Trump’s Condo Development Approved by Doral Officials, Pending Further Review
The proposal from President Donald Trump’s organization to build a 2,209-unit condo complex at the Trump National golf course in Doral, Fla., was approved on first reading Wednesday night at a meeting of the local planning agency. But The Trump Organization will still need to return with more details at a later time for full […]
SiriusXM moving to Miami
Radio giant SiriusXM is opening a broadcast center and office in Miami Beach inside Starwood Property Trust’s newly completed headquarters. SiriusXM’s venue, scheduled to open next year, totals 10,606 square feet, a SiriusXM spokesperson told Commercial Observer. The third-floor will house a 6,314-square-foot office for 30 people. The first-floor suite, spanning 4,292 square feet, will […]
“Stuff is going to start moving at reset values” – from Commercial Observers Future Forward Miami Conference
South Florida is poised to weather an expected recession better than most parts of the United States, according to real estate executives who spoke Thursday at Commercial Observer’s Future Forward Miami conference. “Unlike the rest of the country, the commercial office market here is strong, rising, with significant pent-up demand,” said Don Peebles, chairman and […]
Related Group and 13th Floor Investments pull out of $500M condo termination buy
Related Group and 13th Floor Investments’ blockbuster Miami Beach deal is no more. Back in March, the joint venture offered $500 million to buy out the Castle Beach Club, an oceanfront condominium building in Miami Beach built in 1966. The proposed deal would have effectively become Miami’s most expensive land trade, surpassing Citadel’s $363 million […]
Edgewater 1.5 acre dev site sells for $22.5M or $344psf
Oak Row Equities and Lndmrk Development, prominent Miami-based developers, are teaming up in Edgewater to build a luxury rental property. The joint venture paid $22.5 million for a 1.5-acre site at 401 NE 29th Terrace, just east of Biscayne Bay, the firms announced. “This is one of the last remaining continuous parcels in Edgewater East […]
Miami and Florida Rental Rates normalizing
October 2022 Miami Rent Report by ApartmentList.com reposted here Welcome to the October 2022 Miami Rent Report. Miami rents declined over the past month. In this report, we’ll evaluate trends in the Miami rental market, including comparisons to cities throughout the metro, state, and nation. Miami rents declined over the past month Miami rents have […]
Ken Griffin to re-imagine Miami with new construction
Billionaire Ken Griffin revealed details of his plans to put his stamp on Miami — including a waterfront office tower with a helipad, marina and restaurants — that could cost the Citadel founder and CEO $1 billion to develop. It’s well known that Griffin and his companies, Citadel and Citadel Securities, are relocating from Chicago […]
559 unit Rental to be developed in Hialeah by MG Developer
A joint venture led by MG Developer scored $148 million to build a rental complex in Hialeah, Fla., the developers announced. The development — a partnership with New York-based Baron Property Group and L.A.-based Township Capital — will feature 559 rental apartments, ranging between 500 and 800 square feet, across two 10-story towers. Amenities at […]
325 unit Fort Myers apartment refinanced with 10 year Freddie Mac debt
WTI Capital has landed a $54.8 million refinancing for a multifamily property in Fort Myers, Fla., Commercial Observer has learned and published. As a Freddie Mac seller-servicer, Newmark arranged the fixed-rate financing with a team led by Matthew Williams, James Maynard, Kyle Schlitt, Robert Wright and Alexis Ashley-Pierre. Located at 15270 Ballast Point Drive, Channelside […]
Southland Mall Makeover to break ground in 2023
A joint venture led by Electra America plans to spend $1 billion to revamp the ailing Southland Mall in Cutler Bay, Fla., into a sprawling mixed-use complex, the partners announced. The ownership team, which also includes multifamily operator American Landmark and Miami-based developer BH Group, envisions transforming the indoor mall, which sits on 80 acres, […]