Hedge funds take aim at Florida real estate

Tampa Bay Online – Some consider them good capitalists. Others see them as opportunists. Still others call them vultures.

Whatever the name, hedge fund investors likely will be major players in Florida real estate in the next few years, buying up mortgage notes — troubled or not — for a fraction of their original value.

Often, the funds are passive investors. But here in Sun City Center, Jim Biggins is fighting to protect his family business, Cypress Creek Assisted Living Residence, from a Greenwich, Conn.-based hedge fund called Silver Point Capital.

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