Coral Gables transforming with mixed-use projects
Public art, pedestrian-friendly developments, and a booming commercial sector are all part of the future of Coral Gables, commercial real estate experts discussed at a panel on Wednesday. Paseo de la Riviera is among the new projects. The planned, mixed-use development will replace an existing Holiday Inn with a open-air…
Luma And Vice Apartment Towers Are Quickly Approved By The FAA
Two proposed downtown rental towers were approved by the FAA this week: ZOM Development’s Luma at Miami Worldcenter was approved to be built at a height of 494 feet above ground, or 503 feet above sea level. The 44-story tower will include 429 units. Groundbreaking is expected in early 2016. PMG’s Vice at the former Empire…
Melo Group nabs $95M Ocean Bank loan for Miami condo project
Melo Group obtained a $95 million construction loan for its Aria on the Bay condominium tower in Miami’s Arts & Entertainment District. Miami-based Ocean Bank provided the mortgage to the Miami-based developer for the 647-unit project at 1770 N. Bayshore Drive. Site development work recently started and vertical construction…
Cranes flock away from Brickell City Centre
The last of 11 construction cranes for Brickell City Centre was removed last weekend, The Real Deal has learned. Most of the cranes, which ranged from 100 feet to 500 feet, made up to 120 lifts a day, working nonstop. The cranes began arriving at the Brickell City Centre site in June 2013. Their features included: Special structural steel…
Florida Community Bank lends $47M to Little Havana condo project
The InTown condominium project in Miami’s Little Havana obtained a $46.7 million construction loan from Florida Community Bank. The Weston-based bank (NYSE: FCB) provided the loan to Astor Intown, an affiliate of local developer Astor Cos. led by President Henry Torres. The 320-unit project broke ground in February…
Signature Coral Gables Building Trades
The 1955-built, signature 2-story building formerly served as the executive offices for Mayor’s Jewelers.
Bankruptcy filing by Miami Gardens warehouse owner stays foreclosure auction
The foreclosure auction of a Miami Gardens warehouse was stayed after the owner filed Chapter 11 reorganization.
The debtor, 5255 Holdings, made the bankruptcy filing in Miami on Aug. 15. The foreclosure auction was set to take place on Aug. 17 after U.S. Bank, representing a securitized commercial mortgage (CMBS) trust, won…
How Technology Is Shaping CRE
There is no doubt that technology has transformed our culture in every way. From how we communicate to how we buy services and how, and where, we work. But lately, technology’s impact has hit closer to home, in our industry. Technological advances in the commercial real estate (CRE) sector have accelerated exponentially…
CBRE Promotes Four In South Florida
Dave Donnellan, Chris Wood, A.J. Belt from the Fort Lauderdale office and Clarissa Willis from the Miami office were promoted.
Berger Commercial Closes Sale Of Broward Lakes Business Park Property
Berger Senior Vice President Steve Hyatt represented the seller in the transaction.
National Commercial Real Estate News Roundup For August 20, 2015
Will she or won’t she (raise rates)?, Chinese capital jetting around the globe, Facebook’s $1B like-button storage facility, and hospitality sector optimism put to the test. It’s all here…
Thirty Story Mixed-Use Tower Coming To North MIami Beach
An Argentine development group is planning to turn a North Miami Beach parking lot into a mixed-use apartment tower that will be one of the tallest buildings in the area.
400-Plus Investors Looked at This Retail Asset
“LNR’s strategic repositioning of the asset through renovations and solidifying the tenant roster created material value, and garnered maximum investor interest.”
Office Today, Apts. Tomorrow: Office-To-Residential Conversions Expanding Across More U.S. CBDs
A funny thing is happening in downtown markets where empty and obsolete office buildings are being converted into apartments. Companies that wouldn’t consider a downtown location back when the space was available are coming back, drawn by the large number of millennial workers who favor a funky downtown address.
South Florida has third-highest foreclosure rate in July, RealtyTrac says
The South Florida region had the third-highest foreclosure rate among metro areas in July as the number of filings increase, according to RealtyTrac. There were 7,285 foreclose filings in the tri-county area in July. That’s up 31 percent from June and up 24 percent from July 2014. RealtyTrac counts new lawsuits, notices of auction…
South Florida home sales and prices jump in July
Home sales increased by double digits in South Florida during July and prices also grew, according to the Florida Realtors. There were 4,847 sales of existing single-family homes in the tri-county area, up 13.8 percent from the same month a year ago. The median sales price increased 7.3 percent to $295,000. The statewide…
Brickell City Centre: Six more stores added to lineup
Brickell City Centre’s developers have confirmed six retailers for the massive development’s shopping center this week: Ted Baker, a contemporary menswear and womenswear brand from the U.K.; Addict, an apparel and accessories company also from the U.K.; Agent Provocateur, a luxury intimate apparel brand; 100% Capri…