Torose Equities’ Scott Sherman, Sabal Investment Holdings’ Pat Jackson and Azora Private's Juan José Zaragoza and Ignacio Gil-Casares with the office building at 3480 Main Highway in Miami (LinkedIn, Google Maps, Torose Equities).

Torose Equities and Sabal Investment Holdings flipped a formerly distressed office building in Coconut Grove for a $28 million gain.

The joint venture sold the five-story building at 3480 Main Highway for $61 million in an off-market transaction to Miami-based Azora Private, led by Juan José Zaragoza, Arturo Vinueza Eastman and Ignacio Gil-Casares, according to a news release. JLL represented the seller.