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 […]
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 […]
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, […]
RAM buys new construction apartments at $324K and $301 per unit in Little Havana
Rental Asset Management (RAM) is expanding its Little Havana fiefdom, paying $31.1 million for a nearly finished residential tower next door to a similar building it bought earlier this year, property records show. The 14-story property, located at 590 W Flagler Street, two blocks west of the Miami River, will feature 96 units. Construction began […]
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 […]
184 unit Boynton Beach Apartment sold for $358K a unit to Yuksel BB LLC
A 184-unit apartment complex in Boynton Beach, Fla., has sold for $71 million, a price that eclipses its previous sale in 2018 by 69 percent. Yuksel BB LLC of West Palm Beach is the new owner of High Ridge Landing at 3609 High Ridge Way, according to a deed recorded Friday. The seller was High Ridge Landing, an affiliate of American […]
Related Group purchased land to build 51 Condos on Fisher Island expected to sell for $60M each
A venture led by Related Group paid more than $100 million for the last developable parcels on Fisher Island, Fla., one of the wealthiest towns in the country. The joint venture, which also includes Israeli billionaire Teddy Sagi, BH Group and Wanxiang America RE Group, plans to build a cluster of 10-story condominium buildings. The […]
Lincoln Property Group acquires 297units, new construction in Boca Raton at $653K per unit
Lincoln Property Company paid $194 million for a newly built multifamily complex in Boca Raton, Fla., property records show. The development, Manor Broken Sound, features 297 units, including six villas. The purchase by Dallas-based Lincoln Property equates to $653,200 per unit. The sellers — South Florida real estate heavyweights the Related Group and Rockpoint — […]
New Development coming between Brickell and Coral Gables. 1/2 an acre for $9M
A Swiss real estate firm is planning 85 units of housing at a site in Miami soon to be known as CoralGrove Brickell. Empira Group acquired the .53-acre site at 3025 SW Third Avenue and 3051 SW Third Avenue from Chile-based developer Ambienta Inmobiliaria for $9 million, according to property records. The land sits on […]
Record setting $430M / $869K per unit sale of Coral Gables Luxury Rentals
Global real estate company Hines has paid $430 million for the 1.2 million-square-foot Gables Station development in Coral Gables, Fla., the company announced. Designed by Gensler, Gables Station is a luxury rental complex with 495 apartments, 25,000 square feet of coworking space and 80,000 square feet of health and fitness space, all centered around a […]