with ShareMD-affiliated addresses.
Real Capital, led by principal broker Otto Travieso, claims ShareMD bought the buildings for more than $50 million and Pan American was looking to sell them for about $60 million. The agent was hired by ShareMD back in September 2019 to find South Florida properties for ShareMD to purchase, according to the lawsuit.
Real Capital introduced the buyer and seller, obtained information from the seller regarding rental listings and finances, and provided ShareMD with a letter of intent to purchase the properties, the lawsuit states.
In February, Real Capital agreed to a $300,000 commission from Pan American if the 7400 and 7500 buildings were sold for $36 million, the lawsuit says. A ShareMD representative verbally agreed to a 3 percent commission for Real Capital, which will be shared with another broker associated with the buyer if the deal goes through, the lawsuit alleges.
Real Capital claims that in April it asked a Pan American representative if the buyer and seller were under contract, to which it said no. The company then learned from news reports that PanAmerica had sold the buildings to ShareMD.
Other recently complain Disputes filed over commission disputes include Rose Bauer and her firm Rivero Real Estate accusing two other Miami luxury realtors of withholding a 5 percent commission from her, or about $520,000resulting from the sale of a 4,904-square-foot, four-bedroom unit in the boutique high-rise Palazzo Della Luna on Fisher Island.
Also this summer, a broker accused SL Green of framing them in a scam $1.4 million commission on a deal in New York, and a former realtor claimed that Tomer Fridman, Kim Kardashian’s real estate agent of choice, held back a split commission, according to a lawsuit filed in Los Angeles County Superior Court.