Terra Breaks Ground on Upland Park in West Miami-Dade, A $1 Billion Transit-Oriented Development

Terra has officially broken ground on Upland Park, a $1 billion mixed-use community that will transform the Dolphin Park-and-Ride Transit Terminal Facility into a 47-acre, transit-oriented development. Conceived in partnership with Miami-Dade County, the project will bolster public transit ridership while anchoring the new East-West Corridor of the County’s SMART…

$1B Upland Park Transit-Oriented Development Breaks Ground

A groundbreaking ceremony was held yesterday for the largest public-private transit-oriented development in Miami-Dade County’s history. Upland Park is being built next to the Dolphin Park-and-Ride Transit Terminal Facility . It is being developed on land that was producing zero public revenues previously. The new development will generate over one billion dollars in new rent…

Miami-Based Developer Proposes Complex with Workforce Housing at 8445 S.W. 94th Street in Kendall

A Miami-based developer has filed a pre-application for a multi-family housing community in Kendall. 8445 Galloway LLC wants to proceed with a six-story apartment building, requiring 53,218 square feet of new construction. Current plans call for 41 residences—10 of which would be designated as workforce housing. According to Miami-Dade County records, a family…

Harvey Hernandez, Two Roads selling piece of Miami River dev site

Developer Harvey Hernandez and Two Roads Development are under contract to sell a portion of their Brickell assemblage along the Miami River, The Real Deal has learned. Miami Beach-based Prosper, a development firm led by Jay Roberts, is working with an undisclosed partner to acquire the 1-acre property at 66 Southwest Sixth Street and 625 Southwest First Avenue…

Development district to finance Freedom Park improvements

The 58-acre public park promised in the Miami Freedom Park project will be backed by a dedicated fund and district, securing its maintenance, while officials are also committing $10 million in future funding to improve parks across the city. During the Feb. 13 meeting, the Miami City Commission approved two resolutions to secure funding for the maintenance…

Noguchi-designed fountain flows again, but higher, in Bayfront Park

Water is once again flowing through the newly renovated fountain at Bayfront Park, where its historic design meets modern enhancements. City officials gathered at Bayfront Park last week for an evening ribbon-cutting ceremony as the sunset and the Mildred and Claude Pepper Fountain’s vibrant, colorful display took centerstage. After decades of disuse, the iconic downtown…

Shoreline Review Application Submitted for 39-Story ‘Isle of Dreams’ at 1400 79th Street Causeway

A shoreline development review application has been submitted for Isle of Dreams, a 39-story mixed-use tower planned at 1400 79th Street Causeway in North Bay Village. Developed by Sunbeam 1400, LLC, an affiliate of Sunbeam Television,  and designed by Arquitectonica, the project marks the first phase of the Sunbeam NBV Special Area Plan (SAP), which was approved in 2022.

duPont REGISTRY Group Partners with Fortune to Develop Tower for Car Collectors in Magic City Innovation District

duPont REGISTRY Group, Fortune International Group, and Pininfarina have partnered to develop duPont REGISTRY Tower, a luxury tower designed for automotive collectors and high-end businesses in Miami’s Magic City Innovation District. The project will merge automotive culture with premium office and lifestyle spaces, offering a first-of-its-kind destination…

South Florida’s older, suburban office buildings ripe for deep discounts and conversions: panel

South Florida’s office market is in the midst of a deep exhale after years of pandemic-fueled momentum, according to members of Avison Young’s top brass. “I think we are taking a breath in South Florida right now,” said Greg Martin, a principal in the brokerage’s Fort Lauderdale/Boca Raton office. “In the last 12 months particularly, the nation has caught up with us.

Developer Proposes ‘Gallery in the Grove’ for 3170 Mundy Street in Coconut Grove

Related Urban Development Group has proposed a high-rise, mixed-income tower in Coconut Grove. The aptly named Gallery in the Grove would measure 20 stories above grade and comprise 248,265 square feet of new construction. It would be one of the tallest buildings in the area. Gallery in the Grove would feature 345 apartments; the South Florida Business Journal shares…

Two Roads’ Edgewater condo buyout at impasse: What could happen next?

It’s been nearly a year since a Florida appellate court entered a ruling in favor of the eight holdout unit owners at a bayfront condo in Miami’s Edgewater, putting the developer’s plans to build a luxury Edition Residences project in limbo. The developer, Miami and West Palm Beach-based Two Roads, and the holdout unit owners at Biscayne 21 still have not reached an agreement.

One Kane Breaks Ground in Bay Harbor Islands, Secures First Tenant BondST

Construction is now underway at One Kane, a 126,000-square-foot Class A office building rising at 9551 E Bay Harbor Drive in Bay Harbor Islands. The seven-story project will introduce Miami’s first office building with private boat access, offering reserved dock slips and boat valet service alongside a suite of high-end amenities. Developed by Taubco and Landau Properties…

Related Urban’s plan for $148M Coconut Grove mixed-income project nabs committee approval

Related Urban’s potential replacement of a Coconut Grove public housing project for seniors with a $148 million mixed-income multifamily project is gaining steam. Miami-Dade County Commission’s housing committee on Tuesday voted unanimously and without discussion in favor of Mayor Daniella Levine Cava negotiating a 99-year lease with Related Urban, led by President Albert Milo…

Indian Creek Residences & Yacht Club Tops Out in Bay Harbor Islands

Indian Creek Residences & Yacht Club has officially topped out in Bay Harbor Islands, reaching its full eight-story height. Developed by Landau Properties and designed by Kobi Karp Architecture & Interior Design, the boutique waterfront condominium is now over 80 percent sold, with only two residences remaining. Closings are anticipated to begin by the end of the year.

Baywood, Dolphin Capital score $36M loan for Wynwood’s Moxy hotel, as they bring in new partner

When DolphinBay Hospitality sold a majority stake in the Moxy Miami Wynwood hotel recently, the joint venture also secured $35.5 million in new financing. DolphinBay obtained the loan from Synovus Bank on Jan. 30, records show. The same day, Istanbul-based Süzer Group paid $99 million to become 52 percent owner of the recently completed 120-key hotel at 255 Northwest 25th Street.

Plans for 68-Story One Brickell City Centre Canceled Amid Market Shifts

Swire Properties has canceled its plans for One Brickell City Centre, a proposed 68-story office tower in Miami’s Brickell neighborhood. The decision comes after challenges in securing sufficient pre-leasing commitments, leading the company to list the 2.8-acre site at 700 Brickell Avenue and 799 Brickell Plaza for sale through brokerage firm CBRE….

Affordable Housing Development ‘Rainbow Village’ Starts Construction at 2000 NW 3rd Avenue in Miami

Construction has started on Rainbow Village, a mixed-use affordable housing complex in Miami. The 310-residence development will offer studio to four-bedroom homes, with the project itself comprising close to 700,000 square feet of new construction. Yield PRO shares that residency will be available to those earning at or below 30, 50, 60, 70, and 80 percent of the area…

Cymbal DLT scores $114M refi for Live Local Act apartment complex in Miami Gardens, as South Florida loans flow

Asi Cymbal scored a $114 million refinancing for a 341-unit Live Local Act apartment complex in Miami Gardens, as loans keep flowing in South Florida. Apollo Global Management and RXR Realty Investments provided the loan, which paid off the $102.5 million construction financing for the 14-acre Laguna Gardens at 20775 Northwest 17th Avenue, according to the developer’s news release.

Housing Trust Group Breaks Ground on $185M Affordable Housing Development in Miami

Housing Trust Group has broken ground on Rainbow Village, a $185 million affordable housing development located at 2000 N.W. Third Ave. in Miami.  Spanning 698,000 square feet, the community will feature 310 units alongside 12,000 square feet of retail space, 50,000 square feet of amenities and 442 parking spaces.  Units will be offered in studio, one-, two-, three…

The Residences at 1428 Brickell Secures Master Permit, Clearing the Way for Vertical Construction

Master permit approval has been secured for The Residences at 1428 Brickell, a 70-story, 195-unit residential tower in the heart of Brickell. Developed by Ytech and led by Yamal Yidios, the approval sets the stage for construction to move full speed ahead. Unlike phased permitting, the master permit allows the project to proceed without interruption, keeping…

Historic preservation board greenlights Keyah’s plans for new Miami Beach hotel

The Miami Beach Historic Preservation Board is keen on Keyah Real Estate Group’s plan to reshape nearly an entire Art Deco block between Washington and Collins avenues. On Feb 11, the board unanimously approved by a 5-0 vote a new 262-key hotel project by Aventura-based Keyah and Grup Peralada, a family office based in Barcelona, Spain.

Keyah Real Estate Group Unveils Plans for a New Iconic Miami Beach Hotel

Keyah Real Estate Group, a dynamic, rising hospitality developer with footprints in Miami and New York, is thrilled to unveil plans for a 262-key multi-structure boutique hotel, that is set to redefine the Miami Beach hospitality scene and become the city’s next hotel, wellness, and F&B destination. The project has just secured unanimous approvals from both the City of Miami Beach…

duPont Registry Tower Announced For Miami

Plans were announced this morning for a luxury tower for car collectors in Miami, to be called the duPont Registry Tower. duPont Registry is partnering with Miami developer Fortune International and Italian design firm Pininfarina on the project. The tower will house an invitation-only club for collectors of exclusive cars. It will be located in the upcoming Magic City…

Phased Vertical Permit Issued For 67-Story JEM Private Residences

The 67-story JEM Private Residences at Miami Worldcenter has been issued a phased vertical permit. Miami’s Building Department issued the permit this morning, allowing vertical construction work to commence. The 67-story tower is planned to rise to a height of over 700 feet. It will include 259 luxury condo units on the upper levels, and 530 multi-family units on the lower levels.

$25.8M Sale-Leaseback of Cold Storage Facility Near Miami Airport Arranged

Digiacomo Group and JLL have negotiated the $25.8 million sale-leaseback of a cold storage facility located at 2323 N.W. 72nd Avenue in Miami. The seller, produce distributor Sun Belle LLC, will lease back the 82,261-square-foot property from the new owner, locally based Iconic Equities LLC, which specializes in industrial outdoor storage (IOS) and traditional industrial…

Demolition Continues At One Bayfront Plaza Supertall Site

Demolition is continuing at the One Bayfront Plaza site in the heart of downtown Miami, new photos by Phillip Pessar show. The 19-story, nearly 70-year-old building is being demolished to make way for a new supertall tower. Demolition is taking place in phases. It began in 2023 with interior demolition, and recently progressed to demolition of its massive parking garage and retail…

Lease roundup: Morgan Stanley renews at Flow and Canada Global’s Aventura Corporate Center

Morgan Stanley kept its offices at the Aventura Corporate Center. The New York-based financial services behemoth renewed its 42,400-square-foot lease at 20801 Biscayne Boulevard in Aventura, according to a news release from the landlord’s broker. Christina Jolley of Blanca Commercial Real Estate represented the landlord. Adam Bernstein and Zach Wendelin of JLL…

DWS Sells Fort Lauderdale Office Tower for $220M

The office building at 401 E. Las Olas Blvd. rises 23 stories in Fort Lauderdale, Fla.’s financial district. Image courtesy of Square2 Capital The partnership of Highline Real Estate Capital, Square2 Capital and Lone Star Funds has acquired 401 E. Las Olas Blvd. in Fort Lauderdale, Fla.’s financial district. CBRE represented the seller of the 410,561-square-foot office asset…

Lone Star Funds, Highline, Square2 buy Bank of America tower in downtown Fort Lauderdale for roughly $220M

Three investment firms bought the Bank of America Plaza at Las Olas City Centre in downtown Fort Lauderdale for about $220 million, marking the second major office sale in the city this week. Lone Star Funds, through its real estate fund VII, Highline Real Estate Capital and Square2 Capital bought the 23-story building at 401 East Las Olas Boulevard, according to news…

Benjamin lists Fort Lauderdale dev site for over $33M, as construction prices continue to climb

Benjamin Companies put a 2.4-acre multifamily development site in Fort Lauderdale on the market for more than $33 million, amid elevated construction costs and slower rental growth. Garden City, New York-based Benjamin Companies scored approval in 2022 for a pair of 33-story towers with 542 apartments, combined, and 13,800 square feet of commercial space…

Bradford Allen pays $208M for Las Olas Centre I & II offices in downtown Fort Lauderdale

Bradford Allen Investment Advisors bought a two-building office complex in downtown Fort Lauderdale for $208 million, marking the biggest office sale this year. Chicago-based Bradford Allen bought the Las Olas Centre I & II at 350 and 450 East Las Olas Boulevard from DWS Group, according to the buyer’s news release, which doesn’t include the price. A source familiar…

Developer Seeks $6M CRA Incentive for 121-Unit Mixed-Use Project in Historic Sistrunk Neighborhood in Fort Lauderdale

A local developer is seeking $6 million in incentives from the Fort Lauderdale Community Redevelopment Agency (CRA) to support a mixed-use development in the Historic Sistrunk neighborhood. The proposal, part of the CRA’s Development Incentive Program, aims to stimulate economic growth in the historically Black community located just west of Flagler Village.

Related, BH and Pebb clear final hurdle for Office Depot campus mixed-use project

A partial redevelopment of Boca Raton’s Office Depot campus is set to go forward after receiving final city zoning approval. The Boca Raton City Council on Tuesday unanimously approved a site plan to demolish an existing office building to make way for an eight-story building with 500 apartments, nearly 43,000 square feet of retail and restaurant space and a 36,400-sf…

Terra, Frisbie win bid for Boca Raton City Hall redevelopment, plan 2M-plus sf mixed-use complex

Davd Martin’s Terra and Frisbie Group won a coveted bid to redevelop Boca Raton’s government campus, where the firms plan a 2.5 million-square-foot mixed-use complex. Terra and Frisbie beat three other contenders, including second-ranked bidder Related Ross, led by billionaire Steve Ross. On Tuesday, the Boca Raton City Council voted to select Coconut…

Related Ross Seeks Rezoning for Mixed-Use Development at K Park Site in Wellington

A rezoning application is moving forward for a 66.3-acre site in Wellington, where Related Ross, led by billionaire developer and Miami Dolphins owner Stephen M. Ross, plans to develop a large-scale mixed-use project. The site, K Park, is located at 10400 Stribling Way and is currently designated for community facilities and commercial uses. The Village of Wellington’s Planning…

Prologis Says Warehouse Leasing Rises After U.S. Election Eases Uncertainty

The world’s largest industrial developer and landlord said a burst of leasing since the U.S. November election has bolstered the company’s expectations for accelerating warehouse demand this year. Prologis signed a company record of more than 60 million square feet of leases in the fourth quarter, with most of the deals signed in the weeks after the Nov. 5 election reduced econo…

For Some CRE Owners, Insurance Now Gobbles Up Double the Revenue 

Since around 2018, property insurance costs began a steady march upward, almost universally across commercial real estate (CRE), broadly forcing property owners and lenders to strategically confront the reality of soaring premiums and shrinking availability. But much of CRE has also enjoyed significant rent growth, which has seemingly muted the overall impact to bottom line…

Reducing Costs & Increasing Value: Climate-related Trends for CRE in 2025 

While some elements of sustainability may face growing political headwinds, climate risk is engrained in CRE. Investors and lenders are focused on identifying opportunities to reduce costs, while also determining the long-term implications for asset value. Energy efficiency and resilience to extreme events address both of these concerns and thus are expected to stay…

Commercial Property Values Drive Optimism Around 2025 Investments, TD Bank Survey Finds

Despite rising energy costs, office vacancies, interest rates and economic uncertainties as the industry adjusts to a new administration, recent insights garnered from TD Bank’s survey at the CRE Finance Council Miami found that commercial real estate leaders are still excited for the opportunities this year could bring. More than 200 commercial real estate professionals…

Live Local Project The HueHub with 4,000 Units Moving Through Site Plan Approval

A massive Live Local development is continuing through the site plan approval process. The development name is listed as The HueHub in plans prepared by architect Arquitectonica and submitted to the county. The first site plan application for The HueHub was submitted in July. Yesterday, the third version of plans was submitted following the first several phases of review.

The Residences At 1428 Brickell Gets Master Construction Permit

Developer Ytech has been issued a master construction permit for The Residences at 1428 Brickell. The development is now on track to begin going vertical and make its impact on the Miami skyline. By obtaining a master permit first, the developer ‘underscores its commitment to delivering the project on schedule without compromise.’

Brickell City Centre Retail Remains 100% Leased At The Start Of 2025

Swire Properties says that its popular Brickell City Centre shopping mall continued to remain 100% occupied at the end of 2024. It is the second year in a row that the shopping center was 100% occupied. Brickell City Centre’s mall was also listed as 100% occupied at the end of 2023. That was the first time it had ever reached 100% since the complex opened in 2016.

$185M Rainbow Village Breaks Ground Next To Wynwood

Construction is now underway at Rainbow Village, according to a press release. The $185m mixed-use development is being built on county-owned land at the border of Wynwood in Overtown. Rainbow Village will include: 310 affordable housing units almost 12,000 square feet of retail more than 50,000 square feet of amenity space 442 parking spaces Units will be income restricted…

Contractor Selected For Riverside Wharf, Groundbreaking June

The developers of Riverside Wharf have selected a contractor and announced a groundbreaking date, according to the Herald. The project is now said to be valued at $300m. Moss Construction will serve as the General Contractor for the development. Groundbreaking is planned for June, with completion planned for 2027. Riverside Wharf will include a 167-room Dream hotel…

It was a spot to party on the Miami River. Now a hotel, club and raw bar are moving in

A slice of land on the Miami River where people had gathered to party, drink, do Sunday yoga and eat food truck fare will be transformed into a major waterfront development featuring a hotel, entertainment complex and an offshoot of a popular seafood house. The Wharf Miami closed in August 2023, but details and a timeline of what’s next for the now-vacant site…

World’s Largest Cruise Terminal Opens At PortMiami

MSC’s new terminal at PortMiami welcomed passengers for the first time on February 8. Currently, the terminal isn’t yet fully completed, around three years after groundbreaking. When it is full operational, the terminal will be able to handle three ships and 36,000 passengers simultaneously. There are reports suggesting that the cost to built the terminal has increased from $350M…

New Renderings & Sales Records For Brickell’s Mandarin Oriental Residences

Swire Properties has released new renderings and announced new sales milestones for The Residences at Mandarin Oriental in Brickell. The development will include two towers, one rising 850 feet with 228 residences and another rising 426 feet with 66 private and 28 hotel residences, along with a flagship Mandarin Oriental hotel. Condo units have been selling for a blended…

661-Unit Metro Parc North Transit-Oriented Development in Hialeah Breaks Ground

A groundbreaking ceremony took place yesterday for Metro Parc North, a transit-oriented development. The development will be a highly amenitized, Class-A building – said to be one of the first of its kind in the Hialeah area. It will have 661 rental units, and over 15,000 square feet of retail. The development will be located on a full city block steps away from the Tri-Rail/Metrorail…

Baron Begins Hialeah Luxury Project

Baron Property Group, a Miami- and New York-based developer, has broken ground on a 661-unit luxury multifamily property adjacent to the Metrorail station in Hialeah, Fla. Metro Parc North will rise next to Hialeah Hospital, one of the largest hospitals in Florida. Located at 983 E. 26th St., Metro Parc North is next to Metro Parc, Baron Property Group’s 559-unit mixed-use…

Kendall Parkway development back on fast track

A long-stalled bid to cut driving time from West Kendall to downtown by adding 13 miles to SR 836 is set to rev up after the county pulled out of a war over control of five tollways. Commissioners voted unanimously last week to exit the fight, clearing the way for the Greater Miami Expressway Agency to put Kendall Parkway construction in high gear.

Miami’s Bayfront Park may come under park department control

Miami officials are considering dissolving the agency responsible for overseeing the operations of downtown’s two waterfront parks and transferring its duties to a new division within the city’s Parks and Recreation Department. The Miami City Commission is to review legislation today (2/13) that would repeal part of the city code that established the Bayfront Park…

Commissioners To Vote On Abolishing Bayfront Park Management Trust

Miami Commissioners are scheduled to vote on a resolution that would abolish the Bayfront Park Management Trust. The trust was initially created to manage Bayfront Park. Later, the trust took control of Museum Park (which the city officially now calls Maurice Ferre Park). A total of three commissioners must vote in favor in order for the trust to be abolished…

Miami aims to preserve the green at new Freedom Park

As work on Miami Freedom Park progresses, the City of Miami is taking steps to secure funding for the upkeep of the 58-acre public park promised as part of the development deal. Miami commissioners are to vote today (2/13) on two key measures designed to secure funding for maintaining and enhancing the expansive green space guaranteed as a public benefit of the Miami…

Careful logistics let PortMiami handle record 13 ships in a day

Preparations and planning were the framework for smooth sailing when PortMiami seamlessly welcomed a record number on ships on a single day on Saturday in a dress rehearsal for even more ship traffic. Feb. 8 was a historic day at the port, said Hydi Webb, PortMiami director and CEO, as, for the first time, 10 cruise ships and three cargo ships were at the port at the same time.

Revolutionary vertical air cargo hub at MIA is five years away

A revolutionary vertical center that will increase Miami International Airport’s cargo capacity by 50% is working through 18 months of due diligence before construction can begin, with actual operation of the center still five years away, aviation officials say. A 40-year lease for Miami Gateway Partners to spend $400 million to develop and then operate the cargo center…

661-Unit Metro Parc North Breaks Ground in Hialeah

Baron Property Group has officially broken ground on Metro Parc North, a 661-unit residential development in Hialeah. Designed by Modis Architects and built by KAST Construction, the project will introduce Class-A multifamily housing with a range of amenities, located adjacent to the Metrorail station and Hialeah Hospital. Completion is expected in Q3 2027….

$35.5M Loan for Moxy Miami Wynwood Hotel Arranged

Atlanta-based Hunter Hotel Advisors has arranged a $35.5 million loan for the recapitalization of the Moxy Miami Wynwood, a 120-room hotel that opened in October. The developer of the eight-story hotel was a 50/50 joint venture between Baywood Hotels and Dolphin Capital Partners. Charlie Ryan and Adeel Amin of Hunter’s capital markets team arranged the loan through…

Baywood, Dolphin Capital score $36M loan for Wynwood’s Moxy hotel, as they bring in new partner

When DolphinBay Hospitality sold a majority stake in the Moxy Miami Wynwood hotel recently, the joint venture also secured $35.5 million in new financing. DolphinBay… The same day, Istanbul-based Süzer Group paid $99 million to become 52 percent owner of the recently completed 120-key hotel at 255 Northwest 25th Street. Charlie Ryan and Adeel Amin…

The Residences at Mandarin Oriental, Miami Reveals 100K SF of Amenities

Swire Properties has unveiled the first images of the extensive amenities at The Residences at Mandarin Oriental, Miami, located on Brickell Key. The development offers over 100,000 square feet of resort-style amenities within a lush, multi-tiered podium designed by Thai landscape firm Shma. The Residences will feature 11 pools—the most in any new Miami development…

Lennar Plans 178-Unit Townhome Development in Hialeah, FL

Lennar is under contract from Miami Lakes-based Ita Regio LLC to purchase an 18.2-acre property in Hialeah, FL. The South Florida Business Journal reports that 15.2 acres could be developed into a single-family housing development that would feature 178 townhomes. Every home would offer three bedrooms, and the complex itself would offer 356 surface parking spots…

In Park West, 65-Story E11EVEN Tower Has Topped Off

The first 65-story tower at E11EVEN Club Hotel & Residences has topped off. Developer PMG and E11EVEN Partners are building the dual-tower development in Park West. The first tower, E11EVEN Club Hotel & Residences, features residences and hotel rooms, while the second tower, E11EVEN Club Residences Beyond, offers condominiums. A foundation pour for the first tower…

Brickell’s Mercedes-Benz Places Launches Sales For Tower 2

Mercedes-Benz and JDS Development Group have launched sales for Tower 2 at Mercedes-Benz Places. The 67-story building is already under construction. The design of the cuboid tower is said to embody the Mercedes-Benz brand aesthetic. “We are transferring our significant automotive design expertise into architecture and with that make a strong…”

171-Unit Domus Brickell Park Tops Off

Domus Brickell Park has become the first development in Brickell to top off this year. With the shell now complete, the tower is on track to obtain a temporary certificate of occupancy by the end of 2025, with its hotel and residences on schedule to open in Q1 of 2026. The 12-story development will include 171 fully furnished, short-term friendly units. More than 60% of units…

New Edgewater Tower Submitted To FAA At 333 Feet

The planned height for Metro Edgewater’s second tower has been submitted to the FAA. Metro Edgewater’s first 32-story tower reached completion in 2023. The second tower, Metro Edgewater 2, was first revealed in a hearing before the Urban Development Review Board in 2024. It is planned to rise 28 stories. The height will reach 333 feet above ground, or 341 feet above sea…

Witkoff to revive Blavatnik and Scher’s long planned Ocean Terrace project in Miami Beach

Witkoff Group formed a joint venture with Ocean Terrace Holdings, reviving development plans for a mixed-use luxury condo project in North Beach, The Real Deal has learned. Witkoff, led by Chairman Steve Witkoff and his son, CEO Alex Witkoff, is joining existing partners Alex Blavatnik and Sandor Scher on Ocean Terrace in Miami Beach. The new partnership closed on…

E11EVEN® Club Hotel & Residences Tower One Tops Off in Downtown Miami

Construction has officially topped off at E11EVEN® Club Hotel & Residences Miami, marking a significant milestone for the dual-tower luxury development rising in Downtown Miami’s Park West neighborhood. Developed by PMG and E11EVEN Partners, the project is redefining resort-style, entertainment-driven living in the city’s evolving urban core….

MG, Vertical launch condo sales for Alhambra Parc in Coral Gables

MG Developer and Vertical Developments are launching sales for their planned Coral Gables project, Alhambra Parc. The 78-unit condominium is planned for 33 Alhambra Circle, according to a press release. MG Developer, led by Alirio Torrealba, landed a $14.5 million preconstruction loan for the project in October. Torrealba partnered with co-developer…

BGO & Dermot Complete Solar Panel Installation at Cordoba in Downtown Doral

BGO and The Dermot Company have completed the installation of a $1.7 million solar energy system atop the parking garages at Cordoba, a 454-unit apartment community in Downtown Doral. The new system is expected to generate enough electricity to cover 50% of the energy needs for the property’s common areas, including its amenity spaces….

Reserve Padel Opens First Permanent Club at SoLé Mia in North Miami

Reserve Padel has officially opened its first permanent club at SoLé Mia, a 184-acre master-planned community in North Miami developed by LeFrak and Turnberry. Located at 2251 NE 146th Street, the new 100,000-square-foot facility features ten professional padel courts, including six outdoor and four indoor courts with 35-foot ceilings, along with two dedicated pickleball…

Aconcagua Developers Proposes 162-Unit Apartment for 12867 S.W. 248th Street in Homestead

Miami-based Aconcagua Developers has proposed a mid-rise housing development in southern Miami-Dade County. The unnamed complex would measure eight stories and feature 162 units. Residences would include one-bedroom and two-bedroom floorplans, measuring 590 to 985 square feet each. Communal amenities would feature a dog park and ground-floor swimming pool.

Aconcagua proposes 162-unit apartment building in Princeton, amid a development rush on south Miami-Dade

A developer proposes a 162-unit apartment project in Princeton, amid a continued rush on south Miami-Dade County. Aconcagua Developers wants to build an eight-story building on a 3-acre site on the northwest corner of Southwest 248th Street and Southwest 128th Avenue in an unincorporated area of the county, according to an application filed late last month.

BH adds to portfolio, pays $83M for waterfront North Bay Village apartment complex

BH Group expanded its South Florida portfolio once again, dropping $83 million for a waterfront North Bay Village multifamily project. The Aventura-based firm acquired Wake Biscayne Bay, a complex of three 10-story buildings with 338 apartments at 7501 and 7525 East Treasure Drive, confirmed Isaac Toledano, who leads BH along with his wife, Liat Toledano.

Permit Issued For $2M Island Gardens Sales Center

A construction permit has been issued for a temporary sales center on Watson island. The structure will likely be used to sell condos at an upcoming development. The name on the permit is listed as Island Garden Sales Center. Miami’s Building Department issued the construction permit last month. The temporary facility will have two floors, rising 26 feet in height…

Related Urban wants to bring mixed-income apartments to Coconut Grove

Related Urban is eyeing a public housing site in Coconut Grove for a mixed-income multifamily project. The Miami-Dade County Commission housing committee on Tuesday will review a resolution that would authorize Mayor Daniella Levine Cava’s staff to begin negotiations with Related Urban, led by President Albert Milo. The firm is seeking a 99-year lease…

831-Foot Building Proposed In Downtown Miami

A filing has been submitted to the Federal Aviation Administration for an 800+ foot building in Downtown Miami. The filing was submitted on February 3. It requests approval to build a tower rising to a height of 831 feet above ground, or 840 feet above sea level. The site coordinates submitted with the filing appear to be the same as the Clear Residences property.

Developer files for bankruptcy over North Miami Beach apartment tower dev site, amid dispute with lender

Developer Celal Ozkan filed for bankruptcy on his North Miami Beach development site for a 341-unit apartment tower, marking the latest in his nearly yearlong dispute with the lender. Sky Gardens Residences, an entity tied to Ozkan, CEO of Turkish firm CEO Contract, is pursuing Chapter 11 reorganization on the 1-acre site at 16300 Northeast 19th Avenue.

With Over 75% Of Units Sold, The Perigon Miami Beach Gets $390M Loan

The developers of The Perigon Miami Beach have reached a sales milestone and obtained a massive construction loan, More than 75% of units have been sold, the developers said. Construction financing totaling $390 million has been issued by Eldridge Real Estate Credit. The Perigon will include 73 ultra-luxury condos. The building is being designed by OMA, led by architect…

The Last Carrot in Coconut Grove Forced to Relocate After 50 Years

After 50 years of serving the Coconut Grove community with fresh veggie sandwiches and healthy bites, the Last Carrot must relocate come November. According to Coconut Grove Spotlight, Coral Gables-based developer Allen Morris Company is slated to knock down the tiny strip mall located at 3133 Grand Ave., the home of the Last Carrot, to build a five-story, mixed-use office…

Poof! Judge dismisses foreclosure lawsuit against Masoud Shojaee

In one of the shortest lived foreclosure actions, City National Bank of Florida resolved a loan dispute with developer Masoud Shojaee in less than a month. On Jan. 24, Miami-Dade Circuit Court Judge Beatrice Butchko Sanchez approved the Miami-based bank’s motion to dismiss its lawsuit. Three weeks earlier, City National filed the complaint against Shojaee and an entity…

Launch party at Mercedes-Benz Places oozes pre-pandemic energy

Ugo Colombo walked into the Mercedes-Benz Places sales center launch wearing sunglasses with a light orange tint. Colombo glided through the building, sizing up the finishes for the planned Brickell condo project. The car enthusiast — he owns the luxury car dealership the Collection — is rarely seen at industry events. He was among a handful of developers and hundreds…

Lease roundup: Tech firm Kandji opening East Coast HQ in Coral Gables, Venture X outpost on tap in Miami Lakes

Tech firm Kandji will open its East Coast headquarters in Coral Gables. Kandji, which provides automation-forward Apple device management software, leased 30,000 square feet at 2811 Ponce de Leon Boulevard at The Plaza Coral Gables, according to the tenant’s news release. It will open on March 5. The San Francisco-based firm is led by CEO Adam Pettit.

Equinox preleases 31K sf at Oak Row’s Edgewater project, as it expands in South Florida

Equinox will open at one of Oak Row Equities’ mixed-use multifamily projects in Miami’s Edgewater, as it expands in South Florida, The Real Deal has learned. Equinox preleased 30,700 square feet at the 2600 Biscayne tower at 2600 Biscayne Boulevard, according to representatives for the tenant. The luxury gym is expected to open late next year or early 2027.

The Calta Group Secures $53.7 Million in Financing from Forman Capital for Two Projects in Downtown Hollywood

The Calta Group, led by brothers Ignazio and Gaetano Caltagirone, has announced closing a $53.693 million construction loan for two new rental apartment projects in Hollywood, Florida: Caltopia Hollywood and Caltopia Hollywood II designed by Kaller Architecture. The loans were provided by Forman Capital, under the leadership of Scott Mehlman, with advisory…

Calta lands $54M construction loan for Hollywood apartments, amid South Florida multifamily supply overhang

The Caltagirone brothers’ Calta Group scored a $53.7 million construction loan for a pair of Hollywood apartment projects with a total of 251 units. The deal comes as South Florida is dealing with a multifamily supply overhang following a yearslong construction flurry. Coral Gables-based Calta plans the 151-unit Caltopia Hollywood on a nearly 2-acre site at 2750 Van Buren Street…

Raimundo Onetto’s Alta plans 466-unit condo project on Hollywood site previously slated for apartments

Developer Raimundo Onetto plans a 466-unit wellness-focused condo project near the Hollywood Beach Golf Club, shifting from his previous plan for apartments, The Real Deal has learned. Onetto’s Miami-based Alta Developers will build Gaia Residences as a pair of 18-story towers with 72,000 square feet of amenities on a roughly 2-acre site at 401 North Federal Highway…

Dealership expanding? Craig Zinn Automotive pays $15M for Hollywood church site near its Toyota sales centers

Craig Zinn Automotive Group paid $14.5 million for a Hollywood church building that’s near its existing Toyota dealerships. The Hollywood-based auto dealer, led by CEO Craig Zinn, bought the one-story, 51,700-square-foot building at 1800 North State Road 7 from Hope Church of Christ, according to records and real estate database Vizzda. The building…

Miami Heat Co-Owner Raanan Katz Buys Pembroke Pines City Furniture Store For $15 Million

As someone who closely follows South Florida’s retail and real estate scene, I was intrigued to learn that City Furniture has decided to sell one of its Pembroke Pines locations. This property, located at 11211 Pines Blvd., just traded hands for $15.24 million. The buyer? RK Centers, a firm led by Miami Heat minority owner Raanan Katz—which already owns neighboring…

Miramar Commerce Park Gets New Pharma HQ

Miramar Park of Commerce comprises more than 5 million square feet across numerous low-rise buildings. Image courtesy of CommercialEdge Nearly two years after acquiring Aveva Drug Delivery Systems, DifGen Pharmaceuticals has relocated its corporate headquarters from Princeton, N.J., to Miramar Park of Commerce in Miramar, Fla.

Stiles Corp. Seeks Rezoning Request for Apartment Complex at 8201 to 8151 Peters Road in Plantation

Fort Lauderdale-based Stiles Corp. wants to proceed with a multi-family housing development in Plantation, FL. Currently, it’s seeking approval for a land use amendment and rezoning request of a 22.3-acre property––4.3 acres of which could host the new complex. Plans call for 385 apartments. Configurations include one-bedroom to three-bedroom models…

Boca Raton selects developers to build city hall campus

Two South Florida real estate development companies beat out Related Ross as the city of Boca Raton’s preferred partner to redevelop 30 acres of publicly owned land. The Boca Raton City Council unanimously ranked Boca Raton City Center LLC, a joint venture of David Martin’s Miami-based Terra Group and Palm Beach-based Frisbie Group, as the No. 1 choice…

La Clara condo owners in West Palm, allegedly “stripped” of promised luxury experience, sue development team

Condo owners at La Clara in West Palm Beach were promised a luxurious experience with high-end finishes “smooth and free of imperfections.” But now they’re alleging the finished product was anything but that. The condo association representing owners at the waterfront tower is suing the developer, an affiliate of Toronto-based Great Gulf, and the design…

First look: Vanderbilt reveals renderings for planned $520M West Palm Beach campus

Vanderbilt University revealed renderings offering a first look at its planned $520 million West Palm Beach campus. The proposed campus will span a total of 300,000 square feet, with the aim to serve 1,000 graduate students in tech and business programs when it is completed, according to a press release. Vanderbilt, known as “the Harvard of the South,” tapped Boston-based Elkus…

Video: First Street’s Jeremy Porter; climate risks could erase $1.4 trillion in U.S. property value by 2055

Climate Change and the Future of U.S. Real Estate: $1.47 Trillion at Risk The U.S. housing and commercial real estate markets are on the verge of a major transformation as climate risks escalate. According to a recent study by First Street Foundation, discussed here by First Street’s head of climate implications research Jeremy Porter, extreme weather patterns and rising insurance…

The Atlanta Fed’s REIN Team Looks Back at the Economy in 2024

As 2025 begins, the Atlanta Fed’s Regional Economic Information Network (REIN) looked at 2024 in the rearview mirror using what firms told us over the course of the previous year. Here are our key takeaways, which we will elaborate upon in this article: Growth in demand eased from pandemic-era highs, settling at more historically normal levels. Labor tightness has eased…

Affordable Housing Within America’s Housing Affordability Landscape; Notable Demand Despite Substantial Growth

Housing affordability discussions have become commonplace across the country resulting from  long-term housing supply challenges since the Great Financial Crisis (GFC) and short-term economic volatility through the pandemic and subsequent inflationary period. Despite possessing a variety of local housing ecosystems across America’s metros, housing affordability challenges…

Report: Final Quarter 2024 North American Net Absorption Trends in Industrial, Office Likely Temporary; Multifamily, Retail Net Absorption Trajectories Stickier

Lee & Associates’ 2024 Q4 North America Market Report looks back at the tenant demand, absorption rates and vacancy trends for industrial, office, retail and multifamily sectors nationwide to extrapolate what might be on the horizon for 2025 and beyond. While net absorption in industrial and retail is down from the same period in 2023, the reasons — too much…

Nationally, Five Apartment Communities Sell for Roughly $250 Million or More in 2024

Following record-setting sales in 2021 and 2022, investments in U.S. apartments plummeted in 2023 amid the rising cost of debt and economic uncertainty. However, sales picked back up in 2024. During the year, five apartment communities changed hands for roughly $250 million or more. A total of 5,700 apartment properties changed hands across the U.S. at a value…

Office Loan Maturity Monitor: Another Year in the Books. What Lies Ahead?

Highlights: $487.5 million of CMBS office loans reached fully extended maturity in December, bringing the total for 2024 to $15 billion 27.5% of the loans maturing in December paid off, the third lowest monthly rate of 2024 Full year 2024 saw minimal improvement over 2023, with the full-year payoff rate climbing from 35.9% to 38.5% Debt yield was far and away…

Groundbreaking Ceremony Held for Ella Miami Beach, a 10-Story Condominium at 6940 Abbott Avenue in North Miami Beach

Construction is officially underway on Ella Miami Beach, a 10-story, 103-unit boutique condominium at 6940 Abbott Avenue in North Beach. Developed by Constellation Group and The Boschetti Group, the project aims to bring a contemporary take on Miami Beach’s Art Deco heritage while expanding luxury residential offerings in the area. Ortega Construction…

Brickell’s Tallest-Ever Tower Is Now Rising Vertically

The tallest tower to ever break ground in Brickell is now rising vertically, according to a photo by Due Italiani a Miami. Cipriani Residences is planned to eventually reach a height of 80 stories, or 940 feet above ground, and 950 feet feet above sea level. Developer Mast Capital broke ground on the tower in February 2024, after securing a $600m construction loan that…

At Least 10K Residential Units Planned In City Of Miami Under Live Local Act

There are now over 10,000 Live Local residential units moving through the planning process with City of Miami boundaries. Miami’s Planning Department maintains a list of all applications received under the Live Local law, which went into effect in 2023. As of the end of 2024, a total of 32 Live Local plans had been received by the city. Some of the applications have…

Ella Miami Beach Breaks Ground, With 103 Residences Planned

Ella Miami Beach has held a groundbreaking ceremony, according to the development’s Social Media account. Ella will have 103 residential units offering short-term rental flexibility upon completion. The building is planned to rise 10 stories, with a design by Arquiteconica. Previously, the developer described the design of the building as having Art Deco curves with modern…

Development With 1,450 Live Local Residential Units Planned In Edgewater

An application to build a major development in Edgewater has been submitted to Miami’s Planning Department. For now, the project name is known only as 3180 Biscayne. The development is planned under Florida’s Live Local Act, which came into effect in 2023. Developers can bypass certain local zoning restrictions if they dedicate part of their new development to income-restricted…

Deauville redevelopment secures Miami Beach planning board’s blessing

The Meruelo family and David Martin are one step closer to securing approval to build on the former site of the Deauville Beach Resort in Miami Beach. The city’s planning board unanimously recommended at its meeting on Tuesday that the Miami Beach City Commission approve land use changes that will allow the developers to build a larger project on the 3.8-acre oceanfront…

Miami’s Office Market Topped the Charts in 2024

The Miami office sector posted strong fundamentals throughout 2024, according to the latest CommercialEdge data. The metro marked a more than 41 percent jump in investment volume year-over-year, recording the busiest period in the last quarter. Last year, high prices in the Magic City placed it fourth in the nation, the market also emerging as the most expensive…

Dead deal: Related Urban cancels mixed-use project at former Homestead city hall

After nearly four years of negotiations, Related Urban is backing out of a pending deal to partner with the city of Homestead on a major mixed-use project, The Real Deal has learned. Last week, the affordable housing arm of Coconut Grove-based Related Group, led by Jorge Pérez and his sons Jon Paul and Nicholas Pérez, notified city officials that Related Urban is out.

Construction Braces For Impacts Of Tariffs, Deportations

Implications of trade tariffs and immigration policies could impact the construction industry, according to local experts. Trade tariffs could lead to inflation and recession, as has happened historically with tariffs. This could have significant impacts on the construction industry, affecting both costs and demand, said Lisa Colon, a partner at Saul Ewing. “The tariffs on materials imported from…

Transit team calls on Trump for help with Amtrak

In hopes the train hasn’t already left the station, the Citizens’ Independent Transportation Trust is urging Amtrak to reconsider keeping its vow to use the depot that the state built for it in Miami and is asking federal officials for help. The trust “is disappointed in Amtrak’s reversal to extend its passenger rail service to the [Miami Intermodal Center], where a more logical terminus…

Citadel developer goes back to drawing board, gets OK

A developer working to reactivate the rehabilitation of the historically designated Salvation Army Citadel building in Miami, and develop an adjacent property, has gained city support after a redesign. Owner-developer 49 NW 5th Street LLC is proposing the major rehabilitation of the historic site at 49 NW Fifth St. and 50 NW Sixth St. The applicant plans a restoration of the…

70-story tower ups contribution and enters Brickell Metrorail zone

A 70-story tower encompassing 464 residences, retail space and a performing arts venue near the Brickell Metrorail station has won unanimous county approval to apply development criteria of the Metrorail Subzone of the Rapid Transit Zone. In the process, Millennium Developments of Brickell LLC last week raised its voluntary contribution to improve area transit stations…

Plans Revealed for The James Hotel & Residences, an 82-Story Supertall Tower in Downtown Miami

Mint Developers and Sonesta International Hotels Corp. have announced plans for The James Hotel & Residences, an 82-story mixed-use supertall at 231 East Flagler Street in Downtown Miami. Estimated to cost $850 million, the project will introduce a blend of luxury residences and hospitality, becoming one of Miami’s tallest buildings. The project is designed by Idea…

Partnership Unveils Plans for $850M Hotel, Residential Skyscraper in Downtown Miami

A partnership locally based firm Mint Developers, hospitality owner-operator Sonesta International Hotels Corp. and property manager AD1 has unveiled plans for an $850 million hotel and residential project in downtown Miami. The James Hotel & Residences in Downtown Miami will comprise 336 fully furnished, for-sale residences and roughly 200 hotel rooms. At 82 stories…

82-Story Supertall Planned In Downtown Miami

Sonesta International Hotels Corporation says it has executed an agreement to build The James Hotel & Residences Downtown Miami. The 82-story $850 million, building will be a supertall, a press release said. A separate press release by AD1 Hospitality says the building will be the tallest in Miami. It will also have the highest elevation luxury bar and restaurant in the Americas.

Mint Developers plans $850M Sonesta supertall in downtown Miami

Mint Developers is teaming up with Sonesta International Hotels on the James Hotel & Residences, a planned supertall in downtown Miami. The two companies revealed their plans for the $850 million, 336-unit condo-hotel tower, a block west of Biscayne Boulevard. It will mark the first residential building for the James, one of Sonesta’s brands.

Demolition, Construction Permits Submitted For Urban Core Site Near Former Omni – 400-Foot Tower Planned

Applications for new construction and total demolition permits have been submitted for a property near the former Omni. The FAA also granted height approval last week for the new tower, at 380 feet above ground, or 388 feet above sea level. According to the master construction permit filing with Miami’s Building Department, the new development will have 33 floors…

SkyRise Miami Was Resubmitted To The FAA Yesterday

The Federal Aviation Administration has received an application to approve the height of SkyRise Miami. The agency received the application on February 3, 2025. It’s not clear who submitted it, or if it would look the same as an earlier proposal. According to the filing, SkyRise is planned to rise 1,045 feet above ground, or 1,049 feet above sea level. The application cites…

Miami-Dade Could Eliminate Parking Minimum In Government Center Subzone

Miami-Dade Commissioners were scheduled to vote today on eliminating a parking requirement for new developments in the Government Center Subzone of the Rapid Transit Zone. All properties within the Government Center Subzone are County-owned or County-developed properties. The area is served by Metrorail, Metromover, Tri-Rail, Brightline, and Bus Rapid Transit.

Viceroy Residences Aventura Launches Sales

Plans have been unveiled for Viceroy Residences Aventura. Viceroy Residences Aventura will include 274 residential condos, becoming the first new construction condos in Aventura in nearly 7 years, according to the developers. Residents will have access to 36,000 square feet of amenities, including a rock climbing wall, pickleball courts, and an indoor basketball half court.

Commissioners Vote In Favor Of 70-Story Calle 8 Brickell Tower

Brickell’s planned 70-story Calle 8 tower received a key approval from Miami-Dade last week. County commissioners voted unanimously to approve a special exception for a general development plan for Calle 8. The vote came at Miami-Dade’s Comprehensive Development Master Plan & Zoning. Commissioner Eileen Higgins noted several positive aspects that the development…

Kolter Group, BH list oceanfront Miami Beach condo dev site with whisper price of $110M

A joint venture between Kolter Group and BH Group is looking to sell an oceanfront development site in Miami Beach for a big profit. Delray Beach-based Kolter and Aventura-based BH tapped Berkadia to market the 1-acre property at 6985 Collins Avenue with a whisper price of $110 million, The Real Deal has learned. The developers paid $24 million…

Revised Demo Permit Approved For Santander Site In Brickell

Miami’s Building Department has approved a revision to a demolition permit for the Santander Tower site in Brickell. The revision was approved on January 31. It appears to be the second revision to the permit. Another revision was approved in December. Meanwhile, a dewatering permit application was submitted to Miami-Dade for the site in January. Coastal Construction…

Downtown Miami Fountain Is Now On, With 500 Lights & 800 Water Jets

The large fountain at Bayfront Park has been turned on following extensive construction. Renovation of the fountain cost $5.5 million, according to Axios. It will additionally cost an estimated $20,000 to $30,000 per month to operate, the report said. The fountain now features extensive upgrades compared to when it originally opened in 1990. There are over 500 lights…

FAA Filing Reveals Potential 1,000-Foot Tower in Brickell Adjacent to I-95

A filing with the Federal Aviation Administration (FAA) suggests the potential for another supertall tower in Brickell, with new permits requesting a height of 1,000 feet, or 1,010 feet above sea level. The filing, submitted on January 28, lists the project under the name “Brickell Mixed Use” and describes it as a multi-purpose building. However, it remains unclear whether the FAA…

1000-Foot Mixed-Use Building Planned In Brickell

A filing with the Federal Aviation Administration reveals that yet another supertall tower is under planning in Brickell. The filing was received by the agency on January 28. The structure will be a multi-purpose building, the application states. For now, the building name is listed in the filing as Brickell Mixed Use. Coordinates submitted with the filing show it will be built…

As part of $850M nationwide leaseback deal, AT&T sells 10 South Florida sites for $63M

AT&T has disconnected its ownership of 10 South Florida sites, selling the office/industrial properties to Reign Capital for a combined $62.9 million. An affiliate of New York-based Reign acquired buildings spanning roughly 1 million square feet in Coral Gables, Homestead, Miami, Miami Gardens, Sunrise and West Palm Beach, records and real estate database Vizzda show.

Ira Giller aborts Miami Beach project, sells dev site to Miami jewelers planning bigger development

Ira Giller canceled plans for a Miami Beach mixed-use building, after selling his development site to jewelers assembling land for a larger project, The Real Deal has learned. Gateway Group, a Miami Beach-based firm led by the architect, Jason Giller and other family members, sold three retail buildings at 976 West 41st Street, 3907 Alton Road and 3915 Alton Road for a combined…

BridgeInvest Provides $15.7M Loan for 53-Story Tower at Miami Worldcenter

BridgeInvest has closed a $15.7 million loan to refinance existing debt on Block C East, a 1.4-acre development site at 155 NE 10th Street within the Miami Worldcenter district. The financing supports plans for a 53-story mixed-use tower by Falcone Group, further expanding the 27-acre Miami Worldcenter, one of the largest mixed-use developments in the country….

Industrial gain: TA Realty sells Miami-Dade warehouses for $22M, more than double its purchase price in 2019

Fresh off buying a Blackstone Opa-Locka industrial portfolio for nine figures, TA Realty sold a nearby warehouse complex for $22 million, marking a sizable gain. An affiliate of Miami-based Midtown Capital Partners, led by CEO Alejandro Velez, acquired the two buildings spanning 83,000 square feet at 5261 Northwest 161st Street in unincorporated northwest Miami-Dade…

Escapology, OAKBERRY, and Petricor Join CityPlace Doral’s Expanding Retail Lineup

CityPlace Doral has announced the addition of three new tenants to its retail and entertainment offerings: Escapology, an immersive escape room experience; OAKBERRY, a global quick-service superfood brand specializing in açaí bowls and smoothies; and Petricor, a fashion destination. These new arrivals continue diversifying the lifestyle center’s dining, retail, and entertainment options….

Süzer buys majority stake in Wynwood’s Moxy hotel for $99M

Süzer Group bought a majority stake in the Moxy Miami Wynwood hotel for $99 million, The Real Deal has learned. The Istanbul-based firm purchased a 52 percent stake in the eight-story, 120-key building at 255 Northwest 25th Street in Miami, Baran Süzer said. The deal, which closed on Thursday, includes the Sparrow Italia and Casa Madera restaurant spaces in the building.

Site Work Starts on ‘The Delmore’ at 8777 Collins Avenue in Surfside

Dubai-based DAMAC International has started site work on a 12-story high-rise tower on the former site of the collapsed Champlain Towers South in Surfside. The Delmore will comprise 37 ultra-luxury residences, with the condos averaging 7,000 square feet and the penthouses starting at 10,000 square feet. The Real Deal reports that layout plans include four-bedroom to five-bedroom…

DAMAC Kicks Off Luxury Surfside Project

Dubai-based DAMAC International has broken ground on The Delmore, a 37-unit, ultra-luxury condominium development in Miami’s Billionaire’s Triangle. Zaha Hadid Architects designed the project that is slated for completion in 2029. New York-based Douglas Elliman is the exclusive broker in charge of sales at the property. Prices will start at $15 million, The Real Deal reported.

Meet Ken Griffin’s platoon of planners and professionals building his business in South Florida

In less than three years, billionaire Ken Griffin has turned into one of South Florida’s biggest real estate tycoons. The Daytona Beach native with a net worth of $43.8 billion, per Forbes, moved his hedge fund Citadel and its sister financial services firm Citadel Securities to the Magic City from Chicago in 2022. Griffin has since amassed a residential and commercial real estate…

Why condo developers flush with optimism should think twice

Some condo developers experienced slower sales in 2024. That didn’t stop developers from launching more projects. Expect more of that this year, developers and brokers say. The consensus is that condos are still “where we can make the numbers work,” says developer Gaetano Caltagirone. Multifamily is way more challenging (see last week’s Weekly Dirt) and some…

Miami-Dade Commissioners Vote in Favor Of 42-Story Tower

Miami-Dade commissioners voted today to approve a zoning application for a 42-story tower next to a historic church. The favorable vote came at a county Comprehensive Development Master Plan & Zoning meeting. The approval is for a special exception for a general development plan, under Miami-Dade’s Rapid Transit zoning plan. In order to gain approval…

Raanan Katz boosts retail empire, pays $15M for City Furniture showroom

Raanan Katz’s RK Centers added a second Broward retail property to its portfolio in less than three months, paying $15.2 million for a furniture store. An affiliate of Sunny Isles Beach-based RK acquired a City Furniture showroom at 11249 Pines Boulevard in Pembroke Pines, records and real estate database Vizzda show. The deal breaks down to $243 a square foot…

CSL Partners, Presidium buy 260-unit Hialeah apartment complex for $95M, plan Live Local Act conversion

CSL Partners and Presidium scooped up the 260-unit Pura Vida Hialeah apartment complex for $95 million, with plans for a Live Local Act conversion, The Real Deal has learned. Montreal-based CSL Partners, a joint venture between Benjamin Farkas and Brandon Chemtov, and Dallas-based Presidium bought the property at 3051 West 16th Avenue in Hialeah from Coral Rock…

Retail asking rents rise across South Florida in fourth quarter

South Florida retail landlords boosted their asking rents during the fourth quarter of last year, while investors continued scooping up shopping centers, especially properties anchored by Publix grocery stores, a recent report shows. Yet, restaurants and the big box sector felt the effects of national chains filing for bankruptcy last year. More than 95 companies closed 211 sites…

NYC Bagel Company H&H Bagels Opening 5 Miami Locations

After causing a frenzy in Boca Raton with lines out the door, famed New York City bagel shop H&H Bagels is headed to South Florida where it will open five locations in Miami. Founded in 1972, the legendary fresh bagels shipped directly from New York City will finally be available down in Miami, where authentic New York bagel lovers will be in for a treat. Not only will the longtime…

Pinnacle proposes 110-unit affordable housing project in Princeton, as development rush in south Miami-Dade continues

Pinnacle proposes a 110-unit affordable apartment project for seniors in Princeton, amid a continuing development rush in south Miami-Dade County. The Kendall-based firm wants to build the eight-story building with 1,000 square feet of ground-floor retail on a 1-acre site on the southeast corner of South Dixie Highway and Southwest 250th Street in unincorporated Miami-Dade…

Allen Morris launches sales of Ponce Park luxury condo project

Allen Morris Company is launching sales of its luxury condo project in Coral Gables, about nine months after securing approval from the city. The Coral Gables-based firm, led by W. Allen Morris and his son, Spencer Morris, plans to build Ponce Park at 3000 Ponce de Leon Boulevard. Prices for condos at the 11-story, 58-unit building start at $2.4 million, according…

Notable Retail Leases Signed in South Florida Q4 2024

We’ve compiled a comprehensive list of the top retail leases signed by square footage in South Florida during 2023. This past quarter was busy overall, and there were a few big box leases signed and sealed. Despite the sentiment that the traditional retail market is taking a hit due to several factors, particularly e-commerce and several retail store closures nationwide…

Lease roundup: Niku X restaurant opening in South Beach, Equinox coming to Boca Raton

Hospitality firm Chubby Group will open its upscale buffet-style restaurant Niku X in South Beach, The Real Deal has learned. Philadelphia-based Chubby Group leased 10,000 square feet at 555 Washington Avenue in Miami Beach, according to Aaron Butler, the landlords’ broker. Niku X will open early next year at the four-story office building.

Hallandale Beach board green-lights BH, Prime’s Homewood Suites by Hilton hotel project

BH Group and Prime Group are a step closer to building a new hotel near Gulfstream Park. The Hallandale Beach Planning and Zoning Board on Monday unanimously approved the joint venture’s site plan for a Homewood Suites By Hilton hotel at 804 South Federal Highway, city records show. Designed by Hollywood-based Prime Design Associates, the planned…

HTG Seeks Approval for ‘Paramount Place’ at 826 S. Dixie Highway and 2115 Washington Street in Hollywood

Coral Gables-based Housing Trust Group (HTG) is seeking approval for “Paramount Place”, an affordable housing development for seniors in Broward County. Plans call for an eight-story building comprising 162,541 square feet of new construction. There would be 96 residences ranging 699 to 1,066 square feet, with floorplans including one-bedroom and two-bedroom designs.

Developer Proposes Expansion of ‘the Celtic Apartments’ at 4682 and 4724 Davis Road in Lake Worth Beach

As it stands, the Celtic Apartments in Palm Springs is a mostly vacant multi-family complex built in the early 1990s. Yet, a developer hopes to expand the number of units by 325 percent with the addition of 26 residences, bringing the total number of homes to 46. According to the South Florida Business Journal, 17 homes would be available to those earning up to 140 percent…

Investor sues developers of Icon Palm Beach Shores over allegedly unpaid loans

The developers of Icon Palm Beach Shores are facing yet another lawsuit tied to the luxury condo project. Investor Daniel Perla sued Marc Shulman, Anthony Shafer, IRC Equities III FL, Icon Development Holdings I, Icon Dev Owner I and ARKNH Servicing in Palm Beach County Circuit Court last week. Perla alleges he is owed $4.9 million in unpaid loans that…

Henderson Park-led JV takes over PGA National Resort in $400M-plus deal

Henderson Park, Salamander Collection and South Street Partners teamed up to purchase the PGA National Resort in Palm Beach Gardens. The Henderson Park-led joint venture paid more than $400 million for the 807-acre property at 400 Avenue of the Champions, a source familiar with the deal told The Real Deal. The buyers declined to comment. PGA National Resort…

With Trump back in office, all eyes are on a changed Palm Beach

Election Day in Palm Beach was relatively quiet. The skies were overcast and schools were closed. Traffic caused by Donald Trump’s motorcade escort to the island’s polling place was intolerable, so the kids stayed home. Palm Beachers, ever a crowd who love to lunch, wore their “I Voted” stickers to their usual spots at Sant Ambroeus and the Honor Bar. The commotion…

What Deregulation Could Mean for CRE Bank Lending

Last week, President Trump issued an executive order to Federal agencies to cut 10 regulations for every new one they institute. This regulation-light approach could have some positive implications for commercial real estate bank lending, which has fallen off considerably in recent years. For example, big banks, those with assets of $100 billion or more…

New Data on Property Insurance Nonrenewal Rates, Claims, Premiums

Earlier this month, the Federal Insurance Office released a detailed report, “Analyses of Homeowners Insurance Markets, 2018-2022: Climate-Related Risks and Other Factors.” While it focuses on homeowners’ insurance, we know that commercial property insurance is facing similar stresses. Trends in premiums, claims and nonrenewals provide insight into where…

The (Student) Housing Crisis

Class, exams, studying…and rent? For students already juggling the demands of school, work, and building their future, the rising cost of housing is becoming an increasingly pressing challenge. The housing affordability crisis—marked by shifting rent-to-income ratios, a limited supply of affordable housing, and growing demand—has dominated discussions in recent years.

What’s Propelling Florida’s Waterfront Development Rush?

A 50-foot-wide linear park at River Landing adds a serene, green escape to the riverfront setting. Image courtesy of River Landing Shops & Residences Florida’s waterfront commercial development boom is being driven by migration, demographic shifts and evolving tenant preferences, creating a surge in demand for mixed-use, lifestyle-driven spaces. According to Ryan Shaw…

Video: BGO Chief Economist Ryan Severino; Commercial Real Estate Market Forecast 2025

In a recent episode of America’s Commercial Real Estate Show, the host of the show welcomed Ryan Severino, Chief Economist with BGO, to discuss the evolving landscape of commercial real estate. Their conversation, which was national in scope, touched on key economic indicators, capital markets, policy shifts, and emerging investment opportunities that will shape…

Blackstone’s Gray Says ‘Office Has Bottomed,’ Eyes 1.5M SF Manhattan Tower

Blackstone surprised analysts Thursday, both because it beat expectations in its fourth-quarter earnings and because the private equity giant is looking for opportunities in office space. The strong earnings were bolstered by fees from the firm’s management and advisory services. Its flagship real estate funds were down modestly in the fourth quarter, but Chief Operating…

Developers Question Whether Florida’s Live Local Act Can Actually Help Residents Live Local

The Live Local Act, which overhauled rules over zoning and development across Florida, was drafted to address the Sunshine State’s affordable housing crisis. But as the law approaches its second birthday, developers say it hasn’t been enough for them to get projects off the ground and deliver more lower-cost housing. “I keep hearing ‘Live Local, Live Local,’ but I don’t hear anything…

Ramola Motwani: Merrimac Ventures chairwoman on transforming their motel business, more…

For years, Nitin and Dev Motwani have been the talking heads (and managing partners) of their family company, Merrimac Ventures, which has completed more than $3 billion in projects in South Florida. But the two brothers wouldn’t be in their positions without their mother, Ramola. Ramola Motwani and their father, her late husband Ramesh “Bob” Motwani, moved…

Amazon to Anchor 1 MSF Wynwood Plaza Mixed-Use Development

Amazon (NASDAQ: AMZN) has signed on to anchor Wynwood Plaza, a 1 million-square-foot mixed-use campus nearing completion in Miami’s Wynwood Arts District. The Seattle-based e-commerce giant will occupy 50,333 square feet within the development’s 12-story office tower that is set to deliver in the coming months. The landlords in the lease transaction are New York…

Amazon to Open Wynwood Office

The 12-story Wynwood Plaza office tower is set to come online in the next months. Image by Gensler, courtesy of L&L Holding Co. In the largest office lease ever recorded in Miami’s Wynwood submarket, Amazon agreed to occupy 50,333 square feet at Wynwood Plaza, a 1 million-square-foot mixed-use development. L&L Holding Co. and Oak Row Equities are the owners.

Amazon Signs Largest Office Lease in Wynwood’s History at Wynwood Plaza

Amazon has signed a 50,333-square-foot lease at Wynwood Plaza, marking the largest office lease ever recorded in Miami’s Wynwood submarket. Developed by L&L Holding Company, Oak Row Equities, and partners Shorenstein Investment Advisers and Claure Group, the mixed-use campus at 95 NW 29th Street features a 12-story, Class AAA office tower with 266,000 sf…

Amazon Signs Record-Breaking Lease in Miami’s Wynwood Plaza

Miami’s Wynwood Plaza is getting a big name, as Amazon has struck a deal to form a 50,333-square-foot office space. That marks the largest office space ever signed in Wynwood, according to a statement by L&L Holding Company and Oak Row Equities, which struck the agreement with the tech giant. Project partner Shorenstein Investment Advisers…

Amazon leases 50,300-square-foot office at Oak Row, L&L’s Wynwood Plaza project

Amazon will open an office in Miami’s Wynwood, giving a boost to the neighborhood’s push to attract tech firms and become “Silicon Valley of the South.” The Seattle-based company, founded by billionaire Jeff Bezos, leased 50,300 square feet at the Wynwood Plaza mixed-use project under development by Oak Row… Wynwood Plaza, at 95 Northwest 29th Street, is…

Miami Industrial Market Starts 2025 Facing Record Deliveries, Soft Absorption

Miami’s industrial market encountered significant challenges as 2024 closed, navigating a surge of new supply and rising vacancy rates. But the peak could be nigh. An unprecedented 5.6M SF of industrial space delivered in Miami-Dade County in 2024, according to a fourth-quarter CBRE report. The influx of new space coincided with a rise in vacancy rates…

The Delmore Launches In Surfside, With Swimming Pool Suspended In Air

Dubai-based developer DAMAC has launched The Delmore in Surfside. The ultra-luxury residential building is being built on the former Champlain Tower usite. Zaha Hadid Architects is designing the 12-story building with a flow-through canyon and a GFRC exterior façade designed to look and feel like the sand on the beach behind the building…

Damac Unveils Plans For $15M ‘Mansions In The Sky’ On Surfside Collapse Site

Dubai-based Damac Properties has launched sales at The Delmore, its luxury condo development set to rise on the site where the Champlain Towers South collapsed, killing 98 people. The developer’s international arm, Damac International, has started construction on the project, where the 37 units, referred to as “mansions in the sky,” will range between 7K SF and 10K SF…

Damac reveals Delmore luxury condo project on site of deadly Surfside collapse

Dubai developer Damac Properties is launching sales for the luxury condo project it plans to build on the site of the deadly Surfside condo collapse. The 12-story, 37-unit development is called the Delmore. Zaha Hadid Architects is designing the oceanfront building at 8777 Collins Avenue. The tragedy killed 98 people when Champlain Towers South collapsed overnight…

Related and 13th Floor team up on $97M acquisition of Aventura apartment complex

Related Group and 13th Floor Investments joined forces to buy a waterfront Aventura apartment complex, The Real Deal has learned. The Coconut Grove-based firms paid $96.5 million for Arium Lincoln Pointe, a 285-unit property at 17900 Northeast 31st Court, a source familiar with the deal told TRD. Related, led by Jorge Pérez and his sons, Jon Paul…

Architect: Miami Freedom Park ‘A Vision For Future Of Urban Living’

The under-construction Miami Freedom Park is “a vision for the future of urban living,” according to master-planner Arquitectonica. The company is overseeing the 130-acre development, which is being built on a former public golf course. “The master plan integrates green spaces, vibrant public amenities, and cutting-edge design, creating a community hub that will serve…

Miami UDRB Approves 45-Story First and Fifth Tower with Perfect Transit Score

Miami’s Urban Development Review Board voted this month to unanimously approve Downtown Miami’s First and Fifth tower. The location for First & Fifth features a rare perfect transit score of 100. MiamiCentral with Brightline, Metrorail, Tri-Rail, and the Metromover, is directly across the street. Developer Oak Row Equities said in a statement that transit-oriented…

Top Brickell offices near $100 per square foot

Top tier office space rents in the Brickell area are approaching $100 a square foot on average, two new brokerage reports show. Those rates are almost double the average office space rental rates for the county as a whole. “Class A Brickell rates continue to rise, increasing by 5.7% year over year to $101.76 per square foot,” the fourth quarter office report from CBRE said.

$8.4M Sale Negotiated of Retail Strip Center Blue Grotto Plaza in Miami

Marcus & Millichap has negotiated the $8.4 million sale of Blue Grotto Plaza, an 11,890-square-foot retail strip center located in Miami. Built in 1973 and renovated in 2023, the multi-tenant property features a mix of service-oriented businesses and food-and-beverage tenants, including 10 retail spaces and 68 parking spaces. Jonathan De La Rosa and Matthew…

Plans for ‘Legacy Park’ Revised a Third Time, Slated for 13850 SW 248th Street in Homestead

Miami-based 248th Street Properties LLC has revised plans for Legacy Park, a project Florida YIMBY covered in last year’s fourth quarter. In 2019, two years after the site’s acquisition, the developer intended to proceed with 144 apartments. Yet, after the passing of Rapid Transit Zone rules that allowed for higher residential density, it revised plans and increased the number…

UHealth leases wing of Downtown Doral retail expansion

The University of Miami Health System has leased an entire wing of Downtown Doral’s upcoming retail expansion. Located at Northwest 87th Avenue and Northwest 53rd Terrace, which was recently designated UHealth Way, UHealth will occupy an 11,243-square-foot space, which will include comprehensive eye care from Bascom Palmer Eye Institute and physical therapy…

UHealth Signs 11,243 SF Retail Lease at Downtown Doral

Codina Partners has announced that the University of Miami health system (UHealth) will occupy an 11,243-square-foot wing at Downtown Doral, a 250-acre mixed-use community in metro Miami. The tenant is part of the property’s 25,000-square-foot retail expansion, which is located at the intersection of N.W. 87th Avenue and N.W. 53rd Terrace and will include 929 parking garage…

Lease roundup: UHealth will anchor Downtown Doral expansion, Charleston BBQ opening in Little River

The University of Miami Health System will expand its medical care outposts to Downtown Doral. UHealth leased 11,200 square feet at the intersection of Northwest 87th Avenue and Northwest 53rd Terrace in Doral, according to the landlord’s news release. The health care outpost will offer eye care by Bascom Palmer Eye Institute and physical therapy, including pelvic floor…

Can Miami Executive Airport become spaceport?

Florida legislators will be asked to designate land at and near Miami Executive Airport in West Kendall as a spaceport territory, which could create economic benefits including tax incentives for aerospace-related businesses in the area. County commissioners voted 10-2 to seek the designation two days after President Donald Trump promised to send spacecraft and astronauts to Mars.

Gabriel Navarro: His MMG Equity is growing commercial realty, ski resort

After spending over 20 years leading Navarro Discount Pharmacies, Gabriel Navarro is continuing his family’s legacy of entrepreneurship with MMG Equity Partners.  Now, as managing partner and CEO of MMG Equity Partners, a family-owned commercial real estate firm, Mr. Navarro has helped grow its portfolio to nearly 2 million square feet of retail space, much of it in shopping…

‘Indications Many More Will Follow’ After Amazon Leases Wynwood Offices

The developers building the Wynwood Plaza campus announced that Amazon has agreed to Wynwood’s largest office lease ever. The lease announcement comes a little over a year after Amazon founder Jeff Bezos announced he was moving to Miami. Amazon’s new lease is for 50,333 square feet of office space. “We are extremely excited to welcome Amazon to Wynwood Plaza…

39-Story ‘The Brickell Starlite’ Planned for 128 Southwest 7th Street in Miami

Florida YIMBY has an update on the 39-story venture proposed for the former site of the Starlite Motel in Miami-Dade County. The Brickell Starlite has received the greenlight from county officials, allowing developers to move forward with a 697,913-square-foot tower, which will feature 517 Class A housing units. Homes will range from studio to three-bedroom floorplans…

Related Companies To Partner On Citadel HQ

Citadel has announced that it will partner with Related Companies on a tower it is building in Brickell, according to Bloomberg. According to plans filed last year, the 55-story tower would reach a supertall height of 1,046 feet above ground, or 1,049 feet above sea level. It would include mostly office, along with hotel and retail, and a public baywalk. Foster + Partners is the architect.

Ken Griffin taps Related Cos. to co-develop Citadel’s new $1B-plus Miami HQ

Ken Griffin is bringing in the heavy guns, partnering with Related Companies to build Citadel’s new $1 billion-plus Miami headquarters on the bay. Spokespersons for both firms confirmed to The Real Deal that New York-based Related, led by CEO Jeff Blau and President Bruce Beal Jr., will co-develop the planned 54-story mixed-use tower on a bayfront site at 1201 Brickell Bay Drive.

One Brickell City Centre Site Listed For Sale

Swire Properties has hired a broker to sell the One Brickell City Centre site, according to Bloomberg. Swire president Henry Bott told the news agency that preleasing had not materialized for the massive office tower in the way that had been hoped. One Brickell City Centre had been planed to rise 68 stories, or 977 feet, putting it just below supertall height.

Swire nixes plan for office supertall in Brickell, citing “challenging” market and slow preleasing

Swire nixed its plan for an office supertall in Brickell, amid questions over the long-term viability of South Florida’s office market. The real estate arm of the Hong Kong-based firm won’t develop the roughly 1,000-foot-tall One Brickell City Centre, instead hiring CBRE to put the site at 700 Brickell Avenue and 799 Brickell Plaza in Miami on the market, Bloomberg reported.

400+ Residential Units Planned On Alton Road In South Beach

There are at least 400 residential units planned in four developments on Alton Road in South Beach, according to the SFBJ. The developments would be built under Florida’s Live Local Act, the report said. The buildings would rise 31, 27, 18 and 16 stories in height. They would each include parking, with a combined 364 spaces. There would also be a small amount…

“Supply overhang”: After record South Florida apartment completions, lease-ups slow, concessions ramp up

At the 293-unit Elevate in Dania Beach, about 100 apartments remain vacant six months after the project was completed. To entice renters, the property manager is offering two and a half months of free rent and up to a $500 move-in credit, the property’s website shows. “We are getting some of those extra leases because of some of the extra concessions,” said Dan Kodsi…

Wynwood’s Joule House Pre-Leasing 308 Apartments, Opening In Spring

Pre-leasing is now underway for 308 luxury apartment homes at Wynwood’s Joule House. Opening of the multifamily development is scheduled for spring 2025, the developer said last week. The 8-story building is being developed by Fisher Brothers, a fourth-generation real estate company that owns, manages and operates unique spaces across the country. Apartments range…

Pre-Leasing Commences and Murals Revealed at Joule House in Wynwood

Pre-leasing has officially commenced for Joule House, an eight-story, mixed-use residential development at 2200 NW 1st Avenue in Wynwood. Developed by Fisher Brothers, the project will feature 308 residences designed to reflect the energy and creativity of Miami’s most eclectic neighborhood. First move-ins are expected by Spring 2025….

Miami-Based Developer Proposes ‘Azul at Blue Lagoon’ for 1200 NW 57th Avenue in Miami

Miami-based Keystone Holdings Group wants to move forward with a workforce housing development just blocks away from Miami International Airport (MIA). Under the developer’s current proposal, Azul at Blue Lagoon would comprise 284 apartments in a 16-story building, with at least 114 workforce housing units. According to Floridian Development…

Former El Portal Trailer Park Site Sold to WeWork Founder’s Miami Company for $70.5M

Back in 2015, residents of the Little Farm Trailer Park in El Portal learned that their tight-knit community had been sold from beneath them. Owners of the park swiftly ousted residents from the 16-acre low-income community situated just off Biscayne Boulevard, leaving many of them homeless. The owners demolished the park soon after. It was one of Miami’s most sweeping…

Keystone proposes 284-unit Live Local Act project near MIA, amid flurry of applications under affordable housing law

A developer proposes a 284-unit Live Local Act project near Miami International Airport, marking a continued flurry of applications under the state’s affordable housing law. Miami-based Keystone Holdings Group proposes the 16-story Azul at Blue Lagoon building at 1200 Northwest 57th Avenue in unincorporated Miami-Dade County, according to Keystone’s application…

The Perigon Miami Beach Secures $390M Financing as Construction Advances

Following the commencement of construction this past spring, The Perigon Miami Beach, a joint venture between Mast Capital and an affiliate of Starwood Capital Group, has announced the successful closing of $390 million in construction financing. This significant milestone marks a pivotal step forward in delivering what is set to become an architectural landmark…

TransMontaigne under contract to sell Fisher Island terminal and fuel depot for $180M

TransMontaigne Partners is under contract to sell a potential Fisher Island development site for $180 million, but the mystery buyer will have to deal with environmental cleanup. The Denver-based energy and fossil fuels storage company entered into a sales agreement for its 9.6-acre fuel depot at 1 Fisher Island Drive, a press release states. TransMontaigne, led by CEO Randy Maffett…

Related Group Seeks Expansion of Affordable Housing Development at 800 NW 13th Avenue in Little Havana

The affordable housing branch of the Related Group hopes to move forward with an expansion of a 1970s multi-family development in Miami-Dade County. The developer has filed a pre-application seeking approval for six buildings offering residences, commercial space, and parking. The proposal concerns the Haley Sofge Towers, a public housing site in Little Havana.

Supersized: Pérez family’s Related proposes 1K-plus-unit Live Local Act expansion of Little Havana public housing complex

The Pérez family’s Related Group wants to supersize a Little Havana public housing complex with a 1,038-unit Live Local Act development, as the firm ramps up its pipeline under the state’s affordable housing law. Related Urban Development Group, the affordable housing arm of Coconut Grove-based Related, wants to build a pair of 21-story towers and a 12-story building…

Related Turns To Live Local To Boost Size Of Little Havana Apartment Project

Related Group’s affordable housing arm has proposed an expansion of more than 1,000 units at the Haley Sofge Towers in Miami’s Little Havana neighborhood using Florida’s Live Local Act. Miami-based Related Urban Development Group is seeking to maximize the potential of an existing 22-acre site with an additional 1,038 apartment units, more than 22K SF…

South Florida office vacancies and asking rents hold steady in fourth quarter, despite some foreclosures and discounted deals

Outside Miami’s Brickell neighborhood and downtown West Palm Beach, office landlords in South Florida faced troubling trends in the fourth quarter of last year. Older office buildings sold at discounts from previous sale prices, while some property owners faced foreclosure. While average asking rents and vacancy rates in Miami-Dade, Broward…

Château, Fortune score site plan changes for St. Regis Sunny Isles

Château Group and Fortune International Group secured changes to their site plan for St. Regis Residences, Sunny Isles Beach. Sunny Isles commissioners last week approved the tweaks, which reduce the density and increase the floor area ratio, or overall project size, to allow for fewer but larger condos. Manuel Grosskopf, CEO of Hallandale Beach-based Château…

Focus, Group Fox Receive Site Plan Approval for 39-Story Brickell Starlite Multifamily Tower in Brickell Financial District

Focus and Group Fox have received site plan approval for Brickell Starlite, a 39-story multifamily tower located in Miami’s Brickell financial district. Focus is a development and construction firm, and Group Fox is a property asset management firm, and both companies are headquartered in Chicago. Set for completion in 2028, Brickell Starlite will comprise 517 apartments…

Monceau ramps up Live Local Act pipeline with proposals for 120-unit project in Naranja, 252-unit building in Goulds

The Haccoun family’s Monceau Real Estate proposes a 120-unit apartment project in Naranja and a 252-unit development in Goulds, as the firm ramps up its Live Local Act pipeline in south Miami-Dade County. Bay Harbor Islands-based Monceau wants to build a four-story building on a 2.9-acre site at 26710 Southwest 144th Avenue and an adjacent lot in Naranja…

Miami Beach’s The Raleigh, A Rosewood Hotel & Residences, Announces Residential Construction Milestones

SHVO has announced key construction milestones and the general contractor selection for The Raleigh, an ultra-luxury development in Miami Beach. Situated at 1775 Collins Avenue, the three-acre estate will include a 17-story residential tower designed by Peter Marino, a 60-room Rosewood hotel integrated within the historic Raleigh, Richmond, and South Seas Art Deco…

With Clock Ticking, Shvo Looks To Recapitalize Miami Beach Redevelopment

Shvo is attempting to push forward on its redevelopment of The Raleigh hotel in Miami Beach. The developer announced a new future for the historic property in 2022, partnering with luxury hotel brand Rosewood Hotels & Resorts and renowned architect Peter Marino. However, two years later, speculation over the project’s progress swirled as several of the company’s…

Multifamily, luxury homebuilding headed for a slowdown in 2025: CCIM panel

South Florida can expect a slowdown in multifamily and luxury home development in the year ahead, according to a panel of builders. Last week, The Calta Group President Gaetano Caltagirone, Prospera Real Estate Collective CEO Ellen Buckley and The Estate Companies principal Jeffrey Ardizon participated in the main discussion at the 2025 CCIM Miami…

Developer proposes 293 row houses in Naranja’s Mandarin Park project, as push into south Miami-Dade continues

MAS AJP proposes 293 row houses at the Mandarin Park mixed-use complex in Naranja, as developers continue to target south Miami-Dade County with new project plans. The Coral Gables-based firm wants to build a three-story row house complex with 132 homes and a separate two-story row house complex with 161 homes on a 27-acre site on the northeast corner…

TA Realty buys Pembroke Pines apartment complex for $118M, amid uptick in South Florida multifamily sales

TA Realty bought a 300-unit apartment complex in Pembroke Pines for $118 million, as South Florida experiences an uptick in multifamily investment sales. The Boston-based firm bought the Bell Pembroke Pines complex at 16700 Sheridan Street from Greensboro, North Carolina-based Bell Partners, according to records and real estate database Vizzda.

IMC Equity advances mixed-use project with 233 apartments at Lauderhill Mall

IMC Equity Group advanced plans to develop a three-building, mid-rise complex with 233 apartments on the south side of the Lauderhill Mall. IMC Equity, led by President and CEO Yoram Izhak, successfully proposed a special-use exception to the mall’s commercial zoning designation to allow multifamily residential development on the south side of the mall.

Refined Design Unveiled for 3000 Waterside in Fort Lauderdale

Claridge Homes has revealed a reimagined design for 3000 Waterside, an 18-story waterfront tower along the Intracoastal Waterway in Fort Lauderdale. Planned at 3000 East Oakland Park Boulevard, the project will introduce 129 luxury residences with expansive terraces and panoramic views of the Intracoastal, Atlantic Ocean, and Fort Lauderdale skyline…

Kite Realty expands South Florida retail portfolio with $68M West Palm Beach Publix-anchored purchase

Kite Realty Group is the latest retail landlord hungry for a Publix-anchored shopping center, buying a West Palm Beach site for $68 million. An affiliate of Indianapolis-based Kite, led by CEO John Kite, acquired Village Commons Shopping Center at 831 Village Boulevard, records and real estate database Vizzda show. The deal breaks down to $394 a square foot…

Regulatory Developments Related to Managing the Financial Risks of Climate Change – Q4 2024

IntroductionRegulatory OverviewNew Requirements and Resources for Addressing Physical Risks to BuildingsAn Insurance Industry in the SpotlightContinued Gradual Progress on Integration of Climate Risk into Regulatory SupervisionGlobal Progress Toward Consistent Climate Risk Disclosure Introduction Despite the change in 2025 to a U.S. administration less focused…

Rising in Popularity: A Commercial Property Assessed Clean Energy (C-PACE) Primer

The average year over year growth of Commercial Property Assessed Clean Energy (C-PACE) loan volume over the past five years has been 50%. This alternative financing mechanism gained popularity during COVID and the following two years of high interest rates, when developers sought alternative source of capital. The Commercial Real Estate Finance Council…

The Future Is Mixed Use: How Principles of Mixed Use Design Will Restore Our Communities

The real estate industry is in a time of great uncertainty with volatile inflation and interest rates, rising construction costs, major geopolitical events, and social and economic futures that feel unpredictable. Similar to how the past several years created opportunities to fundamentally rethink how we live, work, and interact with our communities and the built environment…

Apartment Occupancy Nationally Returns to Historically Normal Levels at End of 2024

Despite suffering a dip recently, apartment occupancy ended 2024 closer to historically normal levels. The U.S. apartment market delivered a record volume of apartment supply in 2024. This influx of deliveries pushed occupancy down to a recent low of 94.1% in early 2024. However, demand also rebounded significantly during the year, and caught up to record supply…

Moody’s Update: Population Shifts Shape Housing Demand

In 2024, the multifamily housing market experienced substantial inventory growth, adding nearly 300,000 units in 79 major metros tracked by Moody’s, representing one of the highest construction booms on record. This expansion led to slight imbalance between supply and demand, raising the national vacancy rate by 10 basis points each quarter throughout the second…

Small Bays Warehouses Are Becoming Big-Time Targets

Small bay warehouses are often viewed as one of the less important segments of industrial real estate. But that view is changing as demand for small space storage remains high while supply is limited and the high cost of replacement keeps rising, according to Alex Redfearn, CEO of Redfearn Capital, a private equity CRE firm in Delray Beach, FL. What is a small bay?

Viceroy Residences Aventura Announced for 19790 W Dixie Highway

Viceroy Residences Aventura, a 274-unit branded residential development, has been announced as the first of its kind in Aventura. Developed by Related Group and BH Group in partnership with Viceroy, the project is designed by Arquitectonica with interiors by DesignAgency. Sales, exclusively represented by Cervera Real Estate, are set to launch later this month.

Related, BH launch sales for Viceroy Residences Aventura

Frequent development partners Related Group and BH Group are launching sales for Viceroy Residences Aventura, one of the city’s first planned condo towers in years. Related, led by Jorge Pérez and his sons Nick and Jon Paul, and Isaac and Liat Toledano’s BH are planning the 28-story, 274-unit tower for the site at 2999 Northeast 191st Street, according to a press release.

Trump Gets Approval For $3B Project In Doral

The Trump Organization has won approval for a $3b expansion of the resort they own in Doral, according to Bloomberg. The project will include five condo towers rising 20 stories each. It would have 1,498 residential units along with 141,694 square feet of commercial space and 3,522 parking spaces.  In this post find a rendering as well as a map of the location of the proposed development.

Trump Just Got Final City Approval for His $3 Billion Doral Condo Project

City officials have officially greenlit president-elect Donald Trump’s luxury condo project at Trump National Doral. In a 4-0 vote on Wednesday, the Doral City Council approved the Trump Organization’s plans to build five 20-story condo towers at the Trump National Doral resort, a sprawling 600-acre Miami area property that sits just around the corner from downtown…

Trump scores final approval for 1,500 condos at Trump National Doral

Doral City Council members voted unanimously in favor of the Trump Organization’s plan to develop up to 1,500 luxury condos on the Trump National Doral Miami property. The council passed a site plan, rezoning and development agreement for the phased project on Wednesday evening. The second reading vote came five months after the council granted initial approval.

Mystery logistics firm adding 525 jobs in line for county cash

An unidentified transportation and logistics company whose description matches Ryder Systems Inc. is poised to get $7.5 million in incentives to create a $450 million headquarters in unincorporated Miami-Dade County and add 525 more workers over seven years. The company already employs 1,100 in Miami-Dade, according to the application submitted by the Beacon…

Vertical Developments launches Fendi Casa-branded Aventura condo project

Vertical Developments is launching a Fendi Casa-branded luxury waterfront condo project in Aventura. The developer, led by partner and CEO Fernando de Nuñez y Lugones, is planning the 16-story, 22-unit Avenia Interiors by Fendi Casa project for 20605 Northeast 34th Avenue, according to a press release. The announcement follows Vertical’s sales launches…

Miami-Dade pays $17M for industrial sites to use as staging for MIA improvements, expansion

Miami-Dade County bought a 3.4-acre industrial site for $17 million that it plans to use as staging for improvements and expansion of the nearby international airport. The county purchased the three lots at 3901 and 3975 Northwest 25th Street, as well as 3900 Northwest 26th Street in unincorporated Miami-Dade, from San Francisco-based Prologis, according to records and real estate…

Miami Beach looks to diversify as a business hub

Miami Beach propels its economy as it continues to provide incentives for businesses, welcome high-level events to the city and maintain a safe environment for both visitors and residents. “One of our goals is to diversify our economy,” said Mayor Steven Meiner, “and there’s been a lot of interest from the tech and finance industries to start up here, relocate here in Miami Beach…

Miami’s Industrial Property Sector Shows Resilience Amid Market Changes

Sometimes the obvious fundamentals don’t always tell the story. For example, JLL’s fourth quarter market report on Miami Dade County analyzing the area’s industrial sector showed that net absorption turned negative at -483,906 square feet for the last three months of 2024. Add that to the vacancy rate ticking up 110 basis points to five percent and deliveries totaling over seven…

Adam Neumann’s Flow lands El Portal dev site with $71M winning auction offer

Adam Neumann’s Flow won an El Portal development site with a $70.5 million offer that beat out Melo Group, The Real Deal has learned. Miami-Dade Circuit Court Judge Thomas Rebull on Tuesday approved the sale of a 16-acre former trailer park at 8500 Biscayne Boulevard to an affiliate of Miami-based Flow. The expansive property landed in court receivership as a result…

Robert Rivani’s Black Lion slims portfolio, sells Catch restaurant for $28M

Robert Rivani’s Black Lion sold one of its signature commercial condo units, a building leased to Catch restaurant in Miami Beach’s South of Fifth neighborhood, for $28 million. The deal marks a nearly $17 million gain from its purchase price two years ago when Miami-based Black Lion paid $11.5 million for the two-story building at 200 South Pointe Drive, It is part of the Continuum…

Mast Capital, Starwood Receive $390M Construction Loan for Residential Project The Perigon Miami Beach

A joint venture between Mast Capital and a controlled affiliate of Starwood Capital Group has secured $390 million in construction financing for The Perigon Miami Beach, a 73-unit condominium development located at 5333 Collins Ave. in Miami Beach. Eldridge Real Estate Credit, a Greenwich, Conn.-based asset manager and holding company, provided the loan.

Mast, Starwood score $390M construction loan for Miami Beach condo project

Mast Capital and Starwood Capital Group secured construction financing for their oceanfront luxury condo project in Miami Beach. The joint venture closed on a $390 million loan from Eldridge Real Estate Credit for the Perigon, according to a press release. Eldridge Real Estate Credit is Cain International’s real estate credit arm that’s merging under billionaire Todd Boehly’s…

New Renderings Unveil Amenities for 57-Story Edge House Miami in Edgewater

Edge House Miami, a 57-story condominium developed by Peru-based Grupo T&C, has revealed new renderings highlighting its luxury amenities and shared spaces. Designed by Kobi Karp, the project is located at 1825 NE 4th Avenue in Miami’s Edgewater neighborhood and introduces a fresh concept of home-sharing in one of the city’s most desirable locales.

Neology Development Receives $84.5M Loan for Julia Apartments in Miami

Neology Development Group has received an $84.5 million loan for The Julia Residences, a 14-story apartment tower that recently delivered in Miami’s Allapattah neighborhood. Affiliates of Apollo provided the permanent loan. The borrower obtained its TCO for the development last May and stabilized the community at 97 percent occupancy by October.

Developer Secures $84.5M Loan for The Julia Residences in Allapattah

Neology Development Group has closed an $84.5 million loan from affiliates of Apollo for The Julia Residences, a recently completed residential tower in Miami’s Allapattah neighborhood. The 14-story building, located at 1625 NW 20th Street, achieved a Temporary Certificate of Occupancy (TCO) in May 2024 and reached lease-up stabilization in just five months…

Lissette Calderon racks up another refi, scores $85M mortgage for Allapattah project

For the second time in less than a month, a Lissette Calderon Allapattah project scored a refinancing. An affiliate of New York-based Apollo Asset Management provided $84.5 million in financing to Calderon’s Coconut Grove-based Neology Development Group, a press release states. The new mortgage replaces a $78.2 million construction loan for The Julia Residences…

First & Fifth Tower Receives Unanimous Approval from Miami’s Urban Development Review Board

Oak Row Equities has secured unanimous approval from Miami’s Urban Development Review Board (UDRB) for First & Fifth, a luxury multifamily tower designed by ODP Architecture & Design. Set to rise at 49 NW 5th Street in Downtown Miami, the project will span over 700,000 square feet and include more than 500 residential units. Located directly across…

Second time’s a charm: Board approves Oak Row’s 526-unit rental tower near MiamiCentral, after previously slamming design

Oak Row Equities scored approval for a 526-unit apartment tower in downtown Miami, after failing last year to impress a city board with the building’s design. The Miami Urban Development Review Board voted in favor of the 45-story First & Fifth project with a five-story podium with retail and 135 parking spaces at 49 Northwest Fifth Street and 50 Northwest Sixth Street…

River Oaks Properties Acquires 200 South Pointe Drive in Miami Beach for $28,200,000

River Oaks Properties has completed the acquisition of 200 South Pointe Drive in Miami Beach for $28,200,000. Located in the most exclusive neighborhood of Miami Beach, the South of Fifth enclave is also home to world famous restaurant and hospitality venues including Carbone, Joe’s Stone Crab and the highly anticipated redevelopment of Nikki Beach.

‘Via Veneto’ to Start Construction This Spring at 915 Palermo Ave in Coral Gables

The Calta Group intends to start construction on a luxury townhome development this spring. The Coral Gables-based developer recently secured a $30 million construction loan for “Via Veneto”, which upon completion will offer 10 three-story residences. Each home will feature four bedrooms and span 5,500 square feet, with in-unit amenities featuring deep soaking tubs…

Pérez family’s Related proposes 398-unit Live Local Act redevelopment of Miami’s Claude Pepper public housing building

The Pérez family’s Related Group proposes a 398-unit Live Local Act project to take the place of the Claude Pepper age-restricted public housing building in Miami’s Health District. Related Urban Development Group, Related’s affordable housing arm, wants to build a 14-story building with all units at below-market rate rents at 750 Northwest 18th Terrace in Miami, according…

Codina lands $124M refi for Downtown Doral apartments, uses part of capital to buy out partner Invesco

Codina Partners scored a $124 million refinancing for a pair of Downtown Doral apartment towers, using part of the capital to buy out Invesco’s stake in one of the buildings. Coral Gables-based Codina… The entire loan package is for the 19-story, 231-unit Palma Tower One at 5250 Northwest 84th Avenue, as well as the 20-story, 228-unit…  at 5225 Northwest 85th Avenue in Doral.

$9.7M Sale of Doral Shops & Professional Center Arranged

Marcus & Millichap has arranged the $9.7 million sale of Doral Shops & Professional Center, a retail center located in the western Miami suburb of Doral. Scott Sandelin and Edward Romo of Marcus & Millichap represented the seller and procured the buyer in the deal. Situated at 3655 NW 107th Avenue, the multi-tenant property spans 15,314 square feet. Nine tenants are operating…

Okan Tower Construction Reaches 12th Floor in Downtown Miami

The 902-foot Okan Tower in Downtown Miami has reached a key construction milestone, with work progressing to the 12th floor following the completion of its expansive 290,000-square-foot parking podium. This 70-story supertall tower, designed by Behar Font & Partners, is set to become one of the tallest buildings in the region when it tops off. The mixed-use development…

Groundbreaking Ceremony Today for Flagler Villas, Offering Housing for Low-Income Seniors

The City of Miami and Related Urban, the affordable housing division of Related Group, are breaking ground today on Flagler Villas, a six-story affordable housing development for low-income seniors. Located at 5215 West Flagler Street, adjacent to Henry M. Flagler Elementary School, the project will deliver 60 one-bedroom apartments designated for residents earning at or below…

Downtown Miami Signature Bridge On Track For Completion In Late 2027

Florida’s Department of Transportation says it is still targeting a late 2027 completion for Downtown Miami’s Signature Bridge, according to Local10. The project cost is also still estimated at $840 million. The construction contract for the project initially began in October 2018, with a four-year deadline to the contractor for completion and a budget of $802 million.

Okan Tower Reaches 12th Floor, 60% Sold

Developer Okan Group says it has reached two milestones at the under-construction Okan Tower. Sales have surpassed the halfway mark and are now at 60%, and construction has advanced to the 12th floor following the completion of a massive 290,000-square-foot parking podium. “We are thrilled to see Okan Tower’s incredible momentum as it takes shape,” says developer…

Developer: Retail Shops At Newly Completed $400M Overtown Complex Packed

Retail shops at Overtown’s new $400M Block 55 complex are filled with customers, developer Michael Swerdlow told the SFBJ. The Target store that anchors the complex is “full” and “packed” with customers, he said, while the Aldi supermarket there is also “packed all the time.” The 1.5- million square foot Block 55 opened last year, with the retail space fully leased. It includes…

Former exec sues Alden affiliate over allegedly lowballing his stake in properties in South Florida, elsewhere

Investment firm Alden Global Capital’s real estate division allegedly tried to shortchange a former property manager and investor in his payout for South Florida hotels and warehouses, as well as a larger nationwide portfolio, according to a recently filed lawsuit. Joseph Miller, who managed the portfolio and held equity in it, sued Alden’s Stamford, Connecticut-based real estate…

Lease roundup: Pura Vida Miami opens new outposts, Big 4 ad agency moves to Coral Gables

Pura Vida Miami, the café known for its health-conscious menu that includes smoothies and açaí bowls, opened new outposts in Miami Beach and Fort Lauderdale. The restaurant leased 2,200 square feet at 1601 Collins Avenue, according to the tenant’s news release. The building is the Loews Miami Beach Hotel, which is owned by New York-based Loews Corporation.

Map: Here is Broward County’s condo development pipeline

South Florida’s condo developers want to build, baby, build — in Broward County. Long overshadowed by Miami-Dade and Palm Beach counties, its more expensive neighbors to the north and south, it seems Broward is getting its moment in the sun. In the wake of South Florida’s pandemic real estate boom, developers have snapped up project sites and are betting big…

Condra sues city of Hollywood over denial of Live Local project

The developer of a planned mixed-use project in Hollywood Beach is alleging the city illegally denied its Live Local Act application, according to a lawsuit filed this week. The complaint marks another example of local governments clashing with developers over the state’s new workforce housing legislation, signed into law by Gov. Ron DeSantis in 2023 and amended last year.

Billionaire Bill Malhotra’s Claridge Homes launches sales for luxury condos in Pompano Beach

Billionaire developer Bill Malhotra is launching sales for Ocean580, a luxury oceanfront condo project in Pompano Beach. Malhotra’s Ottawa, Ontario-based Claridge Homes is planning the 10-story, 17-unit development for the 0.9-acre site at 580 Briny Avenue, according to a press release. Malhotra, who has a net worth of $2 billion, according to Forbes, is also building 3000 Waterside…

Developer Alters Plans for Second Phase of Camino Square at 171 W Camino Real in Boca Raton

In August 2022, Florida YIMBY reported on Camino Square, a mixed-use venture in Boca Raton. Now, developer FCI Residential is moving forward with its second phase––but with different plans than what were initially approved. According to the South Florida Business Journal, the developer originally secured approval for 37,000 square feet of retail.

Nick of time: Penn-Florida files bankruptcy on Boca Raton Via Mizner apartments, dodging $145M UCC auction

An affiliate of Penn-Florida Companies filed bankruptcy on its 101 Via Mizner apartment building in Boca Raton, warding off a foreclosure auction over a $145 million loan. Via Mizner Owner I, the entity Penn-Florida uses for the 14-story, 366-unit building at 101 East Camino Real, is pursuing Chapter 11 reorganization. It listed $100 million to $500 million in assets and liabilities…

‘Boca Village’ Gets Clearances from City Officials, Slated for 680 W. Yamato Road

Boca Village, a mixed-use project offering both residences and retail, is one step closer to becoming a reality, thanks to the security of two ordinances and five resolutions. The Boca Raton Tribune notes that the approvals pertained to construction details and rezoning measures. Florida YIMBY covered Boca Village when it was initially proposed in December 2023.

Developers Seek Approval for ‘Alba Reserve’ at 4720 N Flagler Drive in West Palm Beach

Last November, Florida YIMBY reported on Alba Palm Beach, a 22-story condo slated for a spring 2026 completion. Now, we’ve learned that two developers want to proceed with another high-rise condo right next door. 4700 N. Flagler LLC, a partnership between BGI Cos. and Blue Road Group, hopes to get approval for Alba Reserve, a 31-story tower featuring 87 residences.

AEW scoops up 424-unit senior living complex in Wellington for $100M

AEW Capital Management bought a 424-unit senior living rental complex in Wellington for $100.1 million, marking this year’s first major commercial real estate deal in South Florida. The firm bought Wellington Bay at 2590 Wellington Bay Drive from Ares Management, according to records and real estate database Vizzda. The selling entity also ties to Tampa-based ZRS…

Video: Trepp’s Lonnie Hendry Provides Loan Delinquency Update & Forecast for 2025

In a recent episode of America’s Commercial Real Estate Show, the show host and guest Lonnie Hendry, Chief Product Officer at Trepp, delved into pressing topics shaping the commercial real estate (CRE) landscape. The discussion, centered around distressed properties, the state of debt markets, and office sector challenges, painted a comprehensive picture of current…

Capital Ideas: Trump’s Gift to the Office Market

It was raining executive orders on President Donald Trump’s first day in office. It remains to be seen just how much many of these—like exiting the Paris Agreement, freezing pending regulations and creating an agency to collect tariffs—will impact commercial real estate investment and finance. There is one directive from our returning leader, however, that should have…

Apartment Rent Growth Expectations at the Market Level for 2025

While apartment rent growth is expected to pick up in the coming year – while still trailing previous decade norms under the weight of new supply – market-level expectations vary based on many factors. Generally speaking, rent growth expectations in 2025 at a market-level can be split into a few categories. Markets Expected to Outpace the U.S. Average in 2025: 1. Markets…

Miami Marlins, Cordish Partner to Develop Miami Live! Entertainment Destination at loanDepot Park

Major League Baseball’s Miami Marlins have formed a partnership with The Cordish Companies to develop Miami Live! at loanDepot Park, the home ballpark of the Marlins. The entertainment destination in the city’s Little Havana neighborhood will feature indoor-outdoor dining and entertainment spaces aimed at elevating the fan experience, including year-round space activations.

‘Transformational’ Entertainment Development Planned At Marlins Stadium

The Miami Marlins have announced a partnership with The Cordish Companies to develop an entertainment district at their stadium. The new district will be known as Miami Live!, and will be similar to others developed by Cordish in Arlington, Texas and Kansas City. Miami Live! will include indoor and outdoor dining, entertainment, and gathering areas. It will be located…

56-Story Casa Bella More Than Halfway Up

The Casa Bella Residences by B&B Italia tower is now more than halfway up. Contractors were scheduled to pour the 30th floor of the building this week, according to a social media post by Director of Sales Olga Monson. The building’s parking garage is scheduled to be completed at the end of this month. Top off of the tower at 56 stories is scheduled for summer of this year.

526-Unit Tower Across From MiamiCentral Scheduled For UDRB Hearing

Downtown Miami’s First and Fifth tower is scheduled for a hearing today before Miami’s Urban Development Review Board. Plans had been submitted to the UDRB in November, but the application was withdrawn. First and Fifth is planned to rise 45 stories, 517 feet and include: 526 residential units 6,638 square feet of commercial 161 parking spaces ODP is the architect.

North Corridor Rail Service Pushed Back To 2037

Completion of the North Corridor has been pushed back, according to Miami Today. The North Corridor is a planned rail extension from the existing Metrorail to Broward County, with a stop at Hard Rock Stadium. It is part of Miami Dade’s SMART rapid transit plan. It would run 10 miles, with 8 stations. Completion is now projected for 2037, according to a presentation to the…

Pre-Application Filed For 398 Units In Rapid Transit Zone

Related Urban Development Group has filed plans for a housing development in the Rapid Transit System-Development Zone. The project name is listed as Claude Pepper in the filing. Units would be “fully affordable.” Conceptual plans show the project would include: 398 units 4,400 square foot community center 410 parking spaces CFE is the architect. The nearest Metrorail station…

Work Underway On Pedestrian Bridge At Entrance To South Beach

A developer mobilized yesterday to begin construction on a colorful pedestrian bridge at the entrance to South Beach, according to Local10. The bridge is being designed by French artist Daniel Buren, and is titled Walking In, Along and Under the Colors. Pedestrians will be able to cross from the South of Fifth baywalk to a recently completed park. The park and bridge are being built…

Apple’s ‘Most Sustainable Store’ Opening At Miami Worldcenter With Biophilic Garden

Apple has announced an opening date for a new store at Miami Worldcenter. The new Apple Store at Miami Worldcenter will open on January 24. It will be Apple’s “most sustainable store.” The store will include a biophilic garden using natural materials and a variety of plants. It will become the tenth Apple Store in Miami. Apple also reportedly signed a lease for around 45ksf..

Total Demolition Permit Submitted For Brickell Key Mandarin Site

A total demolition permit has been applied for at the Brickell Key site where The Residences at The Mandarin Oriental, Miami is planned. The permit was applied for on January 10 and is not yet in review. According to the filing, a total of 527,824 square feet will de demolished, at an estimated cost of $1,072,500. The BG Group is listed as the demolition contractor. The existing Mandarin…

62-Story Aria Reserve North Tower Making ‘Rapid Progress’

In Edgewater, the under-construction North Tower at Aria Reserve passed level 20 last week, according to developer Melo Group. Completion of the 383-unit South Tower at Aria Reserve is also expected soon. Aria Reserve will include two 62-story condo towers, said to be the tallest waterfront dual residential towers in the United States. A foundation pour for the South Tower…

City of Miami to Break Ground on Eight-Story Administration Building at Miami Freedom Park

The City of Miami is set to break ground this week on a new eight-story administration building within the Miami Freedom Park complex. The ceremony, scheduled for January 15 at 9:30 a.m. at 1802 NW 37th Avenue, will follow the State of the City Address delivered by Mayor Francis X. Suarez at the same location. The project will launch construction of the 382,592-square-foot…

Groundbreaking Scheduled For Miami Administration Building at Miami Freedom Park

The City of Miami will break ground next week on its new administration building at Miami Freedom Park. The City of Miami Administrative Building will rise 8 stories and span over 382,592 square feet. An attached parking garage will have space for up to 889 vehicles. Arquitectonica is the architect. Adler Development is the developer. Moss Construction…

Map: A look at CGI Merchant’s unraveling real estate investments amid mounting debt woes

Raoul Thomas is having a helluva year. Thomas’ Miami-based CGI Merchant Group is getting pummeled with foreclosure filings and reports of delinquent loan payments, putting nearly its entire portfolio amassed over two decades into debt trouble. It’s not the first tough time for CGI Merchant. The firm weathered the pandemic slowdown. But the current economic headwinds…

First & Fifth: 45-Story Mixed-Use Tower Submitted to UDRB for Approval in Downtown Miami

A 45-story mixed-use development, First & Fifth, has been submitted to Miami’s Urban Development Review Board (UDRB) for approval. Designed by ODP Architecture & Design and proposed by developer Oak Row Equities under the 49 NW 5TH STREET LLC, the 530-foot-tall tower is planned for 49 NW 5th Street and 50 NW 6th Street in Miami’s Overtown neighborhood.

Univista Insurance mogul Ivan Herrera launches commercial development family office

Insurance king Ivan Herrera is jumping into commercial real estate development after partially selling his Univista empire for $700 million, The Real Deal has learned. His new firm, Unicapital Asset Management Group, is developing a new office building near Doral, and is planning a multifamily project in Hialeah and mixed-use project in Allapattah, Jose Cueto, a Unicapital…

Developers’ Delicate Dance To Build High-Rises In Wynwood Without Ruining It

In Wynwood, walls are canvases, sidewalks are sketchbooks and street signs double as sticker galleries. The Miami neighborhood’s signature public art has made it a magnet for tourists and developers itching to get in on the action. Developers Hidrock Properties and Robert Finvarb Cos., for example, are moving forward on a 39-story apartment tower at 2534 N. Miami Ave.

Developers Propose 35-Unit Condo at 895 N.E. 131st Street in North Miami

Two developers hope to proceed with a condominium in Miami-Dade County. Our sources indicate that the 10-story venture (dubbed “Cocoanut Avenue”) would comprise close to 56,000 square feet of new construction, featuring 35 two-bedroom homes. Floorplans would span 850 to 1,116 square feet, and there would be 48 parking spots, averaging about 1.37 per unit.

Demolition Permit Issued For Wynwood Crossing Site at 2000 North Miami Avenue

The City of Miami has issued a total demolition permit for the site of 2000 Wynwood, paving the way for a new 12-story mixed-use development in the heart of Wynwood. The permit, approved on January 2 and issued on January 6, lists BG Group as the demolition contractor, with work estimated at $13,000. The permit was initially applied for in July 2023….

First Crane Installed At 427-Unit Excel Miami

Vertical construction is now underway at Excel Miami, which will have 427 apartments. Shawmut Design and Construction, a  $2 billion national construction management firm, said on December 10 that it had broken ground on the development. A groundbreaking ceremony was held December 9. At the time, Shawmut said a mat foundation pour would be completed in weeks…

Miami Office Leasing Slows Further, But Rents Keep On Rising

The average office rent in Miami is nearly 17% higher than it was a year ago, according to a fourth-quarter market report from Savills, a spike that is pushing more tenants out of prime markets in search of more affordable alternatives. Every major submarket in Miami experienced positive rent growth after remaining relatively stable at the end of 2023, according to…

Calta scores $30M construction loan for Coral Gables townhomes

The Calta Group scored a $30 million construction loan for its planned Via Veneto townhomes in Coral Gables. The Coral Gables-based developer, led by brothers Ignazio and Gaetano Caltagirone, secured financing for the 10-unit project from Banesco USA, according to a press release. Construction for Via Veneto, planned for the site at 915 and 920 Palermo Avenue…

Miami Beach Ordered To Fully Reopen Ocean Drive To Cars

A judge has ordered the City of Miami Beach to reinstate two-way car traffic on Ocean Drive, according to the Herald. The court order came after The Clevelander challenged the current one-way configuration in court, saying it couldn’t properly operate a business. Miami Beach initially closed the street to cars during the pandemic, and for the past three years has allowed only…

Big 4 Ad Agency Ditching Brickell For Coworking Space In Coral Gables

Global media and advertising conglomerate WPP has left Miami’s financial district behind, downsizing by more than two-thirds to new digs in Coral Gables. London-based WPP has vacated its 73K SF office space at Brickell Key Centre II and taken 25K SF with WeWork in Coral Gables. WPP subsidiary Hogarth Worldwide moved to the two-building complex on Brickell Key…

More trouble: Another lender accuses Shoma’s Masoud Shojaee of not repaying loan

For the second time in a one-month span, Shoma Group CEO Masoud Shojaee is being sued for allegedly welching on a mortgage debt. City National Bank of Florida filed a foreclosure complaint this week against Shojaee, as trustee for a trust in his name, and an entity he manages that owns a 12th floor condominium at Gables Club Tower at 60 Edgewater Drive in Coral Gables.

Industrial vacancies up across South Florida in the fourth quarter, as rents drop in Broward and Palm Beach counties

South Florida’s industrial market took a hit in the fourth quarter of last year, as vacancies rose across the tri-county region, and rents dropped in Broward and Palm Beach counties, according to a recently released report. Since the pandemic, industrial landlords have reaped the benefits of Florida’s population boom and the need for e-commerce distribution facilities.

Lease roundup: Attorney referral provider moving HQ to Coral Gables, La Mar by Gastón Acurio finds new Brickell home

An attorney referral service firm will move its headquarters to Coral Gables. The No-Fault Group, which connects people with legal and medical care following an accident, leased 21,800 square feet at 2990 Ponce de Leon Boulevard, according to the broker’s news release. Stephen Rutchik and Kevin Gonzalez of Colliers represented the landlord and the tenant.

Consultant alleges Michael Stern’s partner Gianluca Vacchi owes $1.7M in fees tied to condo developments

A Naples-based project consultant is accusing developer Michael Stern’s partner, Italian entrepreneur Gianluca Vacchi, of stiffing him out of $1.7 million in fees tied to his financial evaluations of three planned condo projects in Miami and Miami Beach. The developments represent part of a $4 billion pipeline. Genesis Project Management and Consulting, led by John Stamboulis…

Oasis Hallandale West Tower Tops Off At 275 Feet

The West Tower at Oasis Hallandale has topped off, and a second tower will soon break ground.. The 25-story West Tower topped off with 75% of units sold. A second condo tower is planned to break ground later this quarter. Sales recently launched for those units. Each tower will have 250 units, for a total of 500. The project has already delivered 60,000 square feet of retail…

Construction Tops Out on Oasis Hallandale’s West Tower in Hallandale Beach

Oasis Hallandale, a $370 million mixed-use development located at 1000 East Hallandale Beach Boulevard, has officially topped out its West Tower. This marks a significant milestone in the project’s construction, led by MGM Construction. With the West Tower now structurally complete and 75% of its residences sold, the development is gaining momentum as one…

Map: Here is Broward County’s condo development pipeline

South Florida’s condo developers want to build, baby, build –– in Broward County. Long overshadowed by Miami-Dade and Palm Beach counties, its more expensive neighbors to the north and south, it seems Broward is getting its moment in the sun. In the wake of South Florida’s pandemic real estate boom, developers have snapped up project sites and are betting big…

Developer Proposes What Could be Fort Lauderdale’s Tallest Building at 315 NE 3rd Street

100 Las Olas could be unseated as Fort Lauderdale’s tallest building. Arosa Development has proposed a mixed-use 54-story tower that would offer residences, commercial space, and parking. Here’s what’s in store. Our sources report that the venture would measure 600 above grade, occupying a 27,591-square-foot that currently serves as a parking lot located between…

54-Story, 600-Foot Tower Planned In Fort Lauderdale

Plans have been filed for what would be the tallest building in Fort Lauderdale. The tower is planned to rise 54 stories, or 600 feet above ground level, which is taller than any existing building in the city. The building is proposed to include: 607 residential units 3,727 square feet of commercial 659 parking spaces Units will range from in size from studios to 3-bedrooms.

Condo Owners Seeking $23M For Fort Lauderdale Building They Evacuated

Springbrook Gardens, a 77-year-old waterfront condominium complex in Fort Lauderdale, has been listed for sale just three months after residents were forced to evacuate when the building was deemed to be structurally unsafe. The condominium association has tapped Sam Gaita of The Corcoran Group and Donna Carbonara of Douglas Elliman to market their 28K SF site…

Developers add 17 condos to planned hotel on Las Olas in Fort Lauderdale

What began as a mid-size hotel development on East Las Olas Boulevard in Fort Lauderdale has morphed into plans for the Whitfield, a boutique hotel and condominium with penthouses priced at $15 million. After winning site plan approval for a 10-story hotel in 2021, Fort Lauderdale-based developers Steve Hudson and Charlie Ladd redesigned the project as a 12-story building…

Accesso Acquires Sunrise Office Asset

Sawgrass Lake Center went through cosmetic renovations in 2017. Image courtesy of CommercialEdge Accesso Partners has acquired Sawgrass Lake Center, a 240,000-square-foot office building in Sunrise, Fla., a Fort Lauderdale submarket. American Realty Advisors sold the asset, according to CommercialEdge information, in a deal arranged by CBRE. The property previously…

Office bargain: Foundry sells Sunrise building for $37M – 36% discount from purchase price seven years ago

Foundry Commercial sold an office building in Sunrise for $20.9 million less than it had paid seven years ago, as suburban properties continued to trade at a discount in South Florida. Accesso Partners bought the six-story Sawgrass Lake Center at 13450 West Sunrise Boulevard for $36.5 million from Orlando-based Foundry, according to records. The buyer took out a $21M…

Ocean580: 10-Story Beachfront Residences Planned for 580 Briny Avenue in Pompano Beach

Canadian developer Claridge Homes has unveiled plans for Ocean580, a 10-story luxury beachfront development in the heart of Pompano Beach. Located at 580 Briny Avenue, the boutique project will feature 17 exclusive residences offering direct oceanfront living. Designed by FSMY Architects with interiors by Manhas Design, the development is expected to be delivered in winter 2027…

BDT & MSD proposes 60-unit project at Boca Raton Resort, amid luxury condo frenzy in South Florida

BDT & MSD Partners proposes a 60-unit condominium at Boca Raton Resort & Club, amid a development frenzy for luxury projects in South Florida. The merchant bank, which has offices in New York and Chicago, wants to build an eight-story building with a 142-space underground garage on a nearly 4-acre site at the resort at 501 East Camino Real, according to an application…

13th Floor nabs board approval for 340 rentals at Boca Raton Tri-Rail station, amid South Florida multifamily construction frenzy

13th Floor Investments landed board approval for a 340-unit apartment project at the Boca Raton Tri-Rail station. 13th Floor, led by managing principal Arnaud Karsenti, plans an eight-story building on an 8.2-acre site at 680 West Yamato Road, according to an application filed to the city last week. The development, called Boca Village, will include 34 affordably…

Insurer lands approval for 287 rentals in Boca Raton, after year of record multifamily construction

A developer landed preliminary approval for a 287-unit apartment project at the Park at Broken Sound in Boca Raton, following a year of record apartment construction in South Florida. Mutual of America Life Insurance Company plans a seven-story building with 2,000 square feet of retail at 1150 Northwest Broken Sound Parkway, according to an application submitted to the city last…

The Ritz-Carlton Residences Tops Off in Palm Beach Gardens, Completion Expected in Early 2026

Palm Beach Gardens developer, Catalfumo Companies led by CEO Daniel Catalfumo, announced The Ritz-Carlton Residences, Palm Beach Gardens has reached its summit with construction ahead of schedule. Located on the last 14 contiguous acres of waterfront in Palm Beach, the development is 40 percent sold and is slated for completion in early 2026. This marks the official top…

Industrial Tops Commercial Real Estate Investment Picks For 2025, Expert Says

Many CRE firms are hopeful that 2025 will be the year that just about everything across the board booms after dozens of months of turbulence. For his part, Michael Thom, attorney in the business and finance department at Obermayer, has zeroed in specifically on the industrial sector. Industrial has many attributes that make it an attractive investment. One of them…

The Fed’s Beige Book: Southeast Economy Holds Steady

The new Beige Book from the Federal Reserve Bank of Atlanta describes mostly more of the same in the southeastern economy: modest growth, steady employment, and mixed pricing power for businesses. The Beige Book is a compilation of anecdotal feedback from business contacts across the six states of the Sixth Federal Reserve District: Alabama, Florida, Georgia, Louisiana…

Climate Risk Disclosure Ramps Up Gradually

This year is a key milestone for several climate risk disclosure laws.  Companies subject to the EU Corporate Sustainability Reporting Directive (CSRD) must begin reporting this year based on 2024 data, while those covered by Australia’s climate risk disclosure mandate for large companies must begin reporting in 2026, based on 2025 data.  In the US, many CRE companies…

Distressed Debt is Consistently Growing

Distressed office loans have been a common theme of CRE over the last year. Slowly but steadily, almost every sector of commercial real estate has growing loan distress. Self storage and industrial show blips of distress, but look like nothing when compared to multifamily and office. Construction debt is typically based on SOFR (Secured Overnight Financing Rate) rates which…

Manufacturing Reshoring Is Breathing New Life Into U.S. Industrial Markets

A manufacturing comeback is underway in the U.S. Once heavily outsourced to countries with lower labor costs; manufacturing is returning (or “reshoring”) to America as companies seek to minimize risk, ensure quality, and meet rising consumer and regulatory expectations for sustainability. Several factors are converging to encourage U.S. companies to reevaluate their production…

2025 Expectations for the U.S. Apartment Market

Demand for apartments in 2025 is expected to remain solid – if not excellent – based on 2024 readings. Continued job growth, strong wage growth, improving affordability, improved consumer sentiment, near-record resident retention and fewer move-outs to the single-family for-purchase market colored the 2024 market landscape. These things appear likely to persist well into 2025.

Miami Investors Buy Houston Office Tower

A Miami-based investment firm has acquired Lockton Place, a 186,747-SF, Class A office building in the Westchase submarket in west Houston, JLL Capital Markets reported. JLL represented the seller, Triten Real Estate Partners and Affinius Capital, in the sale to Galium Capital, a Miami-based firm led by Jacques Bessoudo and Iser Rabinovitz.

Completed in 2017, the eight-story Lockton Place is over 96% leased to a diverse tenant roster anchored by Lockton Companies, the world’s largest privately held insurance brokerage firm.

Developers Under Contract for $520M Waterfront Assemblage at 1001 and 1111 Brickell Bay Drive in Brickell

Oak Row Equities and Mariposa Real Estate have reached an agreement to acquire Aimco’s 4.25-acre waterfront property at 1001 and 1111 Brickell Bay Drive for $520 million. This transaction, expected to close in the fourth quarter of 2025, will represent the largest single land acquisition in South Florida to date. The site, zoned for over three million square feet of development…

Oak Row buying Aimco’s bayfront Brickell assemblage for $520M

Oak Row Equities is in line for one of South Florida’s biggest real estate deals. The firm is in contract to purchase a 4.25-acre bayfront assemblage in Miami’s Brickell Financial District for $520 million. Aimco, a Denver-based real estate investment trust, is selling the 32-story Brickell Bay Office Tower at 1001 Brickell Bay Drive and the adjacent 31-story, 357-unit Yacht Club…

Oak Row Equities To Pay Record $520M For Miami Waterfront Property

Oak Row Equities is about to pay $520M for a waterfront land assemblage in Miami’s Brickell neighborhood, the highest price ever paid for land in the city. Oak Row is under contract to buy 4.25 acres at 1001 and 1111 Brickell Bay Drive, according to a U.S. Securities and Exchange Commission filing by the seller, Apartment Investment & Management Co.

Miami developers start new year with record $520 million deal for rare property

Developers kicked off 2025 by announcing the priciest commercial property deal on record in Miami’s only neighborhood that allows the construction of supertall towers, the latest sign of a development surge across the city’s financial district. Oak Row Equities, a private equity and real estate development firm based in New York and Miami, and Mariposa Real Estate…apartment complex built in 1998.

‘Landmark Development That Will Redefine Miami’s Skyline’ Planned at $520M Brickell Site

Developer Oak Row Equities and Mariposa Real Estate announced they have entered into an agreement to buy a property in Brickell, with plans for a major development. It will be the largest land acquisition in Miami’s history, at $520 million, when the deal closes. Ultra-luxury condominiums are planned. In a statement, Oak Row said it envisions…

2025 Brings a Major Milestone and Closure for Mandarin Oriental on Brickell Key

Twenty-twenty-five will be a bittersweet year for Mandarin Oriental, Miami. On one hand, the property is celebrating a milestone as it marks 25 years in operation. However, the hotel has also announced it will officially close on May 31 to make way for a new chapter. The space will remain shuttered until 2030, making way for an entirely new Mandarin Oriental, Miami property…

45-Story Viceroy Tops Off In Brickell

Another tower has topped off in Brickell. The 45-story Viceroy Brickell was actually announced as being topped off in late October. Now, the upper roof structure of the tower is taking shape, a new photo by Due Italiani a Miami shows. Viceroy Brickell will include 420 residential condos upon completion, along with amenities. Baccarat Residences, a 75-story tower…

Demolition Prep Underway At One Brickell City Centre for 977′ Office Development

Demolition preparation work is underway at a building on the One Brickell City Centre site, according to photos by Phillip Pessar. Records show that a demolition permit is still in review. This would be the last remaining building needed to clear the site. Demolition of another building on the site has already been completed. One Brickell City Centre is planned to have around 1.5M…

Plans Announced for $500 Million Mixed-Use Tower, The Helm, in Miami Design District

Helm Equities has unveiled plans for The Helm, a $500 million mixed-use tower slated to rise in Miami’s Design District. The announcement marks a significant evolution from an earlier proposal in 2022, which envisioned a much smaller office building for the same property. The new project will include residential units alongside commercial and retail spaces…

Terreno drops $196M for warehouses in Doral, marking one of last year’s top industrial deals

Terreno Realty bought three warehouses in Doral for $195.6 million, marking one of last year’s top industrial deals. The Bellevue, Washington-based firm bought the buildings that span 495,000 square feet on a 23.4-acre site at 7725-7785 Northwest 41st Street, according to a Terreno news release. Santa Monica, California-based GLP Capital Partners is the seller…

Commuter rail plan deletes station on Miami Dade College land

The cost of long-awaited North Corridor commuter rail to Hard Rock Stadium has risen again, its use has been put off again, and it no longer will have a station promised on Miami Dade College’s North Campus, the Citizens’ Independent Transportation Trust has learned. Furthermore, every earlier study of the system is being repeated. So now rail completion is estimated…

Valoro Capital buys Miami Beach office building for $23M, a slight discount from its price a decade ago

Valoro Capital bought an office building in Miami Beach for $22.7 million, marking a slight discount off its purchase price a decade ago. The deal comes at a contradictory time… as landlords feel the sting of elevated interest rates and higher expenses. Brickell-based Valoro Capital purchased the property at 1680 Meridian Avenue, according to the buyer’s news release.

Miami Beach set to take big step to join Blue Zones

Miami Beach is preparing to embark on a journey to improve the community’s wellbeing and become a Blue Zones city as it is set to launch Blue Zones Ignite, an in-depth readiness and feasibility assessment, this February. The Blue Zones Project website says it seeks “to improve the overall well-being of an entire community’s residents. Well-being is a measure of a person’s…

Miami Center for Mental Health faces pivotal February vote

The long-awaited Miami Center for Mental Health and Recovery is one step closer to opening its doors as a key vote scheduled Feb. 4 by county commissioners on its operating plan, contracts and budget for the next five years marks a milestone for the first-of-its-kind center that targets the intersection of mental health and the cycle between homelessness and incarceration.

HCA Florida Aventura Hospital, HCA Florida Mercy Hospital reveal construction projects, upgrades

HCA Florida Aventura Hospital and HCA Florida Mercy Hospital are in the midst of multiple upgrades and new construction. “We finished one of our brand new cath labs,” said Carolyn Hunter, chief operating officer of the Aventura hospital, “and we have one more that’s set to open in the spring of 2025. We also have finished renovation of our gastroenterology suite…

Baron buys out MG Developer’s interest in two South Florida projects

Baron Property Group has taken full control of two apartment projects in Hialeah and near Coral Gables after buying out its partner, MG Developer. “We made a deal that made sense for the both of us,” Matthew Baron, president of his eponymous New York-based firm, told The Real Deal. “Both sides were happy with it. And the buyout doesn’t change the timeline for either project.”

Alirio Torrealba: Shifts from auto dealership career to drive MG Developer

Born in Caracas, Alirio Torrealba began his professional journey in the automotive industry, representing global brands like Ford and Kia with a career spanning over 25 years. But his entrepreneurial spirit eventually led him to a new chapter in Miami, where he transitioned into real estate development as the CEO of MG Developer.  Founded in 2014 and headquartered…

Scroll Through Google Streetviews of Miami’s Skyline, as Viewed from the Key Biscayne Bridge, for the Past 17 Years

Anyone that has had the pleasure of driving across the bridge to Key Biscayne, or even better, to walk, bike, or run on it, has to have noticed what a great view one gets of Miami’s rapidly growing skyline, the 3rd most dense in North America. What one can lose track of is just how much that skyline view has changed over time. SCROLL DOWN to check out these Google…

Demolition Permit Issued for Tower 36 Site at 3601 Biscayne Boulevard in Edgewater

The Tower 36 site at 3601 Biscayne Boulevard has received its demolition permit, marking a significant step toward the next stage of development. The permit, issued on December 18, lists Service Stations Maintenance, Inc. as the contractor for the demolition, with the work valued at $38,000. The site spans 1.6 acres and includes three parcels at 3601 Biscayne Boulevard…

At-Rate Apartments Proposed for 19121 NE 25th Avenue in Ojus

Developers have filed a pre-application for a project our sources call “the West Aventura 74”, a residential development in Ojus. The project would comprise about 105,000 square feet of new construction, featuring 74 apartments in eight stories. The studio to three-bedroom homes would span 543 to 1,401 square feet each. They would be marketed as at-rate homes…

36-Story The Helm Planned In The Design District

Plans have been announced for a $500m mixed-use tower in the Design District called The Helm A much shorter office tower had been announced as being planned for the same property in 2022. Now, the building will be much taller and include residential units, thanks to Florida’s new Live Local Act. The Helm is planned to rise 36 stories and include: 162 branded residences…

First Glass Installed At 100-Story Waldorf Astoria Hotel & Residences

The Waldorf Astoria Hotel and Residences Miami has reached another construction milestone. The building had its first glass installed late last month. Construction appears to be advancing much more quickly now that the building is out of the ground, after a June foundation pour. The shell of the building also surpassed a neighboring building in height last month.

Miami’s Largest Office Tower Has A Giant New Rooftop Butterfly Mural

A giant butterfly mural has been completed on a rooftop at the Southeast Financial Center in downtown Miami. The mural was done freehand by Mantra, a French artist. It showcases 18 butterflies that can be found in downtown Miami and around Florida. It took 400 hours and 200 gallons of paint over a six week period to complete, according to Designboom.

520-Room Airport Westin Hotel Connected To Terminal Set To Break Ground at MIA

Construction is about to begin on new Westin hotel directly connected to the terminals at Miami International Airport, according to CBS Miami. Groundbreaking is planned for January 2025, with completion in December 2027. Passengers will be able to walk from MIA’s terminals to the new hotel via a pedestrian footbridge. The hotel will have 520 guest rooms.

Kapstones expands into South Florida, buys Radisson-branded hotel for $22M

Kapstones is planting its flag in Miami by acquiring a Radisson-branded hotel for $22 million. An affiliate of Sarasota-based Kapstones, led by CEO Marc Gagliardi, bought the Radisson Red Miami Airport at 3401 Northwest 25th Street, records and real estate database Vizzda show. The buyer also took over a $15.3 million Centennial Bank loan secured by the six-story building…

Publix’s buying spree continues with $40M North Miami acquisition

Publix rang up another South Florida shopping center deal, paying $40 million for a North Miami site anchored by one of its stores. The The latest purchase is a 61,858-square-foot Publix store and pharmacy, a 28,330-square-foot strip mall, a four-story office building and two outparcels at 12700, 12800, 12864 and 13000 Biscayne Boulevard, records show.

Monceau proposes 90-unit workforce building in Goulds, as developers seize on demand for below-market rentals

The Haccoun family’s firm proposes a 90-unit workforce rental building in Goulds, as developers continue to seize on demand for below-market housing in South Florida. Bay Harbor Islands-based Monceau Real Estate wants to build a four-story building on a nearly 2-acre development site on the northwest corner of Southwest 216th Street and Southwest 119th Avenue…

Developer Submits Bid For Historic Courthouse Building

A developer has submitted an offer to purchase the historic Dade Civil Courthouse at 73 West Flagler in downtown Miami, according to Miami Today. GFO Acquisitions LLC, which is a subsidiary of GFO Investments, submitted the bid of “about” $52.3 million. Marisa Galbut is the CEO and president of of GFO, with Russell Galbut the chairman. The developer plans a mostly…

Worldcenter Metromover Station Closes For ‘Major Renovation’

Miami-Dade transit said it is closing the Park West Metromover station, beginning today. Closure of the station is expected to last up to six months. A “major renovation” is planned, with the upgrades being a key component of the Miami Worldcenter project. The enhancements will include, replaced tiles, new entrance canopies, refurbished escalators, new seating…

Total Demolition Permit Issued For Tower 36 Site

Miami’s Building Department has issued a total demolition permit for the Tower 36 site. The permit was both approved and issued on December 18. In Early December, developer One Thousand Group announced it had closed on the acquisition of the former gas station for $53M. Tower 36 will include branded residences, in a tower designed by internationally renowned…

Developer Proposes 90-Unit Workforce Housing Development in Goulds

Monceau Realty has filed plans for a 90-unit apartment complex in Goulds, one of Miami-Dade County’s fastest-growing neighborhoods. The proposal, submitted through Goulds 176 Estates LLC and led by Julien Haccoun, targets a 1.94-acre site at 11905 and 11915 SW 216th Street. The property, currently hosting only a duplex, was acquired for $4.2 million in 2023…

Four-Phase Project Planned for JHS Campus at 1500 N.W. 12th Avenue in Miami

The Public Health Trust of Miami is moving forward with a four-phase, mixed-use venture connected to the city’s largest hospital. The Related Group’s affordable housing branch has a 3.3-acre parcel under contract from Jackson Health System, which currently hosts a parking garage and the 691,584-square-foot Jackson Medical Tower office.

Developer Secures $291 Million in Financing for Centro City Mixed-Use Development in West Little Havana

Terra has secured $291 million in permanent financing for the first phase of Centro City, a 38-acre mixed-use development located in Miami-Dade County’s West Little Havana neighborhood. The project, spanning residential and retail components, marks a significant milestone as leasing begins and tenants prepare to move into the completed phase.

Terra Receives $291M Financing Package for Centro City Mixed-Use Development in Miami

Locally based development firm Terra has received a total of $291 million in permanent financing for the recently completed first phase of Centro City, a 38-acre mixed-use development located just west of Miami’s Little Havana neighborhood. Phase I comprises 350,000 square feet of retail space, as well as three eight-story multifamily buildings that house 470 market-rate…

Terra Secures $187M for Miami Project’s Apartment Component

Terra has secured $291 million in permanent financing for the first phase of Centro City in Miami-Dade County. The 38-acre, newly-completed mixed use development benefits from two loans from separate lenders which will be used to pay off the development’s existing construction financing. Apollo Global Management and Mack Real Estate Credit Strategies…

David Martin’s Terra nabs $291M refi for mixed-use project near Miami’s Little Havana

David Martin’s Terra scored a $291 million refinancing for the recently completed first phase of a 38-acre mixed-use project near Miami’s Little Havana. The Coconut Grove-based developer secured a $187 million loan from JVP Management secured by three eight-story buildings with 470 apartments. The buildings are expected to have their first tenants move in this March…

Location Ventures’ Miami Beach dev site sells for $18M — but investors are frozen out

Another piece of Rishi Kapoor’s former real estate empire sold for $17.5 million, but the deal froze out more than 30 co-living condo buyers. Bernice Lee, a court-appointed receiver overseeing Kapoor’s defunct Location Ventures, completed the sale of the unfinished Urbin Miami Beach co-living condominium project at 1234 and 1260 Washington Avenue in Miami Beach…

Developer Proposes 90-Unit Workforce Housing Venture for 11905 SW 216th Street in Bay Harbor Islands

Bay Harbor Islands-based Monceau Realty has filed a pre-application for a garden-style housing development in Miami-Dade County. The four-story complex would comprise 90 apartments featuring three different layout plans. Our sources indicate that homes would include one-bedroom and two-bedroom floorplans, measuring 535 to 766 square feet each.

Prive sues South American partners for more than $20M in damages

Usually, when a South Florida real estate project goes haywire, it’s the investors accusing the developer of a double-cross. But the tables have turned, according to a recent lawsuit filed in Miami-Dade Circuit Court. Prive Group and Javier Rabinovich, the North Miami Beach-based firm’s CEO, are seeking roughly $20 million in damages from six Peruvian investors: Cesar Augusto Paniagua…

Terreno Realty Acquires Industrial Park in Doral for $195.6M

Metro Seattle-based Terreno Realty Corp. has acquired Terreno Doral Air Logistics, an industrial park in the Miami suburb of Doral, for $195.6 million. The seller was not disclosed. Located at 7725-7785 N.W. 41st St., the facility is situated near the Palmetto Expressway and Miami International Airport. The property provides 110 dock-high loading positions, 36-foot clear heights…

After brief retail spending spree, Easton returns to its South Florida industrial roots

Easton Group is back in the industrial game after a short retail spending spree in recent months, buying its partner’s interest in a Doral warehouse for $26 million. An affiliate of Easton, a family-run firm led by Ed Easton that is based in Doral, is the new owner of 25th Logistics Center, a 105,000-square-foot industrial facility at 9880 Northwest 25th Street, records show.

Taubco, Landau Secure $74M Construction Loan for One Kane Concourse Office Project on Bay Harbor Islands

A joint venture between Taubco and Landau Properties has secured a $74 million construction loan for One Kane Concourse, the only Class A office development on Bay Harbor Islands in Miami. The 125,000-square-foot project is also the only Miami office building that will offer private boat access and dockage. 3650 Capital provided the loan. Located at 9551 E. Bay Harbor…

Regency Development lands $56M construction loan for Bay Harbor condo project, as South Florida financings flow

Regency Development Group landed a $55.7 million construction loan for a luxury waterfront condo project in Bay Harbor Islands. The deal adds to a torrent of financings in South Florida this year, as the region defied an expected slowdown due to elevated interest rates. Miami-based Regency plans the eight-story La Maré Regency Collection building with 33 condos…

Terra launches sales for Well-branded condos in Coconut Grove

In step with New Year’s health-and-fitness resolutions, David Martin is launching a Coconut Grove project designed for the wellness zealot. David Martin’s Terra launched sales of its second Well-branded condo project in South Florida, this time an eight-story, 194-unit planned development in Coconut Grove, according to a press release.

Neology Development Obtains $63.5M Bridge Loan from Starwood for Miami Multifamily Project

Neology Development Group has obtained a $63.5 million bridge loan from Starwood Property Trust to pay off the construction loan for Fourteen Main Street Residences, a multifamily development located along Miami’s historic 36th Street. Berkadia arranged the original $57.5 million construction loan through Churchill Real Estate to fund Neology’s third project in Miami’s…

Miami Office Activity Takes a Dive in Q4 as ‘Market Stabilizes to New Normal’

Leasing activity for the fourth quarter in Miami’s office sector has dropped 24 percent year-over-year to 3.7 million square feet, a report from Avison Young finds. Also, absorption hit negative territory at -51,370 square feet. That comes despite strong demand earlier in the year; in the second quarter, nearly +200,000 square feet of space was absorbed. Vacancy ticked up by 110 bp…

Developer Secures $107.6M Construction Loan for Luxury Condo in Surfside

Fort Partners, the developer behind the Four Seasons Residences at the Surf Club, has secured a $107.6 million construction loan to develop a 10-story luxury condominium at 9163–9165 Collins Avenue in Surfside. Designed by ODP Architecture & Design, the project will feature 14 expansive units and a subterranean parking garage with 32 spaces.

One Thousand Group and Terra have secured a $285 million construction loan for Villa Miami

One Thousand Group and Terra have secured a $285 million construction loan to bring Villa Miami to life in Miami’s East Edgewater neighborhood. As the first-ever residential tower branded by the world-renowned Major Food Group (MFG), the 650-foot-tall waterfront condominium is set to become a new architectural landmark on Biscayne Bay featuring 70 private residences…

NoMi Citywide Revitalization in Motion

During a Nov. 26 North Miami council meeting, developers unveiled plans for a transformative 22-story residential tower at 1200 North Bayshore Dr., near the bay. The project, featuring 267 units and 422 parking spaces, was pitched as a driver of economic growth for the area, all the while sparking an active debate among the project’s representative and several council…

Lease roundup: Ferraro moving law office to Miami’s Edgewater, boutique investment bank opens in Brickell

Ferraro Law Firm is ditching Brickell in favor of Edgewater. The law firm leased 28,000 square feet at Oak Row Equities’ mixed-use tower at 2600 Biscayne Boulevard in Miami, where it will move in 2026, according to the tenant’s news release. The space is bigger than Ferraro Law Firm’s current 22,000-square-foot office at 600 Brickell Avenue in Miami, where the firm’s lease…

These were 2024’s biggest news stories in South Florida real estate

This year saw record prices for waterfront homes and new projects launched by developers, buoyed by enduring demand. On the flip side, South Florida’s office market slowed down. High interest rates stifled multifamily. And residential brokerages adapted to changes brought by a landmark settlement in the class action lawsuit filed against the National Association of Realtors…

Referral Firm For Lawyers Nearly Doubling Size Of HQ In Move To Coral Gables

The No-Fault Group is almost doubling its office space, relocating its Miami headquarters in Doral to a penthouse in Coral Gables. The medical and attorney referral service company signed a lease for almost 22K SF of office space at 2990 Ponce in Coral Gables, according to a release. Colliers’ Stephen Rutchik and Kevin Gonzalez represented the landlord, Dallas-based…

Estate Cos. Receives $78M Construction Loan for Luxury Apartment Development in Davie

The Estate Cos. (EIG), a South Miami-based multifamily developer, has received a $78 million construction loan for its luxury apartment development in the north Miami suburb of Davie. Banesco Bank provided the loan for Phase I of Soleste Reserve, an eight-story property situated on 2.5 acres that features a selection of floor plans ranging from 500 to 1,100 square feet.

Related, BH and Pebb score approval for Office Depot campus mixed-use project

A partial redevelopment of Boca Raton’s Office Depot campus won a key city approval. On Thursday night, the Boca Raton Planning and Zoning Board voted in favor of a site plan by Related Group, BH Group and Pebb Enterprises to replace an existing office building with an eight-story building with 500 apartments, nearly 43,000 square feet of retail and restaurant space…

New Jersey Developer Acquires Plaza Del Mar at 250 South Ocean Boulevard in Manalapan

Garden Commercial has added to its Florida portfolio with the acquisition of Plaza Del Mar, an 83,841-square-foot shopping center located at 250 South Ocean Boulevard in Manalapan. Positioned at the intersection of Ocean Avenue and A1A, the upscale, grocery-anchored retail destination is directly across from the Eau Palm Beach Resort & Spa, offering a prime…

Garden Commercial jumps into South Florida’s Publix-anchored shopping center frenzy with $37M purchase

Garden Commercial is diving into South Florida’s Publix-anchored shopping center frenzy for its first purchase in the tri-county region. The Short Hills, New Jersey-based firm, a subsidiary of Garden Homes Management, paid $37 million for Plaza Del Mar at 201 South Ocean Boulevard in Manalapan, records and real estate database Vizzda show.

Mormon church expands South Florida portfolio with $102M purchase of apartment complex near Wellington

The Church of Jesus Christ of Latter-day Saints’ real estate arm dropped $102.4 million for an apartment complex near Wellington, marking its continued investment in South Florida. Property Reserve, which invests the church’s reserve funds into commercial real estate, bought the 284-unit Elan Polo Gardens at 4310 Chukka Lane in unincorporated Palm Beach County…

Cabot acquires Lake Park complex for $91M as warehouse deals surge

Cabot Properties joined the list of South Florida’s top industrial buyers in 2024 after paying $91.3 million for a recently completed industrial complex in Lake Park. An affiliate of Boston-based Cabot, led by CEO Franz Colloredo-Mansfeld, purchased Silver Beach Industrial Park from the project’s co-developer, Los Angeles-based American Realty Advisors…

Steve Ross lands $150 refi for downtown West Palm convention center hotel, as billionaire continues area investment

Steve Ross, the billionaire developer shunning retirement to continue working in South Florida, is on a refinancing roll. His company, Related Ross, scored a $150 million loan for its convention center hotel in downtown West Palm Beach. New York-based BDT & MSD Partners provided the loan, which refinanced an existing $105 million debt and bumped it up by $45 million…

Cleveland Clinic plans outpatient center at Steve Ross project in downtown West Palm

Cleveland Clinic is planning an outpatient center at one of Steve Ross’ projects in downtown West Palm Beach in addition to a separate new hospital elsewhere in the city. Cleveland Clinic will lease 120,000 square feet at the 15 CityPlace tower that Ross’ Related Ross plans to develop, according to a Cleveland Clinic news release. It will offer chemotherapy and infusions…

Steve Ross trades New York state of mind for West Palm Beach

During the pandemic, Steve Ross took refuge in his historic Palm Beach estate, known as the Reef. But the now 84-year-old wasn’t just weathering the coronavirus nor relaxing on the two sprawling oceanfront acres in his golden years. Ross — billionaire, developer, lawyer, philanthropist, and Miami Dolphins owner — was there to reimagine West Palm Beach, the city over…

SJC sells Whole Foods-anchored shopping center in Palm Beach County for $49M

SJC Ventures sold a Whole Foods-anchored shopping center for $49.2 million to a Russian investor beefing up his South Florida retail portfolio. An entity managed by Boca Raton-based investor Yevgeniy Yermakov acquired Boynton Beach Marketplace at 7395 Boynton Beach Boulevard in Palm Beach County, records and real estate database Vizzda show.

Q4 2024 Preliminary National CRE Trends

Multifamily Continued to Defy the Supply Shock, Office’s Vacancy Rate Broke Another Record, Retail Rents Drift Higher with Tight Supply, And Industrial Maintains Status Quo The Federal Reserve’s battle against inflation continues to remain important as the prolonged economic soft landing endures. Three rate cuts by the FOMC throughout 2024 helped…

Here’s What It Costs To Build the Office Tenants Say They Want

The higher cost of construction and design services for office space has cooled in parts of the United States, a change that some project professionals hope is a sign that tenants and landlords could look to resume stalled or delayed plans for interior renovations. Design and construction costs are expected to climb about 2% this year in some U.S. markets, according to a new…

Chart – Inflation Watch as 2025 Begins: TIPS Spead Indicating 2.44% Expected Inflation for Next 5 Years

The chart above is of the 5-Year breakeven inflation rate, commonly referred to as the TIPS spread, for the five year period ending on January 7, 2025. This illustrates the difference in the yields, i.e. the spread, between United States Treasury bonds and Treasury Inflation-Protected Securities (TIPS) of the same maturity. This is a useful and frequently quoted measure…

2025 Self Storage Cycle Check

As we head into 2025, we want to review where we are in the self storage cycle. The industry is known for its dramatic swings, so the question we try to answer below is where we think we are. I got into the industry 10 years ago and at the time wrote that the industry was approaching the peak of oversupply. Today, we find ourselves at the complete other end of that spectrum.

DOJ widens case against landlords

The Department of Justice is expanding its price-fixing lawsuit against real estate software company RealPage, accusing six landlords of unlawfully conspiring to raise rents. The property managers — which include Blackstone, Cushman & Wakefield and Greystar Real Estate Partners — allegedly shared prices to manipulate rents using RealPage, which was initially sued by the DOJ…

JP Morgan: 2025 commercial real estate trends

Following several years of elevated inflation, muted growth and general uncertainty, commercial real estate could be positioned for an upswing. “The industry is poised to be in a better place compared to the last few years,” said Victor Calanog, Global Head of Research and Strategy, Real Estate Private Markets at Manulife Investment Management. “It appears that the landing will…”

Why is 2025 Likely to Have Strong Apartment Demand if Job Growth Has Slowed?

Demand surprised to the upside in 2024, with a calendar year figure totaling nearly 667,000 units absorbed. The expectation is that this should carry forward into 2025, even if the pace of absorption diminishes slightly due to the likelihood of slowing new deliveries. Moderating job growth is a potential demand concern going into 2025. Indeed, job growth…

Miami Herbert’s real estate programs pave the way in commercial real estate education

Miami’s vibrant urban development, thriving tourism, and business-friendly environment make it the perfect place to study real estate. The city’s constant evolution, with new developments in commercial, retail, and healthcare real estate, provides undergraduate and graduate students at the University of Miami Patti and Allan Herbert Business School with ample…

Dubai-based developer of Surfside collapse site plans $20B US data centers investment

The developer of the Surfside collapse site plans to pump at least $20 billion into data centers across the U.S. Dubai-based Damac Properties, led by Hussain Sajwani, will target data centers in Arizona, Illinois, Indiana, Louisiana, Michigan, Ohio, Oklahoma and Texas, President-elect Donald Trump announced at a news conference on Tuesday, CBS News reported.

Prologis pads its South Florida industrial portfolio, pays Codina $57M for Doral warehouse

Prologis is ending the year with South Florida’s eighth largest industrial deal of the past 12 months, paying $57 million for a Doral warehouse. An affiliate of Coral Gables-based Codina Partners, led by Armando Codina and Ana-Marie Codina Barlick, sold the 157,214-square-foot facility to San Francisco-based Prologis, led by Hamid Moghadam, records show.

Prologis Adds Doral Warehouse To South Florida Industrial Portfolio

Prologis is closing out the year with one of South Florida’s largest industrial transactions, acquiring a Doral warehouse at 13155 Northwest 19th Lane for $57 million, making it the eighth largest industrial deal in the region over the past 12 months. The 157,214-square-foot property was sold by an affiliate of Coral Gables-based Codina Partners, led by Armando Codina…

Here are South Florida’s biggest industrial leases of 2024

South Florida’s industrial market started showing signs of softening this year. The three biggest leases signed this year were for 200,000 square feet or more, while last year five leases broke this size threshold. In 2022, two leases were for more than 500,000 square feet. In the years immediately after the pandemic’s onset, South Florida’s industrial market boomed…

Here are South Florida’s top office sales of 2024

This year’s office investment sales in South Florida were squarely in line with market trends. The biggest deal was in Miami’s booming Brickell Financial District, while properties in the suburbs traded at a discount amid an elevated interest rate environment. In the leasing frenzy of the past four years, Brickell was a top choice among out-of-state companies expanding or moving…

Here are South Florida’s biggest office leases of 2024

South Florida office leasing fell off its peak this year. The slowdown marks a turnaround from the leasing blitz of the past three years, as South Florida became a magnet for new-to-market companies. Firms opened offices in the tri-county region or moved their headquarters, attracted by the business friendly climate and rents that offered a bargain compared with New York…

Here are South Florida’s biggest retail leases of 2024

Low vacancy rates and strong asking rents fueled another healthy year for South Florida’s retail market. Still, the biggest leases of the year were a fraction of the size of last year’s top leases. Gyms, theaters, discount retailers and grocery stores were some of the tri-county region’s top tenants in 2024. Related Ross’ CityPlace in West Palm Beach scored two of South Florida’s biggest…

The 11 Biggest South Florida Commercial Real Estate Sales Of 2024

As 2024 wraps up its final chapter, we can look back on another big year for South Florida’s commercial real estate market. While most end-of-year lists keep things tidy with 10 things, we’re turning ours up to 11 because it wouldn’t be a proper Miami list if it weren’t a little over the top. These deals span hotel, office, industrial and multifamily trades, and they total $2.7B…

Developer Secures Construction Loan for ‘9900 West’ at 9900 West Bay Harbor Drive in Bay Harbor Islands

In June 2024, Florida YIMBY shared that 9900 West, a residential housing development in Miami-Dade County, had officially broken ground. Now, we have an update regarding this emerging venture. Developer The Horizon Group has secured a $27 million construction loan to help make the project possible. Upon completion, the seven-story venture will yield 23 homes.

Landau, Taubco land $74M construction loan for Bay Harbor office project, as South Florida financing keeps flowing

Landau Properties and Taubco scored a $74 million construction loan for an office project in Bay Harbor Islands. The deal comes as financing continues to flow for South Florida developments, including offices, despite general concerns about the asset class’s long-term viability. New York-based Landau and North Miami-based Taubco will start construction this month…

BH targets North Bay Village, under contract to purchase multifamily project for $80M-plus

BH Group is adding a North Bay Village multifamily project to its South Florida portfolio, The Real Deal has learned. The Aventura-based firm, led by Liat and Isaac Toledano, is under contract to purchase Wake Biscayne Bay, a 329-unit apartment project at 7501 and 7525 East Treasure Drive, for more than $80 million, a source familiar with the deal told TRD.

Wellness-Focused Residences Planned for 2855 Tigertail Avenue in Coconut Grove

Terra and THE WELL have announced plans for THE WELL Coconut Grove, their second wellness-focused residential project in Miami. The $650 million development, located at 2855 Tigertail Avenue, will follow the success of THE WELL Bay Harbor and continue the integration of wellness-centered design into high-end residential living. Located in Coconut Grove…

Amtrak derails decades of deals to serve Miami International Airport

Amtrak, now eight years late pulling its first train into a station built to its specifications at Miami International Airport, has finally set a firm arrival date: never. In a short letter, the National Railroad Passenger Corp. stunned transportation officials who had been negotiating final details of Amtrak’s station lease by saying that running its Miami trains as far as the airport would…

Gray look wins OK for Cymbal DLT Midtown development

A developer who plans to bring new workforce housing to Miami with a new tower between Midtown Miami and Wynwood is now advancing after a redesign of the project. Owner-developer North Miami Avenue LLC proposes a 35-story building at 3466 N Miami Ave. with 598 residences, 18,108 square feet of retail and 4,547 square feet of offices, plus a large parking…

Whitman family lands mammoth $740M refi, construction loan for Bal Harbour Shops expansion

Bal Harbour Shops’ owner landed a $740 million loan for the high-end retail center, marking continued lending in South Florida. New York-based investment behemoth Blackstone provided the loan, which refinances a $550 million debt secured in 2019 and also provides construction financing for the shopping center’s expansion, according to records and the landlord’s news…

Bridge to Aventura Mall put off another year

A footbridge across Biscayne Boulevard from Brightline’s rail station in Aventura to land owned by retail giant Aventura Mall that was to have opened by Thanksgiving 2024 “in time for the holiday rush at the mall” instead is due by Thanksgiving 2025. Details aren’t final, Jose Gonzalez, senior vice president of Brightline owner Florida East Coast Industries, told…

Tight Coconut Grove office market keeps rents rising

Office space in Coconut Grove remains in high demand as low vacancy rates reflect the limited amount of space available. Bert Checa, a principal at Lee and Associates South Florida, says the vacancy rate in Coconut Grove is 2.75% and the average rental rate for Class A and Class B office spaces combined is $70 per square foot. Impacting the conversation are new developments…

Villa Miami Secures $285 Million in Financing Following Groundbreaking in Edgewater

Terra and One Thousand Group have secured a $285 million construction loan for Villa Miami, a 650-foot-tall waterfront condominium set to rise in Miami’s East Edgewater neighborhood. Designed by ODP Architects, the tower will feature a distinctive copper-colored exoskeleton and mark the first residential project branded by Major Food Group (MFG). Construction…

Developer Files Pre-Application for Five-Story, Mixed-Use Project in West Miami

Part of a 1980s-era strip mall in Miami-Dade County could be replaced with housing and retail. Longpoint Realty Partners has filed a pre-application for a five-story mixed-use venture that would offer 176 apartments occupying the mid-rise’s top four floors. The one-bedroom and two-bedroom homes would measure 700 to 950 square feet each; communal amenities…

Developers Secure $74M Loan to Begin Construction on One Kane Concourse in Bay Harbor Islands

Miami-based real estate development firm Taubco and national developer Landau Properties are moving forward with One Kane Concourse, a boutique Class A office building in Bay Harbor Islands. Designed by architect Luis Revuelta, the seven-story development will feature 75,000 square feet of luxury office space, a ground-floor waterfront restaurant…

$2.3M Sale of Office Building in Miami’s Pinecrest Village Brokered

NAI Miami | Fort Lauderdale has brokered the $2.3 million sale of a two-story, 9,192-square-foot office building located at 9703 South Dixie Highway in the Miami village of Pincecrest. Jeremy Larkin, Joseph Gallaher and Valentina Tawil of NAI Miami | Fort Lauderdale represented the seller, an entity doing business as 9703 Dixie LLC, in the transaction.

JV Secures $74M Loan for Bay Harbor Islands Building

A joint venture of Taubco and Landau Properties has received a $74 million construction loan to develop One Kane Concourse, a 125,000-square-foot office building on Miami’s Bay Harbor Islands. Rendering of the One Kane Concourse office building on Miami’s Bay Harbor Islands. Image courtesy of One Kane Concourse The seven-story waterfront project at 9551 E. Bay Harbor…

Developers Break Ground on 8-Story Mixed-Use Development at 8111 S. Dixie Highway in West Palm Beach

Woodfield Development and Flagler Realty & Development Inc. have officially broken ground on a mixed-use development at 8111 South Dixie Highway in West Palm Beach, Florida. Designed by Spina O’Rourke + Partners and with Verdex Construction as the general contractor, the project is located along the C-51 Canal in the city’s South End neighborhood and will…

YAKOL Capital Plans 320-Unit Biophilic ‘House’ at 237 NE 54th Street in Miami

YAKOL Capital is working with a Japanese architect on an “attainable” condo development in Miami-Dade County. One project is House, a 320-unit project that would offer residences at about $1,100 per square foot. Here, the smallest homes would start in the low $300,000s. Sources indicate that construction will start construction in 2026, offering a pathway…

Two-tower Little River development targets 355 residences

Miami-based B Developments is proposing a major mixed-use project bringing multi-family residential units and more than 35,000 square feet of ground-level retail space to a high-profile intersection in the Little River neighborhood of Miami. Applicant LGE 79 LLC plans to build the 12-story dual tower development, 7880 Biscayne Boulevard, on property…

As Miami-Dade Courthouse set to open, historic site gets buying offer

Relentless time has pushed completion of the new Miami-Dade County Courthouse a tad passed its scheduled opening, now set for Jan. 21, according to Kathy Labrada, chief efficiency & compliance officer for the county’s Internal Services Division. Miami Today was given that deadline in early December. In mid-October, Miami Today was given a completion date almost…

Loan advances transit-oriented Upland Park residences near Dolphin Park-and-Ride Transit Terminal

A $170 million construction loan is moving a $1 billion mixed-use community off the back burner with a 47-acre West Miami-Dade project – including residential, retail and commercial uses – transforming the Dolphin Park-and-Ride/ Transit Terminal into a major multimodal transit hub. Developer Terra is receiving the loan from SCALE Lending, part of the Slate…

Apartments about to rise as Southplace stores are built out

Southland mall in Cutler Bay is on track to be replaced by Southplace City Center as the project is soon to deliver residential units, dining options and updated shopping options. Apartment construction is expected to start early in 2025 and stores are already building out space. Electra America, a real estate private equity firm, and BH Group, a Miami-based private real estate…

Project OK’d for Overtown to include micro-dwellings

A real estate developer plans to bring more housing to Miami’s Overtown/Park West community, including micro-dwellings. Block 19 Owner LLC plans to construct ONE W12 residences at 1129 NW First Court, a 22-story mixed-use tower, home to 372 residences, about 4,892 square feet of commercial space, and a parking podium for more than 800 vehicles.

Edgewater residential project to wrap in existing church

A sleek new residential tower framed by an exoskeleton is planned for the Edgewater neighborhood of Miami, about two blocks from Biscayne Bay. Ofizzina Edgewater LLC, the applicant and co-owner of the property at 422 NE 29th St., plans to build Black Salmon-Edgewater, a 36-story mixed-use building containing 229 residential units, 4,416 square feet of retail…

Terra, One Thousand Group land $285M construction loan for Major Food Group-branded condo tower in Edgewater

Terra and One Thousand Group scored a $285 million construction loan for a Major Food Group-branded condo tower in Edgewater, amid a flurry of South Florida financings. Terra and One Thousand Group started development this month on the 56-story, bayfront Villa Miami with 70 condos at 710 Northeast 29th Street in Miami, according to the developers’ news release.

Barry Sternlicht’s Starwood provides $64M refi for Lissette Calderon’s Allapattah project

Lissette Calderon’s nearly completed multifamily project in Miami’s Allapattah scored a $63.5 million refinancing from billionaire Barry Sternlicht’s Starwood Property Trust. Miami Beach-based Starwood provided the bridge loan to Calderon’s Miami-based Neology Development Group. The new mortgage pays off a previous $57.5 million construction loan from Churchill…

UHealth Doral Opens 160,000-Square-Foot Medical Center in Downtown Doral

UHealth and construction firm Robins & Morton marked the opening of UHealth Doral with a ribbon-cutting ceremony on November 21. The six-story, 160,000-square-foot medical center at 8375 NW 53rd Terrace is part of the larger Downtown Doral mixed-use community in Miami-Dade County. The facility includes 33 exam rooms, eight operating rooms, three endoscopy suites…

Robins & Morton Delivers 160,000 SF UHealth Doral Medical Center

Birmingham-based general contractor Robins & Morton has delivered a new 160,000-square-foot medical center in Doral, a western suburb of Miami, on behalf of University of Miami health system UHealth. The six-story UHealth Doral property opened in late November. Designed by Arcadis, the healthcare property features 33 exam rooms, eight operating rooms…

Kushner Cos. Acquires The Hamilton Apartments in Miami for $190M

Kushner Cos. has acquired The Hamilton, a 276-unit apartment community located in the Edgewater neighborhood of Miami. Apartment Investment and Management Co. (Aimco) sold the multifamily property for $190 million.  Located at 555 N.E. 34th St. along Biscayne Bay, the community is situated with proximity to downtown Miami and the city’s Brickell financial district.

‘One West Twelve Residences’ Slated for 1129 NW 1st Court in Miami

PMG, Lion Development Group, and LNDMRK Development have plans for a high-rise residential endeavor in Miami-Dade County. One West Twelve Residences (also known as ONE W12) will offer 372 residences that allow for short-term rental options through platforms like VRBO and AirBnb. Layout plans include studio and one-bedroom homes. According to the venture’s…

‘Upland Park’ to Break Ground Next Year in Miami-Dade County

South Florida-based Terra is one step closer to breaking ground on Upland Park, thanks to the acquisition of a $170 million construction loan from SCALE Lending. Upon completion, the $1 billion “multimodal” venture will offer residential, retail, and commercial space. Here’s what’s in store. Multi-Housing News shares that the first phase will offer 578 apartments.

Helm Equities plans mixed-use Miami Design District project using Live Local Act

After a decade of owning a development site on the eastern end of the Miami Design District, Helm Equities submitted plans for a $500 million mixed-use project that would use the state’s Live Local Act. Helm Equities, an affiliate of New York-based JEMB Realty, plans a two-building project with 162 branded condos, 116 rental apartments, 80,000 square feet of office space…

Starchitect’s Firm Could Design Downtown Miami’s Metrocenter

The name of the architecture firms involved in bidding for Downtown Miami’s Metrocenter project have been revealed, according to the SFBJ. Metrocenter could also have 5,000 residential units, one of the bidders said. Three bidding teams have emerged for the development, each comprised of multiple major developers. According to the report, the architects now…

Tony Robbins Buys Penthouse At Under-Construction Waldorf Astoria Supertall

Life and business strategist Tony Robbins has purchased at the under-construction Waldorf Astoria Hotel & Residences Miami, according to developer PMG. In addition, Robbins’ multi-billion family office, Robbins Gupta Holdings, acquired office space at the property to expand the firm’s footprint in the city. Ajay Gupta, a co-founder of the firm, also purchased a penthouse…

Demolition Underway At One Bayfront Plaza Supertall Site

Demolition at the One Bayfront Plaza supertall site now appears to be underway, photos posted to social media by @AllThings305 and Anthony De Yurre show. Interior demolition of building began in May 2023. According to a memo posted by @AllThings305 in October, the demolition process will now occur in multiple phases. The first phase includes demolition of a garage…

TA Realty drops $160M for Opa-locka warehouse campus, marking South Florida’s third biggest industrial deal this year

TA Realty dropped $160 million for a warehouse complex in Opa-locka, marking the third biggest industrial deal in South Florida this year. Boston-based TA Realty bought the Ironwood Commerce Center 12700 Northwest 42nd Avenue from New York-based Link Logistics, according to records and real estate database Vizzda. It’s the latest sale by Blackstone subsidiary…

Presidente Supermarket on tap in Miami Gardens and Other South Florida Leasing News

Presidente Supermarkets will open an outpost in Miami Gardens in July of next year. The grocery store leased 26,800 square feet at 5580 Northwest 167th Street, according to the tenant’s news release. Alan and Josh Levy were part of the Levy Realty Advisors team that represented the landlord. Neyda Bravo and Luis Gonzalez of Bravo & Partners represented the tenant.

Lease roundup: Ferraro moving law office to Miami’s Edgewater, boutique investment bank Max Benjamin Partners opens in Brickell

The law firm leased 28,000 square feet at Oak Row Equities’ mixed-use tower at 2600 Biscayne Boulevard in Miami, where it will move in 2026, according to the tenant’s news release. The space is bigger than Ferraro Law Firm’s current 22,000-square-foot office at 600 Brickell Avenue in Miami, where the firm’s lease ends in 2028. Ferraro Law firm also…

‘Soleste Reserve I’ to Soon Break Ground at 5079 SW 48th Street in Davie

Earlier this March, Florida YIMBY reported on Soleste Reserve I and II, a multi-family housing development in Davie, FL. Now, we have an update regarding this emerging project. Sources indicate that developer The Estate Cos. intends to soon break ground on the first phase, which upon its anticipated completion in two years, will offer 347 apartments in eight stories.

Estate lands $78M construction loan for 347-unit rental project in Davie, amid record South Florida multifamily pipeline

Estate Companies landed a $78 million construction loan for a 347-unit apartment building in Davie, amid a record multifamily pipeline in South Florida. South Miami-based Estate plans the eight-story Soleste Reserve 1 with some workforce-price units at 5079 Southwest 48th Street, according to the developer’s news release. Banesco USA provided the financing, which consists…

FCP drops $68M for new 250-unit Miramar rental complex, amid year-end rush on South Florida investment sales

FCP bought a newly completed 250-unit apartment complex in Miramar for $67.5 million, amid a year-end rush on South Florida investment sales. Chevy Chase, Maryland-based FCP, which is short for Federal Capital Partners, bought Alexan Miramar at 3155 Southwest 147th Terrace from the developer, Trammell Crow Residential, according to records and real estate…

BAM plans 257-unit multifamily development near downtown Fort Lauderdale

BAM Property Development won approval for a 257-unit multifamily development in Fort Lauderdale’s Flagler Village area. The Fort Lauderdale City Commission unanimously approved the site plan Tuesday and conditioned its approval on the firm making a $2.6 million payment to the city in lieu of an affordable housing development. New York-based BAM, led by Mayer Berkovits…

Green Mills plans affordable senior housing and food bank in Fort Lauderdale

Green Mills Group plans Lofts on Sixth, an eight-story mixed-use development near downtown Fort Lauderdale, with 90 affordable housing units for low-income seniors and a new home for a local food bank catering to the elderly. “We’re hoping to close financing and put shovels in the ground in the second quarter of next year,” Mitch Rosenstein, a founder and principal…

Spira Equity pays $20M for low-income rental complex in Lauderdale Lakes, amid continued appetite for South Florida affordable housing

Spira Equity Partners bought a low- and moderate-income apartment complex in Lauderdale Lakes for $20 million. The deal marks continued investment appetite for South Florida affordable housing, which buyers view as more resilient to elevated interest rates and the record supply of market-rate units amid slower demand. Vancouver, Canada-based Spira Equity…

Stiles Buys Wilton Manors Retail Center

Stiles and FCA Partners have acquired Shoppes of Wilton Manors, a 77,746-square-foot neighborhood retail center in Wilton Manors, Fla., part of Greater Fort Lauderdale, for $27.6 million. The seller was Grass River Property, a South Florida investor, which acquired the property in 2018 for $21 million. Shoppes of Wilton Manors was re-acquired by Stiles.

Stiles drops $28M for Wilton Manors shopping center, plans renovations

Stiles bought a shopping center in Wilton Manors for $27.6 million, but it won’t pursue the seller’s previous plan to redevelop a portion of the site with an apartment building. Fort Lauderdale-based Stiles bought the Shoppes of Wilton Manors at 2200-2292 Wilton Drive from an entity linked to Coconut Grove-based Grass River Property, according to records and real estate database…

Four Corners drops $49M for Plantation rental complex, amid flurry of South Florida multifamily deals

Four Corners Development Group bought a 210-unit apartment complex in Plantation for $48.6 million, amid a flurry of year-end multifamily deals. The New York-based firm purchased Nottingham Pine at 1 South Pine Island Road from investors Krishna Persaud and Arvind Reddy, according to records and real estate database Vizzda. The deal breaks down to $231,333…

Bowery buys 352-unit rental complex in Lauderhill for $44M, as year-end multifamily deals continue

Bowery Properties bought a 352-unit apartment complex in Lauderhill for $44.1 million, marking a continuation of the year-end rush of South Florida multifamily investment sales. An entity tied to Bowery owner Thomas Neary purchased Windward Vista Apartments at 4491 Northwest 19th Street from an affiliate of Chevy Chase, Maryland-based FCP, according to records…

South Florida by the numbers: Broward on the rise

“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics. Bookended by billionaire buyers in Palm Beach and Miami, development pros in Broward County are leaning into what works in that market: high-quality waterfront and downtown condos that are (relative to its northern and southern neighbors) reasonably…

‘Seacrest Sound Apartments’ Approved for 1390 North Seacrest Boulevard in Boynton Beach

On December 17th, Boynton Beach’s City Commission approved plans for an affordable housing development known as “Seacrest Sound Apartments”. The venture will offer 89 homes divided amongst two three-story buildings, comprising close to 75,000 square feet of new construction. Residences will span one-bedroom to three-bedroom units, available to those earning…

PulteGroup plans 41 workforce-priced homes in Boynton Beach, 75 luxury houses near Palm Beach Gardens

PulteGroup plans to build 41 workforce-priced homes in Boynton Beach and 75 luxury houses near Palm Beach Gardens. The Atlanta-based homebuilder will start construction early next year of the workforce-priced Heart of Boynton complex with 19 single-family homes and 22 townhomes between North Seacrest Boulevard and Northeast First Street, and between Northeast…

Developers Break Ground on Rosewood Residences Hillsboro Beach

Construction has officially commenced on Rosewood Residences Hillsboro Beach, a luxury waterfront condominium development at 1180 Hillsboro Mile in Hillsboro Beach by developers Related Group and Dezer Development. This marks the area’s first hospitality-branded condominium and features 92 residences offering oceanfront and coastal living. Completion is slated for 2026….

The Belgrove Resort & Spa Joins Marriott’s Autograph Collection in West Palm Beach

The Belgrove Resort & Spa has opened its doors along Lake Mangonia in West Palm Beach, marking its debut under Marriott International’s Autograph Collection. Developed by Access Real Estate and Witkoff, the six-story property introduces a modern retreat to the region, featuring 150 guest rooms and plans for 22 villas to be completed by late 2025.

Westlake Palms Shopping Plaza to Break Ground in Palm Beach County’s Growing Westlake Community

Westlake, Palm Beach County’s newest city, will see the addition of the Westlake Palms shopping plaza, with construction scheduled to begin on January 3, 2025. The 1.3-acre commercial development site, located at 4931 Seminole Pratt Whitney Road, was sold by Minto Communities, the master developer of Westlake, to Westlake Palms, LLC, led by Don Hearing….

Billionaire Jeff Greene sells former Palm Beach Post Office to the Breakers for $28M

Billionaire Jeff Greene sold the former Palm Beach Post Office to the Breakers for $28 million. Records show the developer sold the building at 95 North County Road, adjacent to the Breakers golf course, to the Breakers Palm Beach. The Breakers resort spans 140 acres at 1 South County Road, and includes a 534-key hotel, two 18-hole golf courses and a private beach.

Video: PwC Real Estate Deals Leader Tim Bodner Discusses 2025 Real Estate Deals Outlook

In a recent episode of America’s Commercial Real Estate Show, the show host engaged in an insightful discussion with Tim Bodner, Partner and Global Real Estate Deals Leader at PwC, about the outlook for commercial real estate in 2025. The episode covered pivotal topics such as transaction volume, interest rates, emerging sectors, and the overall economic environment.

The Fed on whether financial conditions are tight or loose; calculating and graphing z-scores

Credit spreads are the difference between the performance of corporate-issued debt and the spot Treasury curve. Analysts look at these spreads to gain insight into the return investors get for owning riskier securities, as opposed to risk-free Treasury bonds. However, different segments of the corporate credit sector have different means and variance, which makes it difficult…

Retailer Bankruptcy Update: Party City to Close All Stores, The Container Store Files for Chapter 11

In a one-two punch of holiday retail bankruptcy announcements, Party City has issued a formal statement declaring that it will close all its U.S. stores within the coming months, while The Container Store has also formally filed for Chapter 11 bankruptcy protection. CNN first reported on Friday, Dec. 20, that Party City, which filed for Chapter 11 bankruptcy protection…

Integrating Climate Resilience into Cashflow Projections: Insights from IIGCC Report

2024 is expected to be the first calendar year that has global average surface temperatures above the 1.5°C goal set by the Paris Agreement, making it the hottest in at least 125,000 years. This target is meaningful, because beyond this amount of warming, climate tipping points are expected to lead to significantly more damaging physical impacts from the warming climate.

Video: Ares Management CEO Michael Arougheti on Navigating Commercial Real Estate Opportunities in the New Year

In a recent Bloomberg TV interview with Sonali Basak, Michael Arougheti, CEO of Ares Management, shared insights into how rising interest rates could drive M&A activity in 2025. He explored the shifting competitive dynamics in private credit, Ares Management’s strategic approach to real estate investing, and the challenges and opportunities presented by their…