Watch this enlightening interview of Avra Jain, the Miami area real estate developer that leads the Vagabond Group, developer of the Mimo Distrcit’s Vagabond Motel, a well regarded Miami hotel property, among others.
Swiss developer debuts in Miami with multifamily project Swiss firm Empira Group is making its foray into South Florida with a $9 million purchase of a multifamily development site in Miami’s The Roads neighborhood. Empira wants to build the eight-story CoralGrove Brickell project on a half-acre site along Coral Way, at 3025 and 3051 Southwest […]
Miami leads nation with 58% rent spike during the pandemic Miami led the U.S. in rent hikes during the pandemic. Miami’s median apartment rent skyrocketed 58 percent to $2,988 per month since March 2020, according to a newly released report from Realtor.com. Median rents increased nationwide by 19.3 percent to a new high of $1,807, […]
Medical Properties Trust buys Palmetto General Hospital as part of $900M South Florida expansion Medical Properties Trust just closed on the fourth of the five hospitals it plans to acquire as part of a major expansion into South Florida healthcare totalling roughly $900 million. The Birmingham, Alabama-based real estate investment trust bought Palmetto General Hospital […]
3 Of 5 Top Office Transactions in Florida in Q1 were in Miami-Dade Florida’s second-largest office deal was EQ Office’s purchase of Two and Three MiamiCentral, a 333,438-square-foot office portfolio in Miami. The Chicago-based REIT paid Shorenstein $230 million for the buildings, which previously traded for $159.4 million in 2019, one year after their completion. Shortly […]
RCI Group sells River Cove Marina in Miami for $11M Real estate and marina developer and owner RCI Group sold a marina on the Miami River for $11 million. Records show RCI Group affiliate 2000 Miami River Marina sold the 72-slip River Cove Marina to Cove Marina Holding, a Delaware entity. Built in 2009, the […]
Fortune and Château score $119 million refi for Sunny Isles condo project Fortune International Group and Château Group scored $119 million in refinancing from Bank OZK for their planned La Playa de Varadero condo development in Sunny Isles Beach. The developers are planning to build two 56-story condo towers on the vacant site at 18801 […]
Homestead salmon farm reels in $210M construction loan An under-construction salmon farm in Homestead just reeled in $210 million in refinancing. Atlantic Sapphire secured the construction loan for the four-phased development at 22275 Southwest 272nd Street from DNB Bank, according to a spokesperson for Holland & Knight. Attorneys Alberto Hernandez and Elena Otero and associates […]
Procacci sells two office buildings near Dolphin Mall for $29M Procacci Development Corp. sold two office buildings in Sweetwater for a combined price of $29.3 million. Boca Raton-based Procacci Development sold the buildings at 11430 Northwest 20th Street and 11410 Northwest 20th Street, near Dolphin Mall, to New York-based Innovatus Capital Partners, according to records. […]
Moishe Mana Wants Wynwood BID Dismantled; Both Sides Call Emergency Meetings This week, Moishe Mana, one of Miami’s largest landholders, has been circulating an online petition imploring people to “Save Wynwood,” warning that some stakeholders want to stop nightlife in the district at 11 p.m. At press time, it had over 22,000 signatures. He has […]
RREEF America buys Hialeah industrial property for $178M An affiliate of Deutsche Bank bought the Centergate at Gratigny in Hialeah for $178 million, marking South Florida’s largest industrial sale of the year to date. RREEF America bought the three-building property at 5801 and 6301 East 10th Avenue from Newark, New Jersey-based PGIM, records show. Centergate […]
Westover picks up Green Briar West Apartments near Westchester for $55 million Green Briar West Apartments (Credit: Google Maps) The Westover Companies bought a 331-unit apartment complex near Westchester for $55 million. King of Prussia, Pennsylvania-based Westover Companies bought the Green Briar West Apartments at 9615 Southwest 24th Street for $166,163 per unit. The seller […]
Gatsby Enterprises pays $126M for 800 Brickell Deutsche Bank’s RREEF sold a Brickell office building to Gatsby Enterprises for $125.5 million, according to sources. Gatsby Enterprises, a New York-based real estate firm led by principal Nader Shalom, and Master Mind LLC, led by Babak Ebrahimzadeh, closed on 800 Brickell, CBRE said. The 2-acre property includes […]
Beckham group submits draft lease deal for Miami Freedom Park complex David Beckham and his partners moved forward with their plans to redevelop the Melreese Country Club property in Miami into a $1 billion mega mixed-use soccer complex. Miami Freedom Park submitted a draft lease agreement to the city of Miami that outlines the terms of […]
Carlyle JV sells Miami-Dade self-storage portfolio for $100 million An entity tied to William Warren Group just paid $100 million for three self-storage buildings spread throughout Miami-Dade County. Property records show CRP/Westport Self Storage Dixie, a joint venture between the Carlyle Group and Westport Properties that operates as US Storage Centers, sold the buildings. The self-storage […]
I Squared, Moving Headquarters to Miami, Raises $7 Billion for Infrastructure Investments I Squared Capital, an infrastructure-focused private equity firm founded by former Morgan Stanley executives, has raised $7 billion for its second fund, exceeding its original target as competition for investor capital heats up. The fund, known as ISQ Global Infrastructure Fund II, will make […]
