A Florida investor will soon take ownership of the Soleil Center property in Raleigh's Crabtree Valley.

RL Regi Financial, LLC bid $4.2 million for the 5-acre site on May 11.

Other buyers had until May 23 to submit a rival bid that had to be at least 5 percent higher. No rival bidders emerged.

RL Regi Financial is based in Miami, according to corporate records on file with the N.C. Secretary of State's office.

The entity has the same address as Rialto Capital Management, a real estate company that specializes in investing in distressed assets.

Rialto didn't return calls seeking comment.

A Florida investor cast the high bid in this afternoon's auction of the Soleil Center property in Raleigh's Crabtree Valley.

RL Regi Financial, LLC bid $4.2 million for the 5-acre site, according to Wake County court records.

Other buyers have until May 23 to submit a rival bid that must be at least 5 percent higher.

RL Regi Financial's bid was $2 million less than the amount the developer, the Soleil Group of Cary, owed Regions Bank.

The Soleil Group planned to build a 43-story tower on the site that would have included a hotel, spa and condominiums.

The developer spent $20 million pouring a foundation that would support a 43-story building before the project stalled.

RL Regi Financial is based in Miami, according to corporate records on file with the N.C. Secretary of State's office.