Ex-employee claims Peebles reneged on profit-sharing agreement
Don Peebles
A former top executive at the Peebles Corporation is suing his erstwhile employer, claiming that CEO Don Peebles personally reneged on a promise to compensate him with ownership interests in properties including 346 Broadway, and ultimately fired him to avoid the sharing agreement.
In a …
Women making waves in Miami in CRE
Commercial real estate has historically been a man’s game, but women have made significant inroads in recent years — not just in sales, leasing and development, but also in other disciplines that comprise the field, including finance, legal, development, insurance and engineering.“…
New mortgage for Regions Financial Tower
Regions Financial Tower
Regions Financial Tower in West Palm Beach’s mortgage was refinanced at the end of 2014.
Weston-based Florida Community Bank provided a $14 million mortgage to Tower 1555, the owner of the 15-story office building at 1555 Palm Beach Lakes Blvd.
The property’s prev…
November 2014 construction spending tops same month last year
November construction spending in 2014 was 2.4 percent greater than in November 2013.
The U.S. Census Bureau of the Department of Commerce said Friday that U.S. construction spending during November 2014 was estimated at a seasonally adjusted annual rate of $975 billion, 0.3 percent below the r…
MDM Retail secures $42M loan for Silverspot Cinema
Met Square rendering
A silver screen in downtown Miami will see some gold, thanks to a loan from Ocean Bank.
MDM Retail received the $42 million loan from the bank for its Met project in downtown Miami.
The loan will fund the project’s movie theater, which announced i…
Sunrise Holiday Inn sells for $10.5M
Holiday Inn at 3003 North University Drive in Sunrise
A Holiday Inn in Sunrise sold for $10.5 million on Dec. 31.
Beverly Hillls-based Latitude Management Real Estate Investors Inc. sold the 177,983-square-foot building to Sawgrass Grand Fee Owner LLC, according to Broward County records.
The proper…
REITs to keep rolling along in 2015, experts predict
From left: Vornado Realty Trust’s Steven Roth and SL Green’s Stephen Green
Real estate investment trusts will likely continue to perform well in the new year, even though interest rates are poised to increase.
In 2014, REITs were some of the hottest stocks of the year, according to …