15.5 Acre Miami site to sell for $1.2B marking one of the largest land deals ever
As written by Julia Echikson from Commercial Observer A joint venture, led by David Martin’s Terra, has announced plans to buy a waterfront site near Downtown Miami for $1.225 billion in what could become one of the country’s priciest land acquisitions. The 15.5-acre parcel — at 1431 N Bayshore Drive between the MacArthur and Venetian […]
Miami is the top city for Gen Z
As written by Patrick Regan from the South Florida Agent Magazine Miami was recently named the top city in the nation for Gen Z techies by online form builder Jotform. The study examined the 150 largest U.S. cities and scored them on Gen Z friendliness, tech friendliness, internet connectivity and affordability. Miami was cited for […]
South Florida $87.5 Construction debt refinanced into $165M long term post showcasing lender confidence
As published by Commercial Observer A joint venture led by Related Group secured $165 million to refinance The Dorsey, a newly completed development in Wynwood. Alex Karakhanian’s LNDMRK and Ben Mandell’s Tricera Capital co-developed the mixed-use project, which opened late last year. The 618,596-square-foot building features 73,000 square feet of office space and 36,000 square […]
Miami’s Hialeah moving up
Going High-Rent in Humble Hialeah The mostly Spanish-speaking, working class city west of Miami is getting a residential makeover Written by Mike Semmuth, Commercial Obersver With a majority Spanish-speaking population west of Miami that’s approaching a quarter million, Hialeah is the sixth-largest city in Florida — and the least diverse because it’s so overwhelmingly Latino. […]
Offers coming in at $1.5B for 15acre site in Miami
The former Herald site in downtown Miami is attracting significant interest from developers, according to Bloomberg. Bids are coming in at prices which could set a U.S. record for a development site, listing broker Michael Fay told the news service. The highest bid came in at just under $1.5 billion. A total of five of […]
Homestead Apartment complex sells for 32% gain after two years
Angelo Gordon Sells Homestead, Fla., Apartments for Nearly 32 Percent Gain In a sign of Miami-Dade County’s resilient multifamily investment market, an Angelo Gordon-led joint venture sold a townhouse community in Homestead, Fla., for nearly a third more than what it paid just two years ago. IMC Equity Group, led by Yoram Izhak, dropped […]
Florida unveils new affordable housing bill with incentives for developers
Florida Senate Unveils Affordable Housing Bill With Incentives for Developers The bill bans rent caps, eliminates regulation, and offers tax breaks for affordable development After two years of skyrocketing rents, Florida’s Senate President Kathleen Passidomo unveiled sweeping legislation to curb housing costs with a pro-development approach. The proposed bill seeks to boost funding and incentives […]
New construction 420-unit Class A Multifamily sells for $269K per apartment in Miami Gardens
Harbor Group International (HGI) is back on the prowl in South Florida, scooping up yet another multifamily asset after a string of purchases last year. The Norfolk, Va.-based real estate investor paid $113 million for Oak Enclave Miami, a 420-unit property in Miami Gardens, Fla. In June, the seller, Resia, formerly known as AHS Residential, […]
South Florida Is Sitting Pretty Heading Into 2023
South Florida Is Sitting Pretty Heading Into 2023 Despite a year of economic tail whips, South Florida’s growth continued in 2022 More than anything, 2022 was characterized by an acute case of whiplash. It started off at the tail end of the longest continuous era of low-cost capital, the loosening of supply chain issues, and […]
Florida condo market braces for impact of new Surfside-inspired safety law
Florida condo market braces for impact of new Surfside-inspired safety law Stricter inspections and reserve funding mandates could have “a significant chilling effect” in the Sunshine State and beyond as more associations are forced to sell older properties. Published Oct. 21, 2022 By Robyn Griggs Lawrence, IndustryDive The Florida Condo Safety Act was signed into […]