Billionaire Zara Founder In Talks To Buy Brickell Office Tower ‘Sabadell Financial Center’

The investment office of one of the world’s richest men is in talks to buy a Brickell office building, according to The Real Deal and Bloomberg. The Sabadell Financial Center would be sold for about $275m, the reports said. The buyer would be the family investment firm of Amancio Ortega, Pontegadea . Pontegadea has already purchased multiple major real estate assets in Miami.

Amancio Ortega’s Ponte Gadea buying Sabadell Financial Center in Miami’s Brickell for $275M

KKR and Parkway are selling the 30-story tower they bought for $249M in 2018 Spanish billionaire Amancio Ortega is buying Sabadell Financial Center in Brickell for about $275 million. Ponte Gadea, Ortega’s real estate investment firm, plans to purchase the 30-story office tower at 1111 Brickell Avenue from New York-based KKR and Orlando-based Parkway.

Michael Swerdlow on track with Miami-Dade to build $295M mixed-use project

Developer is planning 809 apartments, warehouses, retail, hospitality training center and clinic on 38 acres Miami-Dade County Commissioner Marlene Bastien and Michael Swerdlow with a rendering of the Poinciana mixed-use project at 7200 Northwest 22nd Avenue (Getty, Swerdlow Group, Miami-Dade County Commission) Michael Swerdlow is lining up another…

Central Asia’s largest developer investing in Brickell condo projects, plans to expand in downtown Miami

Kazakhstani firm BI Group has pumped $30M into partnership with Habitat Group Central Asia’s largest developer, Kazakhstani firm BI Group, is partnering with Habitat Group on three mixed-use condo projects in Brickell and is looking for more development opportunities in Miami. BI Group is a roughly 50 percent partner in the planned short-term rental friendly condo…

Turmoil at Brickell condo complex over money and power

Owners at 17-year-old Miami building have been fighting the condo association over $21M special assessment, board leadership A group of unit owners at a two-tower condo on Brickell Avenue in Miami voted to oust their association president in late November, as they were fed up with a series of his and the board’s actions that included enacting a $21 million special assessment…

Moishe Mana scores $150M refi for 56-property portfolio in Miami’s Wynwood 

No ground-up development has been completed since city OK’d 30-acre project in 2016 Moishe Mana scored a $150 million refinancing for his expansive property portfolio in Wynwood. The loan covers 56 properties in Miami’s arts district and was provided by WFL Lender, a Delaware-registered entity, according to the mortgage record. The properties surround his Mana Wynwood…

Stacy Robins seeks removal of curator overseeing late father’s estate

In court filings, she alleges Marsha Madorsky is doing a poor job tracking down Gerald Robins’ assets Stacy Robins is seeking to oust the curator overseeing her late father Gerald Robins’ estate. It’s the latest legal salvo against her mother and her three siblings whom she alleges have misrepresented how much wealth their family patriarch left behind when he died nearly three years ago.

MG Developer lines up $39M loan to build Coral Gables townhome project

Alirio Torrealba’s firm is planning 13-unit The George at Biltmore Square MG Developer’s pipeline keeps pumping along as Alirio Torrealba’s firm is about to score a $39 million construction loan for a Coral Gables townhome project. Miami-based Pine Bay Capital is providing the financing for The George, a planned development of 13 two-story townhouses at 717 Valencia Avenue…

A win for holdouts: Appeals court sides with Biscayne 21 condo owners in battle with Two Roads tied to redevelopment

Developer wants to buy build Edition Residences, now aims to take issue to Florida’s Supreme Court Two Roads Development was dealt a major blow in its legal battle over a condo buyout in Miami’s Edgewater, where the company plans an Edition Residences luxury condo project. The Third District Court of Appeal issued an opinion in response to Two Roads’ request…

Court’s decision in Two Roads’ buyout case won’t kill all condo deals, experts say

Attorneys agree the ruling will only affect condo associations with similar language as Biscayne 21 Developers were on edge Thursday after a Florida appeals court issued its long-awaited opinion in a lawsuit over a complicated condo buyout in Miami’s Edgewater. Yet, a consensus of attorneys contacted by The Real Deal agreed that the controversial ruling won’t kill all potential buyout deals…

Lease roundup: EV showroom, Japanese eatery Uchibā opening at Mary Brickell Village in Miami

Also, a law firm will move its HQ to BH Group and Pebb Enterprises’ Boca Raton project Kimco Realty scored four new tenants at its Mary Brickell Village retail center in Miami. In the biggest lease, Irvine, California-based electric vehicle company Rivian will open a 4,000-square-foot showroom this summer, according to a news release from Mary Brickell Village and Kimco.

Yamal Yidios’ Ytech proposes 113-unit condo tower in Brickell 

Developer paid $12M for site in 2021, also purchasing development rights that could have allowed up to 80 stories Developer Yamal Yidios proposes a 54-story, 113-unit condo tower in Brickell. Yidios’ Brickell-based Ytech wants to build the tower on about a half-acre property at 41 and 75 Broadway, which also is listed as 41 and 75 Southwest 15th Road in Miami, according to city records.

Developers propose 140-unit apartment building ‘Rio Vista’ near Miami River 

Italo Balbi of Bricka Real Estate, and Ashley Bosch and Gaston Corradi of CB Development plan the project Developers want to build a 140-unit apartment building near the Miami River, marking a continuing flurry of multifamily project applications in South Florida. Bricka CB Development –– led by Italo Balbi, Ashley Bosch and Gaston Corradi –– wants to build the 10-story Rio Vista…

Developers Propose Rio Vista Apartments at 413 NW 3rd Street in Miami

Bricka CB Development, a joint venture between Bricka Real Estate and CB Development, has proposed Rio Vista Apartments, a 10-story multifamily project near the Miami River. The development is planned for four parcels at 413, 421, 431, and 453 NW 3rd Street, on the northern edge of the Lummus Park Historic District, near the boundary of Overtown and Downtown Miami.

Lender wins Gateway at Wynwood bankruptcy auction with $90M bid 

A10 Capital submitted the credit bid for distressed mixed-use building and adjacent bank property Gateway at Wynwood technically has a new owner, but a last-minute buyer offering to pay more could end up with the distressed Miami mixed-use building. A10 Capital, as special servicer… loan allegedly in default, won the property at 2916 North Miami Avenue in a bankruptcy auction…

Midtown Capital plans 348-unit Live Local Act tower in Miami’s Little River, amid flurry of proposals under state law

A city board will vote on the 22-story project at its July 16 meeting Midtown Capital Partners’ Alejandro Velez with a rendering of the proposed 348-unit Live Local Act project in Miami’s Little River neighborhood (Getty, Midtown Capital Partners, Corwil Architects) Midtown Capital Partners proposes a 348-unit Live Local Act tower in Miami’s Little River…

Fortune, Blue Road land $73M construction loan for EB-5-backed North Miami Beach condos

16-story, 254-unit Nexo Residences adds to packed pipeline of short-term rental-friendly projects in Miami-Dade County Edgardo Defortuna and Jorge Savloff with a rendering of Nexo Residences in North Miami Beach (Getty, Blue Road, Fortune International Group) Fortune International Group and Blue Road scored a $73.3 million construction loan for their planned Nexo…

Miami hotels looking to hometowners to fill rooms

With summer in full swing, area hotels and spas are seeing a trend in staycations as locals are looking to take advantage of Miami’s tourism industry offerings. Local, or staycation visitors are an essential part of Miami-Dade County’s tourism landscape, said Rolando Aedo, COO of Greater Miami Convention and Visitors Bureau. “Historically we know that day trippers within a 30-mile…

Miami seeks to replace aged police headquarters

Miami officials are looking for a new location for the city’s aging police headquarters as structural issues at the current downtown facility continue to worsen and concerns grow. During the July 10 city commission meeting, officials discussed the deteriorating state of the Miami Police Department headquarters and plans to eventually redevelop the site. Commissioners directed…

Plaza behind Kaseya Center on the way, three decades

After decades of dashed hopes, county commissioners are to vote to work toward a nearly three-acre public open space behind the Kaseya Center basketball arena on Biscayne Boulevard. Funding sources are unknown. A public space behind the arena where the Miami Heat plays was envisioned in the 1990s when the county approved the development agreement for the site…

Conceptual Plans For Waterfront Land Behind Kaseya Center Set For Vote

Miami-Dade commissioners are scheduled to vote on conceptual plans for a waterfront parcel in a prime downtown Miami location. The 2.7-acre parcel is located behind the arena where the Miami Heat play, Kaseya Center. It is owned by Miami-Dade County, but has been used by a Miami Heat affiliate during events. The land is needed for staging equipment and transport…

Pedestrian bridge to Freedom Park will miss opening games

Although preliminary work began two years ago on a Major League Soccer stadium next to Miami International Airport and games are due there next spring, planning for the pedestrian bridge to the stadium is still in early stages. Developers of the Inter Miami CF stadium are still trying to pin down the exact location of the bridge that they must provide and are still seeking government funds…

22-Story Live Local Act Tower Proposed for 7501 and 7553 NE 2nd Avenue in Little River

A 22-story residential tower is being proposed for 7501 and 7553 NE 2nd Avenue in Miami’s Little River neighborhood. Filed under the Live Local Act, the project is being developed by Midtown Capital Partners under the NE 2 LR, LLC, and designed by Coral Gables-based Corwil Architects. The site comprises two parcels totaling 57,642 square feet, or approximately 1.32 acres…

Ytech Submits Plans to UDRB for 54-Story ‘Seven Broadway’ in Brickell

Ytech has submitted plans for Seven Broadway, a 54-story luxury residential tower designed by Kohn Pedersen Fox (KPF), to Miami’s Urban Development Review Board. The proposed development will be situated on a 16,647-square-foot site located at 41 and 75 SW 15th Road in the Brickell neighborhood. The lot has frontages along SW 15th Road (Broadway) and SW 14th Terrace…

Aria Reserve’s Second Tower Tops Off At 62 Stories: ‘Record Construction Timeline’

Aria Reserve’s 62-story North Tower has topped off. In a statement, developer Melo Group said the dual-tower Aria Reserve has had a “record construction timeline.” Groundbreaking for the North Tower took place in October 2023, with a foundation pour in August 2024. The development also includes the first Edgewater luxury condo building to launch and reach completion…

Plans Filed For 375 Apartments In Overtown, Near Metrorail

Plans have been submitted to Miami-Dade for a complex with hundreds of new apartments in Overtown. The Administrative Site Plan Review filing comes two months after a pre-application had been filed, and adds new renderings. The mixed-use development is planned as a Live Local project with both workforce and affordable housing, and is also transit-oriented…

Temporary Cranes Approved For Citadel 1040′ Supertall Site In Brickell

The Federal Aviation Administration has issued a determination approving construction cranes at the Citadel site in Brickell. Citadel is planning a 1,040-foot supertall tower that company founder Ken Griffin has said will be “one of the greatest office buildings built in the world.” According to the July 10 FAA determination letter, the three proposed cranes can rise 1,049 feet…

26-Story Apartment Building `The Perrin` Breaks Ground In Brickell

In Brickell, developer Empira held a groundbreaking ceremony for a new 26-story class-A multifamily tower called The Perrin. The Perrin becomes one of a few multifamily projects to break ground in Brickell in recent years, and will have 310 apartments upon completion. It is also the second development in the downtown Miami area by Empira.

Brutalist Pan Am Building at Miami International Airport Being Restored Into Private Terminal

Miami-Dade broke ground last week on a restoration project of the former Pan Am building at the airport, which will see it transformed into a private terminal. It will allow passengers who pay an extra fee to skip the crowds and security checks of the public terminals at Miami International Airport entirely. Passengers will still be able to board commercial flights…

In Under 6 Years, All Terminals At MIA Will Be Expanded Or Rebuilt

Miami-Dade Aviation Director Ralph Cutié has revealed expected completion dates for construction projects that will transform Miami International Airport over the next few years, on the Day in Miami podcast. The expected completion for all of the major project are in less than 6 years. Every terminal at MIA will be rebuilt or expanded by then. Here’s when the expected…

Q&A: It’s Always Sunny in South Florida’s Office Market

“Smaller, move-in-ready spaces are well positioned to meet current market demands. We sometimes forget, but small businesses constitute the largest segment of private-sector employers in the U.S.,” says NAI Merin Hunter Codman Inc. COO Matt Brown. Image courtesy of NAI Merin Hunter Codman Inc. South Florida’s office market has emerged as a study in contrasts…

Notable Retail Leases Signed in South Florida Q2 2025

We’ve compiled a comprehensive list of the top retail leases signed by square footage in South Florida during 2023. This past quarter was busy overall, and there were a few big box leases signed and sealed. Despite the sentiment that the traditional retail market is taking a hit due to several factors, particularly e-commerce and several retail store closures nationwide…

Photos: Flagler Street Demolition In Downtown Miami

Photos by Phillip Pessar show demolition work last week on Flagler Street in downtown Miami. A report last year said that five buildings might be demolished and replaced by a temporary public park, which would be around 71,400 square feet. The temporary park would be known as Flagler Plaza.

L&L Holding, Oak Row Equities Secure 75,000 SF Office Lease Expansion with Amazon in Miami

L&L Holding Co. and Oak Row Equities have secured a lease expansion with Amazon at Wynwood Plaza, a 1 million-square-foot mixed-used development located within Miami’s Wynwood Arts & Entertainment District. The lease expansion — which will total more than 75,000 square feet — builds on Amazon’s original agreement in January to lease 50,333 square feet at the campus.

Amazon Expands Footprint at Wynwood Plaza to Over 75,000 Square Feet

L&L Holding Company and Oak Row Equities, along with project partner Shorenstein Investment Advisers and co-investor Claure Group, have announced an expansion of Amazon’s lease at Wynwood Plaza in Miami’s Wynwood Arts District. The tech giant will now occupy more than 75,000 square feet at the 12-story office tower, which is nearing completion.

Amazon Expands Miami Office Footprint

The 266,000-square-foot office building is set to come online in the following months. Image courtesy of Shoootin Amazon will expand its office footprint to 75,000 square feet at Wynwood Plaza, a 1 million-square-foot mixed-use development within Miami’s Wynwood Arts District. A venture between L&L Holding Co. and Oak Row Equities owns the campus.

Amazon’s Offices At Wynwood Plaza Will Now Be 50% Larger; TCO Issued

The Wynwood office building where Amazon will be located has just reached substantial completion, and the company is expanding the amount of space it is taking. Miami’s Building Department recently issued a Temporary Certificate of Occupancy for the building, according to its developers. The developers also announced that Amazon has agreed to increase its office size…

Codina Partners Breaks Ground on South Florida Multifamily Community ‘Sevilla,’ Secures $100M Construction Loan

Codina Partners has broken ground on Sevilla, a seven-story, 412-unit apartment property within the 250-acre Downtown Doral mixed-use development in metro Miami. Additionally, Codina Partners has secured a $100 million construction loan from Regions Bank and Ocean Bank. Regions Bank will fund 65 percent of the loan, while Ocean Bank is providing the remaining 35 percent.

Archaeological Discovery Surfaces at 1809 Brickell Avenue During Construction of St. Regis Residences

A previously undocumented indigenous settlement and burial site, believed to date back approximately 3,500 years, was uncovered during construction at 1809 Brickell Avenue, according to a recent article by the Miami Herald. The site lies beneath the future St. Regis Residences, a luxury condominium tower by Related Group and Integra Investments…

Developer Proposes Second Phase of Culmer Place at 800 NW 5th Avenue in Miami

Miami-based Atlantic Pacific Cos. has plans for the second phase of Culmer Place, the first phase of which broke ground last spring. The addition would feature a seven-story building with 375 mixed-income apartments and span about 270,000 square feet of new construction. Homes would run from studio to three-bedroom layout plans; 300 homes would be designated…

Atlantic Pacific proposes 71-unit affordable housing project on Liberty City’s Carver Theater site

All apartments will be for households earning up to 80% of AMI Atlantic Pacific Companies plans to redevelop the long-closed Carver Theater in Liberty City with a 71-unit affordable housing project. The Miami-based company plans the 11-story Lofts at Carver Theater building on the half-acre site at 6016 Northwest Seventh Avenue in Miami…

Dade To Vote On Development Agreement With Related For 628 New Apartments

Miami-Dade’s commission is scheduled to vote on an agreement with Related Urban Development Group for a new housing complex. The deal would see the Claude Pepper Tower Public Housing Site redeveloped, including replacing 166 housing units. Previous residents have already signed a Tenant Relocation Agreement and have the right to return once the new building is complete.

Design Revealed For Four Towers At The Former Miami Herald Site

Renderings and details of a plan to build four towers on the prominent Miami Herald site in downtown Miami have been uploaded to social media by an architecture firm. The plans were prepared by Gómez Platero Architecture & Urbanism of Uruguay. They date to 2021, according to Global Design News. It isn’t clear who they were prepared for. The property is currently…

Miki Naftali Shrugs At South Florida Boom Talk After Mamdani Win

On the couch of the sales gallery for his first South Florida project, Naftali Group CEO and founder Miki Naftali said talk of another wave of wealth migration from New York to Miami, spurred on by Democratic Socialist Zohran Mamdani’s mayoral primary win in NYC, is overblown. “I think that those are just stories,” Naftali said. “New York is booming. First of all, I don’t think…

Work Underway At ‘Signature’ $345M Royal Caribbean Terminal at PortMiami

Demolition is now underway at PortMiami to make way for a new signature cruise terminal for Royal Caribbean. The old Terminal G is being demolished to make way for the new complex. The new Terminal G will serve Royal Caribbean and its other brands, including Celebrity Cruises. It will able able to accommodate up to 7,000 passengers, and Icon-class ships.

Casa Bella Residences in Downtown Miami Tops Off At 56 Stories

A topping off ceremony was held yesterday for Casa Bella Residences by B&B Italia. The downtown Miami luxury condo tower topped off at 56 stories. According to an earlier FAA filing, the building is planned to have a permanent height of around 638 feet above ground, or 648 feet above sea level. There will be 319 residential condo units in the completed building…

‘Confident, Contemporary’ Little River Live Local Tower Submitted To UDRB With 348 Units

A developer has submitted plans for a live local tower in Little River to Miami’s Urban Development Review Board. In a letter, the architect preparing the plans said the new building would be a “confident, contemporary intervention” in the neighborhood. The new tower is planned to rise 22 stories, or around 235 feet above ground, and include: 348 residential units…

Turner Impact Capital Sues Akerman For Malpractice Over $45M ‘Mistake’

A subsidiary of a $2B impact investment firm claims real estate law firm Akerman LLP botched the drafting of a lease agreement that allowed a healthcare tenant to terminate seven leases and avoid paying tens of millions in termination fees. Turner Healthcare Facilities Fund filed a $45M malpractice lawsuit Monday in Miami-Dade Circuit Court against Akerman…

Miami Office Market Takes Step Back As Demand Wanes

After 2025 started with the best quarter for Miami office leasing since 2023, the market didn’t sustain that momentum. The slowdown is a return to the slower demand that made 2024 a sluggish leasing year. The wave of corporate migration that happened during the pandemic has continued to ebb, office brokers and analysts said. “National relocations to South Florida…”

Class A Properties Drive 10% Office Rent Growth in Miami

Office rents are experiencing explosive growth in Miami. A second quarter report from CBRE found that the prices in the market rose by 9.7 percent year-over-year to $64.36 per square foot. This marks the third consecutive quarter where rents have increased by roughly $5 per square foot. “In terms of rent growth Airport/Doral stood out with Class A rates rising 1,150 bps…”

MIA and PortMiami generate $242.8 billion in economic impact

Miami-Dade County Mayor Daniella Levine Cava announced Friday that Miami International Airport and PortMiami broke records in revenue, collecting more than $242 billion and supporting nearly 1.2 million jobs. The announcement was made at the annual State of the Ports luncheon, hosted by the World Trade Center Miami and attended by more than 500 business…

Back to work: New office space embraced in Coconut Grove

When Rebeka Ramos read the new lease terms for her company’s offices in Coconut Grove, she was outraged by what she called an “astronomical” rent increase. “Overnight, the rate went from $42 to $75 a square foot – up roughly 79%,” she said. The new terms for the office space near Oak Avenue and Mary Street, proposed last year, not only angered Ramos, but surprised her, too.

Miami Developer Esteban Merlo Transforms Urban Landscapes Through Strategic Real Estate Innovation

Esteban Eduardo Merlo Hidalgo, CEO of Esteban Merlo Development & Consulting, is a Miami-based real estate developer whose international career has positioned him as a leading figure in urban innovation, sustainability, and strategic development. His approach goes beyond construction–he is redefining how cities evolve.

Financing Secured for ‘the Residences at Beverly Park’ at 6017 Washington Street in Hollywood

NuRock Co. is one step closer to completing the Residences at Beverly Park, an affordable housing development in Hollywood, Florida. The 10-story venture is set to comprise 115 apartments: 16 one-bedroom units, 69 two-bedroom units, and 30 three-bedroom units. According to the South Florida Business Journal, the residences will span 650 to 1,023 square feet.

Memorial Regional Hospital Moves Forward with $670 Million Expansion in Hollywood

Memorial Regional Hospital in Hollywood, Florida is moving forward with a major $670 million expansion centered on the construction of a new Surgical and Patient Bed Tower. The development is designed to enhance patient care, accommodate growing demand, and expand the hospital’s capacity with the addition of 150 acuity-adaptable beds….

Longpoint picks up grocery-anchored shopping center in Miramar for $34M

Boston-based firm added Miramar Parkway Plaza to its South Florida portfolio Longpoint dropped $34 million for a grocery-anchored shopping center in Miramar. An affiliate of Boston-based Longpoint, led by Dwight Angelini, acquired Miramar Parkway Plaza, a 167,840-square-foot retail complex anchored by Presidente Supermarket, at 3176 South University Drive…

Moderno Refis Rivr Lofts Luxury High-Rise in Fort Lauderdale

Moderno Development Group has closed on a $117 million three-year, floating-rate refinancing loan for Rivr Lofts, its newly completed 352-unit luxury high-rise in downtown Fort Lauderdale, Fla. The loan was arranged by JLL Capital Markets. The 29-story Class A multifamily property is located at 307 SW 5th St. in Fort Lauderdale’s Tarpon River Entertainment & Design District.

Group P6 and Mill Creek score approval for 306-unit multifamily project in Boca Raton

Construction of the 12-story building is expected to start in January Mill Creek Residential’s William C. MacDonald and Group P6’s Ignacio Diaz with a rendering of the Modera Boca project (Getty, Mill Creek Residential, Group P6, Corwil Architects) Group P6 and Mill Creek Residential scored final approval for a 306-unit apartment building in downtown Boca Raton…

‘Alexan Boca’ Proposed for 790 Park of Commerce Boulevard in Boca Raton

A Boca Raton-based developer hopes to move forward with a multi-family development in its namesake city. Alexan Boca would span 293,182 square feet of new construction, measuring seven stories above grade. The project would feature 298 one-bedroom to three-bedroom apartments, with the average residence measuring about 985 square feet.

Judge approves Grant Cardone, Penn-Florida $235M 101 Via Mizner purchase

JV may convert 366-unit Boca Raton multifamily project into condos Grant Cardone, a crowdfunding multifamily syndicator, is one step closer to getting into the condo selling business. On Thursday, U.S. Bankruptcy Judge Erik P. Kimball approved the $235 million sale of 101 Via Mizner in Boca Raton to a joint venture between the current owner, Penn-Florida Companies…

Kolter plans 386-unit Live Local multifamily project in Delray Beach

Kolter Group CEO Bobby Julien with renderings of Alton Delray (Getty, Kolter Group) Kolter Group is seeking streamlined approval of Alton Delray, a 386-unit multifamily development with a workforce housing component, under the state’s Live Local Act. Kolter, led by CEO Bobby Julien, plans to charge below-market rents for 154 workforce housing units…

Townhome Development ‘Hibiscus Gardens’ Proposed for 6295 S Military Trail in Greenacres

A South Florida-based developer hopes to get approval for a for-sale townhome complex in Palm Beach County. Hibiscus Gardens would comprise 48 townhomes in nine buildings. The venture would offer 100 parking spots (averaging to about two per unit) and feature five workforce housing units. According to Palm Beach County records, workforce housing is defined…

O’Connor Capital expands Palm Beach County portfolio with $29M shopping center purchase

New York-based firm bought Delray Corner, anchored by CVS O’Connor Capital Partners boosted its Palm Beach County portfolio, paying $28.8 million for a Delray Beach shopping center anchored by Michael’s and a CVS store on an outparcel. An affiliate of New York-based O’Connor Capital, led by CEO Bill O’Connor, acquired Delray Corner at 14802 South Military Trail…

Distribution of Sales Prices Nationally of Big Box Drugstore Property Sales

Distribution of sales prices of 10-20k sf drugstores for single tenancy, USA, year ending 7/15/25. Data courtesy of CoStar Group. The question of market value arises with single tenant big box drugstore properties, particularly where the property is vacant or soon to be vacant. To get at this, we first queried Costar for sales in the prior year for the entire USA of 10-20k sf…

Navigating interest rate uncertainty

The Federal Open Market Committee (FOMC) kept the target range for the federal funds rate at 4.25% to 4.50% at its June meeting. Rates have held steady in 2025, following 100 basis points of rate cuts 2024 and a series of rate hikes in 2022 and 2023. “Interest rates have experienced some volatility year to date, as expectations for growth and inflation have shifted a few…

Beige Book: Southeast Economy Little Changed amid Uncertainty

Generally speaking, the economy of the Southeast from mid-May through June continued in a holding pattern amid ongoing uncertainty, according to the new Beige Book report from the Federal Reserve Bank of Atlanta. The Federal Reserve has a dual mandate established by Congress to foster price stability and maximum employment. The situation on the price stability side…

Updated Forecast Amid Declining Supply and Increasing Economic Uncertainty

The 2nd quarter 2025 brought a fresh round of uncertainty to the U.S. economy, largely driven by external developments. In early April, the administration announced a series of reciprocal tariffs on several major trading partners. The move triggered a sharp selloff in equity markets and added new pressure on an already cautious Federal Reserve. While Chair Jerome Powell…

Real Estate Investment In The Era Of Trade, Tariff Changes: Challenges And Opportunities

New tariffs are influencing global real estate investment strategies as investors reevaluate their capital deployment across different locations. The growing protectionist nature of trade policies and their reduced predictability now affect areas extending well beyond traditional manufacturing and shipping zones. Investors must understand that real estate asset demand patterns…

Video: Inside the Estate Battle of the Late Jimmy Buffett; A Lesson on Wealth Transition for CRE Owners and Otherwise

“Wastin’ away again in” Litigataville… The world of Margaritaville, an empire built on the sunny, laid-back ethos of the late Jimmy Buffett, has recently been clouded by an intensifying legal battle over his estimated $275 million estate. The dispute is between the iconic singer’s widow, Jane Buffett, and his longtime accountant, Rick Mozenter, who serve as co-trustees of the marital trust.

JP Morgan 2025 commercial real estate midyear outlook

A lot has changed for commercial real estate since the beginning of the year. One thing remains the same: economic uncertainty. “By some measures, there’s more uncertainty today than at any point in the last three to four decades,” said Victor Calanog, global head of research and strategy, Real Estate Private Markets at Manulife Investment Management.

Is your city a winner or loser in the return-to-office race? Capital Economics breaks it down

We’ve gradually seen more people return to the office since the remote-work norm of the pandemic, and now the winning and losing cities are becoming clearer. Capital Economics tackled the issue of commercial real estate in its U.S. Office Metros Outlook and found that 2025 will bring further pain for office values across all major metros, but a sharp regional divide is set…

Video: How a Hong Kong Dynasty Was Hit by China’s Property Crisis

In the heart of Hong Kong’s bustling cityscape, an ancient Chinese proverb, 富不過三代, whispers a warning that wealth does not pass beyond three generations. An enduring testament to this cautionary tale can be seen in the current trials and tribulations of one of Hong Kong’s four dominant property dynasties, New World Development. In the throes of a looming crisis…

US Office market continues heating up as deals hit $40B 

US market trending positively as vacancy drops for fourth straight quarter (Photo Illustration by Steven Dilakian for The Real Deal with Getty) The U.S. office market posted its fourth consecutive quarterly decline in vacancy rates, signaling strong recovery momentum. Vacancy fell to 23.2 percent in the second quarter, dropping 15 basis points from the prior quarter…

Florida Sales Tax on Commercial Leases Eliminated Effective October 1st

Starting October 1, 2025, Florida will eliminate the sales tax on commercial real estate leases, marking a significant change for landlords and tenants alike. This repeal applies not only to the state-level sales tax but also to the local discretionary surtaxes that have historically added up to 1.5% in many counties. With this move, Florida becomes the only state in the nation…

Joint Venture Submits Sole Proposal for $10 Billion Miami MetroCenter Redevelopment Plan

A joint venture between Merrimac Ventures, Related Urban, and 13th Floor Investments has submitted the sole proposal for the redevelopment of MetroCenter in Downtown Miami. The plan calls for the transformation of 17 acres surrounding the Stephen P. Clark Government Center into a dynamic, transit-oriented district. According to county records…

Codina scores $100M construction loan for 412-unit multifamily project in Downtown Doral

Codina Partners landed a $100 million construction loan for a 412-unit multifamily project at its Downtown Doral mixed-use development. The firm, led by father-daughter duo Armando Codina and Ana-Marie Codina, started building the seven-story Sevilla building on a 4.2-acre site on the corner of Northwest 53rd Street and Northwest 52nd Terrace in Doral, according to the developer’s…

“Financial sabotage”: Dan Kodsi’s Legacy Miami Worldcenter tied up in foreclosure, countersuit

Future of 50-story mixed-use condo and hotel tower under construction hangs in the balance Developer Dan Kodsi’s Royal Palm Companies filed a counterclaim to its lender’s foreclosure lawsuit, tied to the stalled Legacy Hotel & Residences project at Miami Worldcenter. Legacy Lender Holdings LLC last week sued affiliates of Kodsi’s Miami-based Royal Palm Companies…

Miami Beach’s Sixty Sixty Resort faces $21M foreclosure 

Lender alleges waterfront condo-hotel owner defaulted on 2023 loan Three years after buying Sixty Sixty Resort in Miami Beach, the owners could lose the 82-key waterfront condo-hotel to foreclosure. On June 27, De Paz Family Investment sued Bloom Hotels 6060 — which owns all the units at the 15-story building at 6060 Indian Creek Drive — as well as the property’s condo association…

VDA lands $31M construction loan for Artefacto-branded Bay Harbor condos 

74% of units at waterfront seven-story, 27-unit project are presold Chilean developer VDA Origin | Miami landed a $30.5 million construction loan for a planned Artefacto-branded condo project in Bay Harbor Islands. Mauricio Moya and Sergio Guzmán’s VDA scored the financing from Joshua Crane and Robert Schwartz’s New York City-based S3 Capital…

Developer scales down Goulds Village Center to 300 market-rate apartments 

Last year, Lockhart Management Group scored approval for 342 units A developer wants to scale down its planned Goulds Village Center project to 300 units. Lockhart Management Group, which primarily has built self-storage facilities across Florida, plans the market-rate complex with a pair of five-story buildings on a 3.7-acre site between U.S. 1 and the South Dade Busway…

These projects will bring more density to Miami’s Little Haiti and Little River

A handful of developments will add more than 10K apartments and more than 1M sf of commercial space Miami’s Little Haiti and Little River are where generations of working class immigrants, predominantly from Haiti, have planted roots and seasoned the area with Caribbean flavor. A stretch on Northeast Second Avenue between 54th Street and 71st Street is like…

FAA Gives Approval For 1,046′ Height Of Citadel Supertall Tower In Brickell

Citadel’s planned Brickell supertall headquarters tower just gained a key approval from the Federal Aviation Administration. The agency issued a determination on July 3 stating that the proposal would not be a hazard to air navigation. The application had been filed with the FAA on October 24, 2024, so it took over 8 months to receive the approval letter.

Thousands Of Employees: Carnival Corp. Files Plans For Global HQ In Miami

Carnival Corporation filed preliminary plans yesterday for a new global headquarters complex in Miami. The company announced earlier this year that the new headquarters office would be used to consolidate employees currently dispersed throughout other locations and regions, as well as those an existing Doral office. It is being designed for an initial 2,000 employees…

New Brickell Public Library Moves To Study Phase

Miami-Dade is moving forward with exploring building a public library in Brickell. County Commissioners voted unanimously last month to study various possibilities for the new branch, which would expand Miami-Dade Public Library System’s 50 library locations. The goal is to establish a library that is around 8,500 square feet. There are four possible options that will be studied…

Miami Beach floats plan for ferry service crossing Biscayne

Miami Beach is powering toward a water taxi service connecting the island to the mainland. In June, commissioners unanimously approved authorizing the city administration to negotiate with Water Taxi of Fort Lauderdale LLC, the top-ranked water-taxi service proposer to respond to a city request. As noted in the commission memo accompanying the legislation…

New player enters Miami Seaquarium bankruptcy case

The Miami-Dade commissioner whose district includes the Miami Seaquarium has been delegated to negotiate with those now controlling the county-owned site on the bidding, auction and bankruptcy procedures for disposing of the attraction. “I can practice in bankruptcy court and I have an expertise in valuation,” Raquel Regalado told commissioners, who unanimously backed…

Codina Partners Breaks Ground on Sevilla at Downtown Doral, Secures $100 Million Construction Loan

Codina Partners has officially broken ground on Sevilla, a seven-story, 412-unit mid-rise residential tower located in the heart of Downtown Doral. The project marks the latest addition to the 250-acre master-planned community and is positioned to meet growing demand for upscale, amenity-rich living in one of Miami-Dade County’s fastest-growing submarkets….

Four-Story, 30-Unit Apartment Complex Proposed for 16905 SW 100th Avenue in Southern Miami-Dade

Doral-based TLC South Dade LLC hopes to get approval for a low-rise residential building in southern Miami-Dade County. The unnamed venture would measure four stories above grade and feature 30 apartments. Layout plans would include studio, one-bedroom, and two-bedroom apartments, and residency would be reserved for tenants earning up to 120 percent of the area…

Related Proposes 700 New Apartments in South Miami Near Metrorail Station

Related Urban Development Group is proposing to build a transit-oriented apartment complex in South Miami. The Property is owned by the Miami-Dade County Department of Housing and Community Development, and was awarded to Related to redevelop. In 2024, Related completed construction on Residences at SoMi Parc, a mixed-use development with 172 units on a portion of the site.

Permit For Midtown Miami’s Tallest Building Now In Process

A construction permit to build the tallest building in Midtown Miami ins now officially in the review process. The building permit application for the new tower was submitted on May 2. It completed pre-screening and entered review on June 26. The Jean-Georges Miami Tropic Residences building is planned to rise 48 stories, or 606 feet above ground. Existing buildings in Midtown…

Uber Doubling Miami Office Space In Blackstone-Owned Building

Uber has signed a deal to expand its Miami office, a sign that the area is still attracting new investment from technology companies. The deal doubles the footprint Uber has at the building, at 161 NW Sixth Street, after it signed a 13K SF lease in August 2021. Blackstone purchased the 2 and 3 MiamiCentral office buildings for $230M in 2021. “We’re excited to be expanding our footprint…”

Rental Flexibility Green Light For Planned 70-Story Brickell Tower `Calle 8`

Miami-Dade has issued a Zoning Verification Letter that appears to allow flexible rentals at the 70-story Calle 8 tower planned in Brickell. The June 9 letter was issued in response to a Zoning Verification Request filed by representatives of the developer. A professionally managed operation will oversee the leasing, according to the original letter sent to the county.

1600 Edgewater Advances To Site Work Permit After FAA, UDRB Approval

Plans for a 33-story tower known as 1600 Edgewater are advancing with a new site work permit filing. The site work permit application was submitted on June 2, with GT McDonald listed as the contractor. The permit is not yet in review. A total demolition permit to clear the site is also in process, as is a master construction permit for the new tower. The FAA issued approval for the height…

‘Chocolate Girl’ Sculpture Proposed To Be Placed In Brickell, Valued At $500k

A bronze sculpture by Ignacio Gana may soon be placed in a prominent location in Brickell. Gana is a Miami-based artist who was born in Chile. He has proposed to temporarily place a sculpture titled “Chocolate Girl” on city-owned property on Brickell Avenue. The sculpture would be installed for up to a year at Mary Brickell Park, located at 501 Brickell Avenue.

Archaeologists Discover Artifacts Up To 3,500 Years Old at 1809 Brickell Ave Development Site

More remnants of ancient settlement have been discovered in Brickell, according to the Herald. The report said the remains were discovered at 1809 Brickell Avenue, where the luxury St. Regis condo tower is now under construction. The buried findings include refuse and other artifacts that are up to 3,500 years old, along with ancient human remains. A 17-story building previously…

Photos: One Bayfront Plaza Demolition Site In July

Photos by Phillip Pessar show the One Bayfront Plaza demolition site in downtown Miami. A 19-story building and an attached garage and retail complex are being demolished. The building is around 67 years old. Demolition began in 2023. There are plans for a supertall, landmark 1,049-foot tower on the site.

Developers Acquire Miami Beach Club for $131 Million, Plan Branded Condominium Tower

A joint venture between Related Group, BH Group, and Dezer Development has finalized the $131 million acquisition of the Miami Beach Club, an aging oceanfront condominium property at 19051 Collins Avenue in Sunny Isles Beach, Florida. The development team plans to redevelop the site into a new 150-unit branded luxury condominium tower, which could rise as high…

$295 Million Mixed-Use Project Proposed for 7200 NW 22nd Avenue in Miami

The Miami-Dade Housing Committee intends to review plans for a three-phase, mixed-use development next week. SG Poinciana Ventures LLC has proposed a project that would offer both residential and industrial aspects. The first phase is planned to offer 155 housing units, available to seniors earning up to 60 percent of the area median income (AMI).

BSD Capital planning Davie mixed-use project after buying dev site for $16M

Hollywood-based firm plans The Core Residences, with 744 apartments, 51K sf of retail and 29K sf of office BSD Capital is planning a two-tower, mixed-use project on a Davie development site the firm acquired for $16 million. An affiliate of Hollywood-based BSD Capital, led by co-CEOs Guy Levintin and Sharon Sharaby, acquired a 4.8-acre property with a 41,000-square-foot office…

Granite Pays $36M for Coral Springs Industrial Campus

Exclusive Trim and Marc Refrigeration occupy the entire two-building campus. Image courtesy of JLL Granite REIT has purchased a 124,500-square-foot industrial campus in Coral Springs, Fla. The asset traded for $36.4 million, according to Broward County public records. The joint venture of Barings Real Estate and Arkadia Property Group was the seller.

Granite REIT picks up Coral Springs industrial complex for $36M

Barings and Arkadia sold two fully leased warehouses on 7 acres Granite REIT CEO Kevan Gorrie, Barings CEO Mike Freno and Arkadia Chairman Richard Kilstock with the Coral Springs Logistics Center at 3850-3872 Northwest 126th Avenue in Coral Springs (Getty, JLL, Granite, Barings, LinkedIn, Arkadia) Granite REIT is the latest institutional out-of-towner to dip…

T2 Hospitality pays $37M for 163-key oceanfront hotel in Lauderdale-By-The-Sea

T2 Hospitality CEO Mike Patel with the Plunge Beach Resort Hotel at 4640-4644 and 4660 El Mar Drive in Lauderdale-By-The-Sea (Getty, T2 Hospitality, Google Maps) T2 Hospitality bought a 163-key oceanfront hotel in Lauderdale-By-The-Sea for $36.6 million. The Newport Beach, California-based firm purchased Plunge Beach Resort Hotel from an entity managed by…

Construction Ends on ‘Mount Hermon Apartments’ at 750 NW 4th Street in Fort Lauderdale

Construction has concluded on an affordable housing development for seniors in Fort Lauderdale. Mount Hermon Apartments comprises 104 units, ranging from one-bedroom to two-bedroom layout plans. Residency is reserved for seniors 62 and older who earn at or below 25 percent of the area median income (AMI) and 60 percent of the AMI. According to ConnectCRE…

South Florida shopping center spree continues with $18M Broward sale

North Miami-based investors acquired Davie Square and Denny’s outparcel Investors can’t get enough of South Florida shopping centers these days. The latest deal features SouthEast Properties selling a Davie retail plaza it developed more than a quarter of a century ago for $17.8 million. An affiliate of Deerfield Beach-based SouthEast, led by Jay Geiserman, sold Davie Square…

Investor buys shopping plaza, self-storage in Pembroke Pines for $16M  

Andrew Perkins has been scooping up South Florida retail since at least 2022 Commercial real estate investor Andrew Perkins bought a shopping plaza and self-storage property in Pembroke Pines for $15.5 million. Perkins Realty Management purchased the 64,300-square-foot Sheridan Village Center at 16602-16660 Sheridan Street, according to the broker’s news release.

Longpoint sells Broward County industrial portfolio for $70M

Boston-based firm sold nine warehouses for nearly $19M above previous sale price in 2021 Longpoint sold a Broward County warehouse portfolio for $69.9 million, roughly $19 million more than the previous sale price four years ago. In the largest of three separate deals, an affiliate of Newport Beach, California-based MIG Real Estate paid $29.9 million for a 124,227-square-foot…

New York developers plan 75-key boutique hotel in Fort Lauderdale Beach

A New York City-based development team plans to build 42 Hotel, a 15-story, 75-key hotel in Fort Lauderdale Beach. The developers, who won site-plan approval for the boutique hotel development on Monday, expect to open 42 Hotel in 2027. The aim is to attract mostly leisure travelers, and charge them more than $400 a night, they said. The developers said they plan to start clearing…

Grant Cardone, Penn-Florida team up for possible 101 Via Mizner condo conversion in Boca Raton

JV plans to buy 366-unit Boca Raton multifamily project out of bankruptcy for $235M Grant Cardone and Penn-Florida Companies are teaming up to possibly convert the distressed 101 Via Mizner multifamily project in Boca Raton into condos. At a Thursday hearing, U.S. Bankruptcy Judge Peter Russin will consider a motion by the Penn-Florida entity that owns the 14-story…

Venture X Opens Boca Raton Coworking Location

The 30,000-square-foot flex office at Palmetto Central Campus features reception services and a community lounge area. Image courtesy of Grover Corlew Flex office provider Venture X has opened its newest coworking location at Grover Corlew’s Palmetto Central Office Campus, located at 1489 and 1499 W. Palmetto Park Road in Boca Raton, Fla. The coworking brand will occupy 30k sf…

Construction Moves Forward on 25-Story The Berkeley Palm Beach in West Palm Beach

Construction is moving forward on The Berkeley Palm Beach, a 25-story condominium development underway at 601 and 621 Clearwater Park Road, facing Clear Lake in West Palm Beach. The tower is being developed by Australian Property Group, led by Al Adelson, in partnership with Sympatico Real Estate. Adelson previously led the development of The Bristol…

Lease roundup: Steve Ross’ CityPlace in West Palm Beach lands Reformation, Alo, Bluemercury

Also, a Florentine sandwich shop and a pizza restaurant are on tap for South Beach’s Lincoln Road Related Ross’ Steve Ross with the CityPlace retail complex at 700 South Rosemary Avenue in downtown West Palm Beach (Getty, CityPlace, Google Maps) Billionaire Steve Ross’ CityPlace mixed-use complex in downtown West Palm Beach scored more than 125,000 square feet…

Margaritaville hotel may still come to Riviera Beach

Proposal will compete with rival bids from Related Group, Forrest Development Roughly a year after an attempt to build a Margaritaville hotel fell apart amid allegations of fraud, a developer has again proposed to construct the resort at Riviera Beach’s Marina Village. Robert Sonnenblick, chairman of Pacific Palisades, California-based, confirmed he is among four development teams…

Industrial Construction Hits Decade Low Nationally Amid Tariff Pressures

Analysts point to new tariffs imposed by the Trump administration as a key factor weighing on industrial development. This slowdown could undermine earlier expectations of a strong rebound in 2026. New industrial starts in 2025 may sink to their lowest level this decade, having totaled just 86.9 million square feet this year through May, according to…

Video: RealPage Chief Economist Carl Whitaker Provides Multifamily Market Outlook for 2026 & Beyond

America’s Commercial Real Estate Show recently delved into the multifamily market, a sector that continues to generate significant interest among investors. In this episode, the show host engaged in a fascinating conversation with Carl Whitaker, Chief Economist with RealPage. The episode kicked off with a reference to the upcoming 2025 C5 Plus CCIM Global Summit…

New bill proposes legal path for 900,000 undocumented construction workers

The construction industry keeps adding jobs in South Florida despite a skilled labor shortage in the region. The CEO of the Hispanic Construction Council, George Carrillo, leads a national nonprofit focused on addressing construction workforce gaps. He said that a large portion of the workers are from other countries. “When we think about the other critical component…

A Double Whammy for the Office Sector Nationally

Highlights: The U.S. office vacancy rate reached another all-time high in the second quarter of 2025 at 20.7%. Similarly, the office-backed CMBS conduit delinquency rate was at an all-time high of 14.26% in June 2025. Although 2024 reported the sharpest annual increase in the office-backed CMBS delinquency rate, concerningly, the first six months of 2025 reflected the fastest…

Commercial property pros focus on incentives in sweeping federal tax and funding law

Commercial real estate professionals expect the sweeping $4.5 trillion federal tax and funding bill signed into law by President Donald Trump to have some positive effects on the property industry. The measure signed into law over the holiday weekend expands tax breaks that executives said could boost investments in new affordable housing and provide more opportunities…

Apartment Development in Opportunity Zones May Matter for Inflation

Legislation introduced during the first Trump administration sought to incentivize investment in low-income areas of the U.S. through tax benefits. One measurable result was a surge in apartment development within these Opportunity Zones (OZs). A shift in housing-supply dynamics draws attention since housing costs influence inflation. Historically, higher-income census tracts…

Swire sells majority stake in Brickell City Centre retail to Simon for $512M

Deal breaks down to $1K psf for open-air shopping center anchored by Saks Fifth Avenue Swire Properties cashed out of the retail and parking components of Brickell City Centre in a $512 million deal with Simon Property Group. Simon, an Indianapolis-based shopping center-focused real estate firm led by David Simon, bought Swire’s majority 75 percent stake in the 500k sf…

Simon Acquires Majority Interest of Shops at Brickell City Centre in Downtown Miami for $512M

Indianapolis-based mall giant Simon Property Group has acquired the remaining interest of the retail and parking component at Brickell City Centre, a 5.4 million-square-foot mixed-use development in downtown Miami. Swire Properties Inc. sold the majority 75 percent stake in the property’s 500,000-square-foot retail portion for $512 million, according to several media outlets.

Brickell City Centre Shopping Mall & Parking Garage Sold

The shopping mall and a parking garage at Brickell City Centre has been purchased by publicly traded Simon Property Group. Simon previously owned a 25% stake in the shopping mall component of Brickell City Centre, and now owns 100% of the mall and the main public garage. The company is paying up to $548,725,001 for the stakes, with $512,625,001 paid at closing…

Simon Pays $512M for Remaining Stake in Downtown Miami Mall `Brickell City Centre`

Completed in 2016, the Brickell City Centre mall consists of four-story buildings across three city blocks. Image courtesy of Yardi research data Simon Property Group Inc. has acquired the remaining interest in the 500,000-square-foot retail and parking component of Brickell City Centre in Miami. Swire Properties Inc. sold the majority 75 percent stake in the property…

Simon Acquires Full Ownership of Brickell City Centre Retail and Parking from Swire Properties for $512 Million

Swire Properties Inc. has announced the sale of its interest in the retail and parking components of Brickell City Centre to Simon, a real estate investment trust specializing in premier shopping, dining, entertainment, and mixed-use destinations. The transaction is valued at approximately $512 million. The deal marks the conclusion of a decade-long partnership…

“In Miami’s favor”: Mamdani’s New York win a boon for South Florida, industry says

“This may be the proverbial straw that breaks the camel’s back” As fears grip New York’s real estate industry following Zohran Mamdani’s primary mayoral race win, the feeling is far more upbeat in South Florida. The industry here is gushing over the prospect of an influx of New York investors and high net worth individuals, prompting a second residential and commercial…

Winners and losers emerge in South Florida’s condo boom

Oversupply, cost issues hitting some developers as aging condo market falters If you want to know if the South Florida housing market is doing okay, a Magic 8 Ball might give you as clear an answer as a panel of local industry experts. “Without a doubt,” you’ll see one minute. “As I see it, yes.” “Reply hazy, try again,” comes next. Then: “Don’t count on it.” It gets worse.

The Closing: Jon Paul Pérez

Related Group CEO and son of Jorge Pérez on succession, working with family and state of Miami’s condo market Jon Paul Pérez assumed that he would start working at his father’s company, the Related Group, shortly after graduating from college. It made sense. He spent summers interning at Related, and though he got good grades, he also enjoyed himself.

Macklowe sells multifamily dev site near Dadeland Mall at discount to Related for $20M

New York developer had paid $32M for 1.6-acre property in 2022, planned a 770-unit project Harry Macklowe and Related Group’s Jorge Pérez with the site at 8609 Southwest 72nd Avenue in Miami-Dade County and a rendering of the previously planned project at that site (Getty, Macklowe Properties, Arquitectonica, Google Maps) Harry Macklowe sold a development site…

DOGE slashes nearly 217K sf of government leases across Florida

Roughly one-third of cuts occurred in Miami-Dade and Broward counties, according to Avison Young The DOGE slashathon has led to the cancellation of nearly 217,000 square feet of federal government leases in Florida, with slightly more than a third of terminations occurring in Miami-Dade and Broward counties. As a result, Florida ranks as the state with the seventh highest…

Billionaire developer Steve Ross buying nearly half of Miami Open 

85-year-old also has controlling stakes in Miami Dolphins and Formula One Miami Billionaire Steve Ross is buying a stake in the Miami Open, marking the real estate mogul’s continued investment in South Florida sports. The 85-year-old is nearing a deal for a 45 percent ownership of the tennis tournament, according to Front Office Sports, a publication focused…

Related, Dezer and BH complete Sunny Isles buyout for planned condo tower

Developers’ 100-unit acquisition of oceanfront teardown is valued at $132M A trio of real estate heavyweights closed on the remaining units at an aging condo complex in Sunny Isles Beach for $131.8 million, after more than a decade in the making. The Pérez family’s Related Group, Gil Dezer’s Dezer Development and Isaac and Liat Toledano’s BH Group completed the bulk…

Ex-basketball player Raanan Katz keeps growing his South Florida retail empire

Miami Heat minority owner controls shopping centers from Sunny Isles Beach to New England Raanan Katz loves basketball and shopping centers. But the 89-year-old Israeli-born retail investor is no longer NBA material. Instead, up and down Collins Avenue in Sunny Isles Beach, his logo’s basketball swishes through a 2-D net on the facades of multiple RK Centers…

Michael Stern’s JDS wins final OK on upzoning for South Beach high-rise

Residents were split on the height increase for the bayfront property next to Monad Terrace Developer Michael Stern’s JDS Development Group notched a major win with the upzoning of a property in South Beach, where he plans a bayfront luxury condo tower next to the Monad Terrace project he built. Miami Beach commissioners on Friday granted final approval…

Miami Beach commission grants final approval to Meruelos and David Martin for oceanfront Deauville project

Martin joined as a 25% partner last year; plans are for a luxury condo, hotel David Martin and Richard Meruelo with a rendering of the planned project at the Deauville Beach Resort property along with the original Deauville Beach Resort in Miami Beach (Getty, Terra, Google Maps) Miami Beach commissioners granted final approvals to the Meruelo family and David Martin…

Deauville Redevelopment With New Foster + Partners Tower Gets Commission Approval

The Miami Beach City Commission has granted final approval to a redevelopment of the Deauville by developer Terra. The plan includes a new residential tower designed by Foster + Partners. It also includes a partial reconstruction of the Deauville Hotel’s historic pedestal and a new reinterpreted tower (the Deauville has already been demolished).

Miami Beach City Commission Grants Final Approval to Terra’s Redevelopment of the Historic Deauville Hotel Site

On Friday, June 27, the Miami Beach City Commission granted final approval to Terra’s redevelopment plans for the historic Deauville Beach Resort site at 6701 Collins Avenue in North Beach. The vote concludes the required development agreement and land-use approvals, clearing the way for a transformative project that includes a new residential tower designed…

Garden Healthcare expands into South Florida with $24M Cutler Bay retirement home purchase

Columbus, Ohio-based firm bought 403-unit complex in Cutler Bay Garden Healthcare’s Barry Braunstein and East Ridge at Cutler Bay at 19301 SW 87th Avenue. Out-of-state retirement home operator Garden Healthcare took its first dip into South Florida, acquiring a Miami-Dade County facility for $24 million. Two affiliates of Columbus, Ohio-based Garden Healthcare…

Miami residents cry foul over expansion of transit-oriented zoning

Commissioners approved the ordinance on first reading with changes Miami residents spoke against a citywide expansion of transit-oriented zoning incentives at Thursday’s commission meeting, with one member of the public calling it an example of “another money-motivated manipulation at Miami City Hall.” Commissioners voted on first reading to approve the ordinance…

Developer proposes 108-unit multifamily redevelopment of north Miami-Dade retail center

Five-story building planned for Palm Springs North neighborhood A developer proposes a 108-unit multifamily project at a shopping plaza in north Miami-Dade County. Adell Investments, led by Jorge and Julio Quintana, proposes the five-story HUB Palm Springs North building on the 3.1-acre lot at 17601 and 17775 Northwest 78th Avenue and 7750 Northwest 178th Street…

Investor loses civil case to recoup $1M for development of Miami Beach condo project

Miami-Dade judge ruled lead equity partner Dhruv Piplani did not mislead Hang Bae Lee about potential returns on his investment for Three Hundred Collins JMH Development’s Jason Halpern and Three Hundred Collins at 300 Collins Avenue (Getty, JMH Development, Google Maps) An investor lost a civil case seeking to recoup his $1 million loss from the development…

Russell and Marisa Galbut’s GFO lands $54M loan to build Miami Beach Whole Foods

Firm acquired Wells Fargo redevelopment site for $15M Russell and Marisa Galbut’s GFO Investments scored a $54 million construction loan to build a new Whole Foods-anchored retail building in Miami Beach. Miami-based Ocean Bank provided the financing, records and real estate database Vizzda show. An affiliate of Miami-based GFO paid $15 million…

Pitbull’s charter school could buy historic Olympia Theater from city of Miami in no-bid deal

Commission to vote on sale of downtown property at Thursday’s meeting Update: Miami commissioners voted on Thursday to defer the resolution to potentially sell the Olympia Theater located at 174 E Flagler to its July 24 meeting. City of Miami commissioners will vote on a resolution to sell the historic Olympia Theater in downtown Miami to rapper Pitbull’s charter school nonprofit.

City sale of Olympia Theater gets go-slow

Miami city officials are holding off on a proposal to transfer ownership of the historic Olympia Theater to a charter school operator following pushback over a lack of public input and transparency. During last week’s meeting, the Miami City Commission unanimously agreed to defer voting on the purchase and sale agreement to July 24. Meanwhile, city staff will host public meetings…

Blackstone’s South Florida industrial sell-off hits $1B

New York investment giant and Link subsidiary sold Opa-locka dev site for $106M to TA Realty Blackstone and Link Logistics sold another South Florida industrial property — to surpass the $1 billion mark in six separate deals since November. The sales are likely the result of the two firms seeking to cash out investors who backed funds used for the acquisition and renovation…

New Construction Permit Application Filed For 78-Story Ora By Casa Tua In Brickell

A new construction permit application has been filed for Ora by Casa Tua, a planned 78-story mixed-use tower at 1210 Brickell Avenue in Miami’s Brickell neighborhood. The filing was submitted to the City of Miami’s Building Department on June 19 by Fortune International Group, which acquired the development site in 2024. The permit, with an alternative address 1205 Brickell Plaza…

Brickell House Rooftop Commercial Condo Units Headed To Bankruptcy Auction

A company linked to Venezuelan banker Eligio Cedeño is selling its three rooftop commercial condos at Brickell House via a court-approved bankruptcy auction. Ectul Holdings LLC received approval for the auction after filing for Chapter 11 bankruptcy to avoid the units’ foreclosure in March. The auction is scheduled for July 31, the South Florida Business Journal reported.

Miami’s Rise to a Global Wealth Capital Fuels Multifamily Momentum

This year marks the centennial of several Miami municipalities, including Coral Gables and Hialeah, placing Miami-Dade County in a unique position: looking back on a rich history as a sunseeker’s playground, while charging full speed into a future where it is also a tech hub and financial powerhouse, with some dubbing the city as “Wall Street South.”

Second Phase of ‘the Gallery at SoMi Parc’ Proposed for 5949 S.W. 68th Street in South Miami

An affiliate of the Related Urban Development Group intends to move forward with the second phase of the Gallery at SoMi Parc, a mixed-income development in South Florida. The first phase, which finished completion last year, hosts 172 units in seven stories. The second phase is planned to measure 11 stories and feature 390 apartments, along with 8,689 sf…

First Crane Installed At 861-Foot Luxury Condo Tower `1428 Brickell`

In Brickell, an under construction 70-story tower is getting its first crane installed. The cranes will eventually reach a height of over 1,000 feet above ground. The development is known as 1428 Brickell and will have 195 luxury residences. The condo tower is planned to have a permanent height of 861 feet above ground, making it one of the tallest in Miami.

Miami To Aventura Train Service May Have Just Been Defunded By Florida

The much-anticipated rail service planned between Miami and Aventura just lost a big chunk of funding, according to the Herald. The planned regional rail service is known as the Northeast Corridor. It is expected to have seven stops in Miami-Dade, including Downtown Miami, Wynwood and the Design District, before continuing to Aventura and Fort Lauderdale.

New Florida budget cuts funds for Miami-Aventura commuter rail: news report

The new Florida budget signed Monday by Gov. Ron DeSantis eliminates some $200 million in state funding for the proposed Miami-Aventura commuter rail project, the Miami Herald reports. The state money, along with Miami-Dade County funding, was intended to match $389.5 million in federal funds for the 14-mile, seven-station service planned…

Developers Propose 43-Story Towers `Harbor Village’ in North Bay Village

Plans have been filed for two 43-story towers in North Bay Village, in a development named Harbor Village. The towers appear to both exceed 500 feet in height in the filings. That is taller than any other building in North Bay Village. Harbor Village is planned to include a combined: 364 extra large luxury condos (average unit size of 2,148 square feet) around 100k gsf…

Restoration of Coral Gables City Hall on way

Coral Gables City Hall restoration design efforts are now going to be completed in one continuous phase. City commissioners voted Tuesday to move forward with one long phase to start seeing renovation results at City Hall. Divided into two subphases, the first part includes building assessment, recommendations report, schematic drawings, and a detailed cost estimate.

Final vote would dissolve Miami’s Bayfront Park Trust

By a 3-2 vote, the Miami City Commission advanced a proposal to dissolve the Bayfront Park Management Trust amid ongoing disputes and return control of the waterfront venue to the city. Though the resolution passed during first reading last week, it must return for a final vote on July 10. The June 26 discussion detailed long-standing personality conflicts and operational challenges…

Florida International University enrollment spurts

Florida International University continues to welcome students as enrollment rates trend upwards. “FIU is a university of first choice,” said Jody Glassman, assistant vice president for enrollment and university admissions at FIU. “I think that is definitely being seen in enrollment trends overall, which is also the national trend. Public and state universities, a lot of us, are seeing growth…

Houston-Based Barbaz Development Proposes 37-Story LLA High-Rise for 70 NW 36th Street in Miami

A Houston-based developer hopes to get approval for an affordable housing development that would replace an automotive building in Miami-Dade County. Bazbaz Development has proposed a 37-story tower that would feature 364 residential units. Of those units, 40 percent (about 145) would be designated as workforce housing for tenants earning up to 120 percent…

Resorts World Miami Files Plans With FAA For 3 Towers On Former Miami Herald Site

Resorts World Miami is again requesting Federal Aviation Administration approval to develop three towers at the former Miami Herald Property. The company submitted plans with the FAA for the three towers on June 16. The three towers are planned to rise 642, 643 and 645 feet above ground, or 649, 650 and 652 feet above sea level, the filing shows.

Site Work Permit Issued To Build Downtown Miami Tower With 714 Apartments

Miami’s Building Department has issued a site work permit that will allow a new apartment tower to move forward with construction. The permit was issued on June 10, and is for a second tower at downtown Miami’s Namdar site, where two 43-story towers are being developed. The first tower topped off late last year, and is planned to have 680 apartments.

Related Group And Macklowe Properties Plan Two 43-Story Residential Towers At 8000 East Drive In North Bay Village

Plans have been submitted for a major residential development by Related Group and Macklowe Properties in North Bay Village. The proposal encompasses the properties at 7946, 8000, 8010, and 8020 East Drive and calls for the construction of two 43-story towers designed by Arquitectonica. The project is scheduled for review by the North Bay Village Planning…

‘Uptown Aventura’ MXU Planned for 21440 Biscayne Boulevard

Our sources have revealed plans for a mixed-use development in Miami-Dade County. Uptown Aventura would feature multiple high-, mid-, and low-rise buildings, offering residential, retail, and hotel space. The South Florida Business Journal reports that Uptown Aventura would comprise 10 buildings. The tallest building will span 30 stories above grade, featuring apartments…

Developer Files Pre-Application for Mixed-Use Project at 1400 N.W. 79th St. in Miami

A mobile home park in South Florida could soon be replaced with an eight-story, mixed-use building. Consolidated Companies Group has filed the venture’s pre-application, hoping to get approval for residences and retail. The residential aspect would comprise 145 homes, with floorplans including one-bedroom and two-bedroom layouts. Square footage would range…

Okan Tower Surpasses 28th Floor on way to 902 Feet as Construction Progresses in Downtown Miami

Construction at Okan Tower continues to move steadily upward, with the reinforced concrete superstructure now rising beyond the 28th floor, placing the tower more than 40 percent of the way to its planned 70-story height. Located at 555 North Miami Avenue in Downtown Miami, the 902-foot-tall mixed-use tower is being developed by Okan Group, with design by Behar Font….

Construction Starts on Unnamed 12-Story Venture at 7737 NE 2nd Avenue in Miami

Construction has commenced on a 12-story “design-forward” development in Miami-Dade County. Florida YIMBY reported on this venture two years ago. Our report shared that the venture will comprise 191 rental units, spanning 350,000 square feet of new construction. Homes will span studio to three-bedroom layout plans. Residents will have access to a host of on-site amenities…

Construction Permit Application Submitted For 78-Story Ora By Casa Tua in Brickell

A construction permit application has been filed for the 78-story Ora by Casa Tua tower in Brickell. The filing was submitted to Miami’s Building Department on June 19. According to the filing, the new building is planned to include: 533 condo units on floors 12 through 75 58,089 square feet of office on floors 1 through 8 31,587 square feet of restaurant on floors Lobby…

Chicago Developer Breaks Ground On 191 ‘Design-Forward Rental Units’ In Little River

Chicago-based CEDARst Companies says it has broken ground on a new apartment complex in Miami’s Little River neighborhood. The development will include 191 “design-forward” rental units, 8,000 square feet of ground-floor retail, and 302 parking spaces. The retail will have 18-foot ceilings, and is being designed to activate the streetscape and enhance walkability.

Recently Opened Edgewater Apartment Tower `2000 Biscayne` Already 75% Leased

In Edgewater, the 2000 Biscayne apartment tower that opened less than a year ago has already leased hundreds of units to new residents. The 36-story tower includes 420 apartments, and most have now been leased. The joint-venture ownership of the tower, which includes Kushner Companies and PTM Partners, have now obtained $87.3 million in refinancing.

Walker & Dunlop Arranges $87.3M Refinancing for 2000 Biscayne Apartment Tower in Miami

Walker & Dunlop has arranged an $87.3 million loan for the refinancing of 2000 Biscayne, a new 36-story apartment tower in Miami. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Stepniewski, Dustin Stolly, Jordan Casella, Christopher de Raet and Stanley Cayre of Walker & Dunlop’s New York City capital markets team arranged the financing…

Kushner Cos. JV Lands $87M Refi for Miami Tower

Kushner Cos., in joint venture with PTM Partners, has secured an $87.3 million refinancing loan for 2000 Biscayne, a 420-unit residential tower in Miami. Corebridge Financial provided the loan, while Walker & Dunlop arranged the deal on behalf of the ownership. The refinancing note will retire a previous $82.5 million construction loan issued in 2022 by Valley National Bank…

$30.5 Million Construction Loan Secured For Origin Bay Harbor In Bay Harbor Islands

S3 Capital has originated a $30.5 million construction loan for Origin Bay Harbor, a boutique 27-unit luxury condominium located at 9740–9760 West Bay Harbor Drive in Bay Harbor Islands. The project, developed by VDA Development, will include nine private boat slips along more than 100 feet of water frontage on the island’s northwestern shoreline.

North Miami to Aventura Sees Surge in Development and Lifestyle Investments

A stretch of Northeast Miami-Dade from North Miami to Aventura is experiencing rapid transformation, emerging as one of South Florida’s most active development corridors. A wave of residential, retail, culinary, wellness, and infrastructure investment is reshaping the area into a mixed-use urban district with growing regional influence. From large-scale housing proposals…

Lease roundup: BH, Electra’s Cutler Bay project lands university, Presidente Bar opens in Wynwood

Also, Fort Lauderdale’s Thrive Arts District scored restaurants, tattoo studio and more A private for-profit university will consolidate its Southland Mall facilities into a new campus at the planned redevelopment of the Cutler Bay mall. NUC University Florida Technical College, which is accredited, leased 30,000 square feet at Electra America and BH Group’s mixed-use project…

Central Fare Food Collective Opens At Brightline’s MiamiCentral

Brightline has opened a large new food hall to cater to the growing number of residents in the area. The new Central Fare Food Collective opened on June 17. It includes 12 food and beverage concepts: Cotoita El Turco Express Guchi’s Handroll Bar Icy-N-Spicy Josh’s Corner Diner Peel! Peppi’s Steaks & Hoagies Rosetta Bakery Stanzione Pizza Stephanie’s Crepès Switchpoint…

Auction date set for troubled Pembroke Pines condo complex in receivership

Residents were evacuated in August after safety concerns and allegations of mismanagement An embattled Pembroke Pines condo complex in receivership hit the market. Heron Pond, consisting of 19 two-story lakefront buildings with 304 units at 8400 Southwest First Street, was evacuated last August following monthslong concerns over its structural integrity and unsafe…

Developers building Eturna condominium on Hollywood Beach

Seven-story, 36-unit project is on an Ocean Drive site one block from the beach Four co-developers have found buyers for about 40 percent of the units at Eturna, a boutique condominium on Hollywood Beach, and expect to complete construction of the project by fall. They say pre-construction buyers have agreed to purchase 15 units in the seven-story, 36-unit development…

21-Unit ‘One North Birch’ Proposed for 1 N Birch Road in Fort Lauderdale

Las Olas Harbor Club, LLC has proposed a 13-story luxury development in Broward County. One North Birch would comprise 21 units, with about two on each floor. The spacious residences would measure 4,000 square feet. Communal amenities are to include a swimming pool and deck, fitness center, and club room. Floridian Development notes that future plans could include dock access.

Auction Set For 25-Acre Broward Condo Complex Residents Were Forced To Evacuate

A 36-year-old condo complex in Broward County is heading to auction nearly a year after the city of Pembroke Pines deemed it structurally unsafe for residents. A court-appointed receiver scheduled a public auction of the Heron Pond Condominium Association for Sept. 25. Avison Young and Fisher Auction Co. are handling the marketing and sale process for the 304-unit…

Stiles, FCA Partners Complete Redevelopment of Shopper’s Haven in Pompano Beach

Fort Lauderdale-based Stiles and Charlotte, North Carolina-based FCA Partners have completed the redevelopment of Shopper’s Haven, a 200,144-square-foot retail center in Pompano Beach, roughly 36 miles north of Miami. A new Publix Supermarket — which opened June 26 — anchors the center. Dunphy Development provided additional development…

Venture X Opens Boca Raton Coworking Location

The 30,000-square-foot flex office at Palmetto Central Campus features reception services and a community lounge area. Image courtesy of Grover Corlew Flex office provider Venture X has opened its newest coworking location at Grover Corlew’s Palmetto Central Office Campus, located at 1489 and 1499 W. Palmetto Park Road in Boca Raton, Fla. The coworking brand will occupy…

Plans Unveiled for 8-Story `Link at Boca` at 680 West Yamato Road in Boca Raton

13th Floor Investments has unveiled plans for Link at Boca, a new transit-oriented development located at 680 West Yamato Road in Boca Raton, Florida. The project is slated to break ground this summer and will bring 340 residential units and 24,000 square feet of ground-floor retail to a site directly adjacent to the Boca Raton Tri-Rail Station.

Terra and Frisbie pay $21M for Palm Beach Kennel Club site, plan 400 apartments

Developers plan to add to their assemblage and develop a total of 1,145 units, records show Terra and Frisbie Group paid $20.9 million for a Palm Beach Kennel Club site planned for a 400-unit apartment complex, marking the first phase of their redevelopment of the former dog track. Coconut Grove-based Terra, led by David Martin, and Palm Beach-based Frisbie bought…

Developers Acquire Land for ‘Westgate Village’ at 1111 North Congress Avenue in West Palm Beach

Terra and Frisbie Group are moving forward with Westgate Village, a mixed-use development on the site of the former Palm Beach Kennel Club. The three-phase project, which is anticipated to reach completion in 2032, will comprise 1,145 residences. The phases will yield 400, 340, and 405 units, respectively. According to the Real Deal, Westgate Village will feature workforce…

Gilbane and Palm Beach Atlantic University Reach Financial Close on $240 Million Mixed-Use Student Housing Project in Downtown West Palm Beach

Gilbane, in partnership with Palm Beach Atlantic University, has achieved financial close on a $240 million mixed-use student housing development set to rise in downtown West Palm Beach. The public-private partnership will deliver a 25-story tower at the intersection of Acacia Road and South Dixie Highway, addressing the university’s growing housing needs…

Inside financier Forman Capital’s playbook amid private lending boom

The firm’s business has been propelled to new heights as banks retrench. But what if the market turns? Late last year, a developer needed a hefty loan to get started on a 15-story condo tower in Naples. Prospects were grim. Banks had retrenched amid elevated interest rates, insurance was expensive and questions over the project’s viability loomed.

Companies Delay Industrial Leasing Decisions Amid Economic Uncertainty but Prepare for Future Expansion

Amid a landscape marked by geopolitical shifts, evolving trade policies and economic uncertainty, the industrial commercial real estate sector is undergoing significant transformation. New research from Prologis introduces the Leasing Driver Dimensions framework, a tool designed to help stakeholders understand the complex and varied motivations behind lea…

Revoked Visa Programs, Increased Deportations Heighten Risks To Construction Labor Force

The ice cream shop in CityPlace Doral would normally be bustling on a Tuesday afternoon when the temperature is over 90 degrees. But last week, no one was sitting to enjoy their gelato or linger over a coffee. In the city of Doral in Miami-Dade County, nicknamed Doralzuela for its hefty Venezuelan community, typically lively streets are noticeably quieter in recent months…

Creative Self Storage Solutions Offer Community Appeal

I’m having a hard time wrapping my mind around this situation—it sounds completely untrue. There’s probably more to the story than what we see on the surface, but from a self storage developer’s perspective, it’s definitely jaw-dropping. I understand that municipalities don’t love self storage facilities. They don’t generate gross receipts taxes, they don’t create many jobs…

Video: Yardi Matrix Director of Institutional Research Tyson Huebner Discusses Self Storage Sector

In a recent episode of America’s Commercial Real Estate Show, the host delved into the intricacies and future prospects of the self-storage sector in the commercial real estate market. The show took a detailed look at the self-storage industry. The host’s guest, Tyson Huebner, Director of Institutional Research with Yardi Matrix, provided valuable insights into the sector…

More than 50,000 U.S. Apartments Have Been Delayed Nationally Since 2018

Labor disruptions have recently emerged as a significant concern among apartment developers. That new threat adds to the concerns of tariff implementation, surging insurance premiums and rising construction costs. Roughly 500,000 units have been delayed across major apartment markets since 2018, according to data from RealPage Market Analytics.

Aria Reserve’s First 62-Story Tower Reaches Completion ‘In Record Time’

Melo Group has completed the first 62-story tower at Aria Reserve. Martin Melo, Co-Principal at The Melo Group, said the first tower was delivered in record time. “We’re moving rapidly toward the completion of the North Tower,” he added. Groundbreaking for the first tower took place in May 2002, with a foundation pour in February 2023. Aria Reserve will eventually…

The Miami Underline Breaks Ground On Phase 3 Recreational Facilities

The Underline held groundbreaking ceremonies earlier this month for new health, wellness, and play areas. The new areas will be integrated into Phase 3 of the 10-mile linear park and urban trail, which runs beneath and around the elevated Metrorail tracks. Construction is now officially underway on The Underline’s Pineland Courts & Fitness Room Sponsored by Baptist Health…

New Whole Foods Set To Begin Construction In South Beach

A large new Whole Foods Market will soon begin construction in South Beach, according to the SFBJ. Ocean Bank said it had agreed to provide $54M in construction financing for the building, the report said. Construction permitting began earlier this year, city records show. The new store will be located on property currently occupied by a Wells Fargo Bank at 1901 Alton Road.

Continuum Waterfront District Approved In North Bay Village

Continuum Company has received approval from the North Bay Village Commission for the Continuum Waterfront District . The Continuum Waterfront District is planned to include: Two Continuum condo towers A boutique hotel with restaurants, spa, fitness, and office space A renovated marina, wellness areas, and civic gathering spaces Ground-floor retail…

Oak Row scores $211M construction loan for Edgewater apartment tower

Alex Karakhanian’s Lndmrk is a co-developer of the 324-unit project Oak Row Equities scored a $210.5 million construction loan for a 324-unit multifamily tower in Edgewater, The Real Deal has learned. The deal comes amid a South Florida construction financing flurry, which has continued despite higher interest rates and a slowdown of apartment lease-ups due to record recent…

Oak Row Equities Obtains $210.5M Construction Financing for Apartment Tower in Miami’s Edgewater Neighborhood

Oak Row Equities has secured $210.5 million in construction financing for 2900 Terrace, a 324-unit high-rise apartment tower in the Edgewater neighborhood of Miami. The financing package includes a $142.5 million senior loan from Bank OZK and a $68 million mezzanine loan from Canyon Partners Real Estate LLC. Christopher Peck, Brian Gaswirth…

Developer Secures $210M To Build ‘New Category Of Luxury Rentals’ In Edgewater

Groundbreaking will take place imminently for a luxury apartment tower in Edgewater after the developer secured construction financing, according to a press release. Developer Oak Row Equities closed on $210.5m in construction financing to build 2900 Terrace. The new 38-story building will become “premier luxury multi-family tower in Miami’s Edgewater neighborhood,” the release…

Mast Capital, BH close on Coconut Grove bulk condo deal at 2445 South Bayshore Drive

Developers now control more than 75% of condos, plan to redevelop the site BH Group’s Isaac and Liat Toledano and Mast Capital’s Camilo Miguel Jr. with the Bayshore Park condominium at 2545 South Bayshore Drive in Miami (Getty, BH Group, Mast Capital, Google Maps) Mast Capital and BH Group paid at least $20 million for the majority of condos at an older building…

Miami Apartment Market Regains the South Florida Occupancy Spotlight

Miami is the tightest apartment market in South Florida, after recovering well from the pandemic-era occupancy decline. Before the COVID-19 pandemic, Miami tended to outshine the other two South Florida apartment markets in occupancy performance. In the five years leading up to the pandemic (2015 to 2019), Miami averaged occupancy at 96.1%, according to data…

Lennar proposes 106 townhouses near Homestead, as it continues to target south Miami-Dade

Lennar wants to develop 106 townhouses near Homestead, as the homebuilding giant continues its development spree in south Miami-Dade County. The Miami-based firm, led by Stuart Miller and Jon Jaffe, proposes the Retro West complex with 11 workforce units on a 10-acre vacant site on the northwest corner of Southwest 338th Street and Southwest 192nd Avenue…

Eichners score approval for mixed-use project in North Bay Village

Commissioners voted in favor of special area plan, site plan and development agreement The North Bay Village Commission voted in favor of Continuum Company’s proposal for its Continuum Waterfront District, a two-phase, mixed-use development. Commissioners unanimously approved at a meeting last week a special area plan, site plan and development agreement…

Lease roundup: Pura Vida, Tremble on tap at Esplanade at Aventura

Also, Bridge Point Port Everglades lands its first tenant Open-air shopping center Esplanade at Aventura scored 17 tenants for a combined 54,800 square feet. This month, Tremble will open a 1,600-square-foot gym and Bank of America will open a 4,700-square-foot branch at 19505 Biscayne Boulevard in Aventura, according to a news release from Esplanade at Aventura.

Sunset Harbour’s Office Depot site trades for $29M 

Miami Beach neighborhood is experiencing some redevelopment, including the Eighteen Sunset The Office Depot site in Miami Beach’s Sunset Harbour traded for $28.5 million, The Real Deal has learned. EOS Wellness Real Estate Miami LLC bought the 19,700-square-foot retail building on the 0.6-acre site at 1771 West Avenue, according to a source.

New development firm plans pair of Ojus condo projects for first build

Construction contractor Jorge Saivay, engineer Luis Ochoa founded GrowIn Group last year GrowIn Group’s Jorge Saivay and Luis Ochoa with renderings of the Lev at Aventura and Eden at Aventura condo projects in Ojus (Getty, GrowIn Group, Gaviria Architects) Newly formed real estate firm GrowIn Group proposes a pair of 32-unit condo buildings in Ojus, marking its first…

“Not a license to lie”: Aventura Developer seeks punitive damages from Winn-Dixie’s parent 

Southeastern Grocers executives allegedly deceived Aventura-based TCII Capital affiliate in new grocery store build Winn-Dixie parent Southeastern Grocers allegedly misled an Aventura-based developer into starting construction of a new store the company had no intention of occupying, court records show. On Monday, Miami-Dade Circuit Court Judge Abby Cinnamon…

Edge House Miami and Clear™ Partner to Create Edgewater’s First Biosecure Short-Term Rental Tower

Grupo T&C has announced a partnership with Clear™, a global wellness technology company, to bring air, water, and surface purification systems to Edge House Miami, a planned 57-story short-term rental tower in Edgewater. The collaboration makes the development the first biosecure tower of its kind in the neighborhood, with health and environmental wellness technologies…

Edge House Announces Plan To Become First Biosecure Tower In Edgewater

Edge House Miami has announced plans to become the first biosecure high-rise in Edgewater. The developer of the building is partnering with Clear, a wellness technology company. The technology being installed will include ClearCentral – A whole-building water sterilization system that treats incoming water for contaminants. The air in corridors in the building will be treated…

163-Unit Affordable Housing Development Proposed for 838 NW 79th Street in Miami

Cooper City-based Ainuz Holdings LLC has plans for a mid-rise housing development in Miami-Dade County. The venture is planned to measure 14 stories above grade and comprise 163 homes, 40 percent of which (65) would be deemed workforce housing. The venture’s currently in its pre-application phase. Residency will be available to tenants earning up to 120 percent…

Immersive art museum could replace longtime movie theater on Lincoln Road

Superhuman Museum LLC proposes converting Regal Cinemas to immersive art museum. Miami Beach Planning Board will review proposal on July 1. Project aims to revitalize Lincoln Road with interactive art experiences. A proposal to convert the Regal Cinemas on Lincoln Road into an immersive art museum is scheduled to go before the Miami Beach…

Interior Demolition Permit Issued At Brickell’s Mandarin Oriental Site

The first demolition permit was issued this morning for the Brickell Key site where two new Mandarin Oriental towers are planned. An interior demolition permit was approved early this morning by Miami’s Building Department, and issued just a few minutes later. The approved permit covers a total of 527,824 square feet of space. Other permits, including for total…

State Of Florida ‘Seizes’ Everglades Jetport Land

At least part of Miami-Dade’s Everglades Jetport land has been “seized” by the State of Florida to house an immigration detention center, according to the Herald. The new detention facility is being called “Alligator Alcatraz” due to its location in the Everglades. Under Florida law, the governor has the authority to seize private property in the event of an emergency.

$125M Construction Loan Secured For New Mixed-Use Tower ‘Cassi’ in Design District

A $125m construction loan has been secured for a new tower called Cassi in the Design District. Cassi will rise 20 stories. It will include 107 rental apartment units, averaging 1,509 square feet – larger than average, with 161,444 total rentable square feet. There will also be 23,000 rentable square feet of retail space. Walker & Dunlop, Inc. arranged the financing, which was led…

24-story Allapattah tower to include micro units

A developer is bringing affordable housing, including some micro units, to the Allapattah neighborhood of Miami. Joe Acquisitions LLC proposes a 24-story mixed-use residential development for 1334 NW 22nd St., offering 400 residential units, about 17,800 square feet of commercial-retail uses on two floors, and a parking podium for up to 335 vehicles.

Mount Sinai growing with entry into Westchester

Mount Sinai Medical Center is moving to expand its impact in South Florida to Westchester as it breaks ground on a new state-of-art emergency center at 8200 SW Eighth Street. “The building is going to bring critical services to the community; emergency services,” said Matt Barnard, associate vice president of planning and construction at Mount Sinai Medical Center.

Baptist’s Women’s Cancer Center due for 2026 use

Construction continues on the Al and Jane Nahmad Women’s Cancer Center at Baptist Health’s Kendall campus, with topping out of the building structure planned for September and completion expected by December 2026. The cutting-edge,  155,000-square-foot facility remains on track to open as scheduled, expanding access to specialized cancer care tailored to women’s needs…

Dr. Dipen Parekh: Noted healthcare innovator becomes the CEO of UHealth

This month, Dr. Dipen J. Parekh was named the chief executive officer of UHealth, as well as executive vice president for Health Affairs at the University of Miami. Since joining UHealth in 2012, Dr. Parekh, a globally renowned urologic oncologist, healthcare innovator, and leader in academic medicine, has played a pivotal role each step of the way as the University of Miami…

Miami Office Market Defies National Trends, Sees Rent and Occupancy Growth

Over the past five years, the national office market has faced its fair share of challenges: hybrid work reshaping demand, a surge in sublease spaces and rents stagnating in many cities. But Miami’s office market? It’s been a standout performer, and it’s soaring, not just holding its ground. From the onset of the COVID-19 pandemic, Miami began to separate itself from other major metros.

Esplanade at Aventura Welcomes 17 New Tenants Including Starbucks, Pura Vida, and Anatomy Fitness

Esplanade at Aventura, the recently completed open-air retail and lifestyle center in northeast Miami-Dade, is continuing its expansion with the announcement of 17 new tenants. Since its grand opening in December 2023, the development has emerged as a prominent destination for dining, wellness, and upscale retail in South Florida. The new leases represent more than 54,000 sf…

Seritage Growth Signs 17 New Tenants at Esplanade at Aventura in Metro Miami

Seritage Growth Properties, a REIT created by Sears Holdings in 2015, has signed leases with 17 new tenants at Esplanade at Aventura, its 215,000-square-foot mixed-use development located in the northeastern Miami suburb of Aventura. Retail and restaurant concepts including The Salty Donut, If So, Chip City and The Shade Store recently opened at the property…

Hilco Real Estate Sales Announces Entitled Dev Parcel Available Through Bankruptcy Sale in North Miami Beach

Strategically located at the corner of NE 163rd Street and NE 19th Avenue, address 16300 NE 19th Avenue, the shovel-ready site is fully entitled for a 20+-story, 341-unit, Class-A multifamily development with over 400 structured parking spaces and 11,600± SF of commercial space. This site offers strong access to Dixie Highway and I-95 and sits within 15 miles of both MIA…

Developers Reckon With Building Against South Florida’s Rising Tide

South Florida’s coast may be among the most valuable real estate in the world, but as sea levels rise, developers are being forced to adapt — and some are considering how long they can continue building next to rising waters. Amid the threat of increased flood risk, uneven local mandates and cuts to the National Oceanic and Atmospheric Administration and National Hurricane Center…

Plans Filed With UDRB For 233 Luxury Condos In Wynwood

The developers planning a luxury condo building in Wynwood have submitted their plans to Miami’s Urban Development Review Board. The building, known as Twenty Sixth & 2nd Wynwood Residences, was announced in April. Condo sales launched the same month. According to the UDRB filing, Twenty Sixth & 2nd Wynwood Residences is planned to rise 8 stories…

Miami Becomes Even More Densely Populated With 10% Increase In Population

The city of Miami has seen a healthy increase in population (and density) since 2020, according to recent data from the U.S. Census Bureau. Miami’s population was estimated to have reached 487,014 as of July 1, 2024, compared to 442,244 on April 1, 2020. That is an increase of 44,770 new residents, or 10.1 percent. The added population means there has been an increase in population…

Groundbreaking Tomorrow For $600M MIA Terminal Expansion – First Since 2012

Miami International Airport is planning a groundbreaking ceremony tomorrow for a brand new concourse. The new Concourse K will span around 300,000 square feet, spread over three levels. It will include six new passenger gates, a passenger lounge, and new dining and shopping options for passengers. The cost of the expansion is estimated at $600.6 million.

$210.5 Million Construction Financing Secured For 2900 Terrace In Edgewater

Oak Row Equities has closed on $210.5 million in construction financing for 2900 Terrace, a luxury multifamily tower in Miami’s Edgewater neighborhood. The financing package comprises a $142.5 million senior loan from Bank OZK and a $68 million mezzanine loan from Canyon Partners Real Estate LLC. JLL Capital Markets arranged the debt, with construction now…

Monceau Realty Revises Plans for Development at 26710 S.W. 144th Avenue in Homestead

Monceau Realty is scaling back plans for a project Florida YIMBY originally covered in 2023. The venture, then known to us as “Bloch Naranja Estates,” was planned to feature 197 workforce housing apartments in eight stories, totaling just over 230,000 square feet. Now, plans have changed, and the developer is seeking to cut the height in half, along with reducing…

Developers Pledge $1 Million To Improve Streetscape And Park Near Surf Row Residences In Surfside

The development team behind Surf Row Residences—LD&D in partnership with ONE Capital and IGEQ—has pledged $1 million toward enhancing the surrounding streetscape and public amenities near the project site in Surfside. The funds will support the revitalization of a stretch of 88th Street, as well as upgrades to Veterans Park and its adjacent tennis courts.

Ocean Bank Provides $54M Construction Loan for Whole Foods-Anchored Retail Project in Miami Beach

Ocen Bank has provided a $54 million construction loan for a retail development in Miami Beach. The borrower, 1901 Alton Property LLC, an affiliate of veteran developer Russell Galbut and his daughter Marisa Galbut, is developing a commercial building that will house a 40,883-square-foot Whole Foods Market, 4,000-square-foot Wells Fargo bank branch and 271 parking spaces.

Tower Cranes Up To 1,298 Feet Tall Planned For Citadel’s Supertall Project At 1201 Brickell Bay Drive in Miami

Permits have been filed with the Federal Aviation Administration (FAA) for the installation of three tower cranes at 1201 Brickell Bay Drive in Miami, where Citadel, the hedge fund led by Ken Griffin, in partnership with New York-based Related Companies, plans to construct a 1,040-foot-tall supertall commercial tower designed by Foster + Partners with AAI Architects…

Continuum Unveils Waterfront District After Unanimous Approval in North Bay Village

Continuum Company has unveiled its vision for the Continuum Waterfront District, a transformative two-phase, mixed-use development spanning more than three acres along Biscayne Bay in North Bay Village. The master plan, designed by Arquitectonica, was recently granted unanimous approval by the North Bay Village Commission and aligns with the city’s NBV100 Master Plan…

Miami Developer Avra Jain Settles With Creditors Over $2.4M Judgment

Avra Jain’s former attorneys have settled with the prominent developer over the $2.4 million in court judgments she owed for her unsuccessful legal malpractice lawsuit. The case was officially dismissed in February, and the settlement terms are confidential. While recognized as a real estate visionary, Jain had been embroiled in a legal saga dating back to 2009.

Kadima launches $70M Hallandale Beach mixed-use condo project ‘Seven Park’

Plan is nearly double the cost of its other nearby multifamily development Kadima Developers is launching a $70 million mixed-use condo project in Hallandale Beach, marking the latest addition to the city’s residential development pipeline. Kadima’s Seven Park is planned for 218-220 Southeast 7th Street and will span eight stories with 121 condos, according to a press release.

‘Seven Park’ to Feature 121 Residences at 220 SE 7th Street in Hallandale Beach

Kadima Developers intends to break ground on a mixed-use venture in Hallandale Beach. Seven Park is slated to measure eight stories above grade, comprising 121 residences. According to the South Florida Business Journal, homes would span studio to three-bedroom layout plans, measuring 500 to 1,645 square feet. They’re priced starting at $375,000.

DMD Ventures claims lender seeks unlawful foreclosure of 2-Acre Fort Lauderdale multifamily dev site

Lender entity backed by EB-5 investors alleges developer defaulted on $11M mortgage debt DMD Ventures launched a preemptive legal strike in an attempt to stave off foreclosure of a 2-acre multifamily development site in Fort Lauderdale. On June 13, a Naples-based lending entity managed by lawyer Anthony Korda sued Fort Lauderdale-based DMD in Broward County Circuit…

13th Floor Unveils Plans for Boca Raton Mixed-Use TOD

13th Floor Investments is planning to break ground this summer on Link at Boca, a mixed-use, transit-oriented development located in Boca Raton, Fla., that will feature an eight-story multifamily building with 340 market-rate and workforce apartments. The project is expected to take two years to complete. Located at 680 West Yamato Road, Link at Boca will also have…

Billionaire migration fuels million-dollar tax bills in Palm Beach

Ken Griffin’s property taxes on the island top $10M Palm Beach’s luxury real estate boom is fueling a rare phenomenon: the million-dollar property tax bill. Of all the affluent homeowners on the island, no one has a higher bill than billionaire hedge funder Ken Griffin, whose property tax bill is more than $10 million, according to Bloomberg. Griffin is one of at least 60 billionaire…

Kolter, Perko buy out waterfront West Palm Beach condo for $38M

Developers plan 18-story luxury tower across Intracoastal from Mar-a-Lago Kolter Group and Perko Development dropped $37.6 million on the buyout of an aging condominium in West Palm Beach across the water from Donald Trump’s Mar-a-Lago Club. The partners bought all 38 units in Flagler House at 3705 South Flagler Drive from the individual owners and terminated…

Related Group, partners plan workforce housing at Marina Village in Riviera Beach

It’s part of a 90-acre mixed-use master-planned development near Riviera Beach’s waterfront Riviera Beach officials cleared a path for Related Group’s affordable arm to develop a 149-unit workforce housing project at Marina Village. The Riviera Beach City Council on Wednesday approved the replat of 2.4 acres between Broadway and Avenue C just south of East 12th St…

Defunct Retreat Behavioral Health facility near Lake Worth Beach sells for $16M

Banyan Treatment Centers already lined up as new tenant Banyan Treatment Centers CEO John Sory with 4140 Lake Worth Road (Getty, Banyan Treatment Centers, Google Maps) A vacant, distressed drug treatment facility near Lake Worth Beach sold for $15.6 million, and the new landlord has secured Banyan Treatment Centers to move into the building. Blue Cane Properties…

18-Story ‘Flagler House’ Planned for 3705 S Flagler Drive in West Palm Beach

PK Flagler LLC, a partnership between Perko Development and Kolter Urban, is moving forward with a high-rise luxury project in Palm Beach County. Flagler House is planned to measure 194 feet above grade, offering 39 units. The tower will replace a low-rise residential building on the property that has recently been vacated. The previous structure was erected in the mid-1980s…

Immocorp scores $117M construction loan apartment complex in West Palm’s Northwood

Gilbert Benhamou and Gideon Friedman started construction last year on the 382-unit project using their own equity A developer scored a $117 million construction loan for a 382-unit multifamily project in West Palm Beach’s Northwood District. Immocorp Ventures –– a partnership between Gilbert Benhamou of Aventura-based Immocorp Capital and Gideon Friedman…

Microsoft-linked buyer is assembling a $350M Palm Beach portfolio

A buyer linked to Microsoft is assembling a sprawling portfolio of Palm Beach properties, in a series of deals that will likely total more than $350 million, sources told The Real Deal. Billionaire Charles Simonyi, the early Microsoft employee credited with creating Word and Excel, is likely the buyer, sources confirmed to TRD. The Wall Street Journal first reported that Simonyi…

How ICE raids could affect Florida’s construction industry 

Over 100 were detained at a Tallahassee construction site last month, as local law enforcement agencies partner with ICE Reports of federal immigration agents detaining construction workers across the state are trickling in. Six of more than 100 people who were detained by U.S. Immigration and Customs Enforcement agents in Tallahassee late last month were recently charged…

Office Sector Is Turning a Corner. What Is Fueling its Return?

By Brett Reese of CP Group After several years of disruption, the office market is beginning to show meaningful signs of recovery. Market fundamentals are strengthening, sentiment is shifting and the data backs it up. Office sales totaled $64.3 billion last year, up nearly 21 percent from 2023, according to MSCI Real Assets. Net absorption also turned positive…

FOMC Summary of Economic Projections, June 2025

In a previous FRED blog, we discussed the Summary of Economic Projections (SEP) released by the FOMC this past March. In this blog post, we will again use ALFRED, the vintage data version of FRED, to compare the latest projections released in June 2025 with several of the recent projections through 2027 for the following variables: the unemployment ratecore…

‘Follow The Politics’: Developers Slow To Return To New York City

By all indications, five years after the onset of the pandemic, New York City is back. Many of its developers, however, are not. New York’s office sector is at its most active since 2019, its vacancy rate is falling and it leads the nation in demand for top-tier space. Apartment vacancy is at a multi-decade low of 1.4%, and rents are at all-time highs. And 65 million tourists…

DeSantis signs amended condo safety bills into law on anniversary of Surfside collapse

Legislation extends deadline for associations to complete structural integrity reserve studies to end of 2025 Gov. Ron DeSantis signed bills amending the state’s condo safety legislation, four years after the deadly Surfside collapse. On Monday, DeSantis signed House Bill 913 and House Bill 393 into law. The June 24, 2021 collapse of Champlain Towers South killed 98 people overnight…

Signs of Office Stability Nationally Emerge as Downsizing Eases 

The contraction of office space utilization is easing, according to a new report by Cushman & Wakefield in partnership with CoreNet Global. Over the last two years, two-thirds of major space occupiers reduced their office space usage, but only about one-third (32 percent) are planning further downsizing. Indeed, one in eight occupiers plans to expand their footprint, the report noted.

Chart: Surge in Trade Policy Uncertainty Index 4 Times any Prior

Economic uncertainty related to trade policy has spiked to unprecedented levels, driven by erratic political shifts and a barrage of rapidly changing tariffs. While some interpret this as a strategic maneuver, the effects are measurable regardless of intent. The chart above, based on the Fed’s Economic Policy Uncertainty Index for trade policy, highlights the current surge in uncertainty.

What a recession could mean for commercial real estate

With inflation, interest rates and the presidential administration’s trade policies dominating the news cycle, the potential for a recession is top of mind for commercial real estate. To determine how a recession might impact commercial real estate, we spoke with Tom LaSalvia, Head of Commercial Real Estate Economics for Moody’s; Ginger Chambless, Head of Research…

The Era of Side Hustles & Freelancers: Can Self Storage Be the Next Creative Workspace?

“Find a stable job with health insurance and retirement benefits”—said no parent in the last decade. In the days of the Greatest Generation and Baby Boomers, dedicating your career to a single company often meant a secure retirement. That era, however, isn’t even conceivable for Millennials and Gen Z—unless, perhaps, you’re in a government job. Advances in technology…

Plans Filed For Cranes To Build ‘One Of Greatest Office Buildings In The World’ at Citadel Site

The Federal Aviation Administration received an application yesterday for approval to install construction cranes at the Citadel site in Brickell. According to the June 17 filing, the cranes are expected to reach a height of around 1,301 feet above sea level, or 1,297 and 1,298 feet above ground level, pending approval. The cranes are estimated to be installed beginning around…

Report: One Bidder To Build Massive Metrocenter In Downtown Miami

Miami-Dade received only one bid to build the Metrocenter project, according to a report in The Real Deal. Previously, three separate development teams were said to be working on bids for the project. The sole bid came from a joint venture between Related Urban, 13th Floor Investments, and Merrimac Ventures. A previous report said they had been working with Arquitectonica…

Walker & Dunlop Arranges $125M Construction Loan for Cassi Apartment Tower in Miami

Walker & Dunlop has arranged a $125 million construction loan for Cassi, a 20-story apartment tower located at 91 N.E. 36th St. in Miami’s Design District. Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Jordan Casella and Michael Stepniewski led Walker & Dunlop’s New York Capital Markets team in arranging the financing on behalf of the borrower…

Craig Robins’ Dacra, partners score $125M construction loan for Design District apartment project

Craig Robins’ Dacra and its partners landed a $125 million construction loan for a 107-unit apartment project in the Miami Design District. The deal marks continued flow of financing for South Florida multifamily development, despite a slowdown of leasing and plateauing –– and even slightly declining rents –– compared with recent years’ bonanza.

Partner accuses Canero Group of “fraudulent scheme” involving Miami-Dade projects

Justin Rundle, son of county’s top prosecutor, is suing Miami-based firm and its principals over alleged mismanagement A fallout between Canero Group’s principals and a high-profile partner has sparked allegations of fraud and mismanagement involving six projects in Miami and Homestead. Justin Rundle, a real estate investor and son of Miami-Dade State Attorney Katherine…

Chilean developer proposes 544-unit resi tower on former Mexican Consulate site in Brickell 

Ardid family’s Key International signed an agreement last year to purchase property from owner Claudio Fischer A developer proposes a 544-unit residential tower on the former Mexican Consulate site in Brickell, marking a continuing flurry of project applications for Miami’s financial district. The proposal is for a 41-story building with 9,400 square feet of ground-floor retail…

Roble One Breaks Ground In Coconut Grove, Secures $7.87 Million Construction Loan

Roble One, a new boutique condominium development at 3069 Plaza Street in West Coconut Grove, has officially broken ground. The groundbreaking coincides with the closing of a $7.87 million construction loan secured by the project’s developer, SSA Group, from Intercredit Bank. Completion is expected in 2026.

Metro Parc South Breaks Ground at 954 and 934 East 25th Street in Hialeah

Construction has begun on Metro Parc South, a 10-story, 347-unit multifamily development located at 954 and 934 East 25th Street in Hialeah. The project is being developed by Coral Gables-based MG Developer as part of its broader Metro Center master plan, which aims to transform the area with over 2.3 million square feet of residential and retail space….

‘Griffin Parkview Apartments’ Set for 2026 Groundbreaking at 12300 West Dixie Hwy in North Miami

MMG Equity Partners has secured approval for a residential development with workforce housing in North Miami. Griffin Parkview Apartments will measure eight stories above grade, offering a total of 110 units. Of those homes, 40 percent will be deemed workforce housing, designated for households earning up to 120 percent of the area median income (AMI).

Ken Griffin: Miami ‘Unequivocally’ One Of Great Up-And-Coming Cities In The World

Billionaire Citadel founder Ken Griffin is bullish on the future of Miami. “Miami is unequivocally one of the great up-and-coming cities, not just in Florida, not just in America, but in the world,” Griffin said in an interview published today. “This is one of the most fun places you can possibly imagine living in,” he added. “What’s wonderful about being in Miami is you go to dinner…”

Construction Underway On New 35-Story Tower ‘Cadence’ at Douglas Road Metrorail Station

Another transit-oriented apartment tower has broken ground at the Douglas Road Metrorail Station. The new tower will rise 35 stories, and will be known as Cadence. Cadence will include 432 apartments, of which 12.5% will be set aside for workforce housing. It will become part of the Link at Douglas complex, which will include four towers with 1,565 apartments.

Boeing Owned Electric Air Taxi Service Wisk Aero Announces Miami As Launch Market

Miami will be a launch city for a new electric air taxi service. Wisk Aero, which is a wholly owned subsidiary of Boeing, made the announcement during the Paris Air Show. The company said it has now signed agreements with both the Miami Dade Aviation Department and the University of Miami. Miami-Dade will held collaborate on future locations for Wisk operations…

Joule House Wynwood Reaches Completion With 308 Luxury Apartments

Get ready for hundreds more residents to move into Wynwood. The developer of the Joule House complex announced that the building had received a Temporary Certificate of Occupancy from the City of Miami, allowing move-ins to begin. The first move-ins have already been initiated, the developer said. Joule House includes 308 luxury apartments, with interiors by ID & Design…

Residential tower ‘The Aurea’ near Miami Health District wins city OK

A new multi-use residential project, The Aurea, is planned for a site near the Dolphin Expressway and Miami’s Health District. Owner-developer HPM Lot 5 LLC is proposing the 29-story building at 1321 NW Ninth Ave., to be home to 332 multi-family residential units, amenities, and some ground floor retail. In application documents, the project is also called Highland Park Lot 5.

Swiss Pharma Company Galderma Opening Brickell HQ Office With 150 Employees

Switzerland’s Galderma announced today that it will establish a U.S. headquarters office in Brickell. The dermatology focused pharmaceutical company said it will have around 150 employees, including U.S. leadership roles, based in the new Miami office by 2028. The U.S. is the largest region for Galderma’s business, and Miami has one of the highest concentrations…

City board rejects 166 Little Havana housing units

A development team is working to bring more affordable housing to Little Havana, utilizing the state’s Live Local Act. However, a city review board is critical of the plan. The project is designed to include a 23-story mixed-use residential development, home to 166 dwellings, 403 square feet of commercial use on ground level, with associated amenities, with seven levels of parking.

Swire Sells Brickell Property To Developer Planning Possible 40-Story Tower

An affiliate of Habitat Group has purchased a Brickell property from an affiliate of Swire Properties, according to the SFBJ. Abitaro Living LLC paid $7.5m for the property. The company is lead by Santiago Vanegas, and the Abitaro concept is for shared property ownership. The developer is now said to be considering two possibilities for the property.

Exterior Cladding Nearly Complete At NoMad Residences Wynwood

NoMad Residences Wynwood, which broke ground in September 2023, is moving closer to completion. Photos taken last month show that exterior cladding is now mostly in place. The building is scheduled to reach completion in Q4 2025, a representative of the developers said. NoMad Residences will include 329 condos delivered finished and furnished, and allowing flexible rentals.

European Lifestyle Hotel Group Launches Branded Condos In Wynwood

In Wynwood, a new development known as The Cloud One Hotel & Residences Wynwood is now launching sales. The Cloud One Hotels is a Germany-based lifestyle hotel brand. The development is planned to include 85 condo units, starting in the high $500,000s. Unit sizes will range from studios to three bedrooms, including duplex penthouse units with 22-foot ceilings.

New Renderings Of Crown Overtown, Funding Vote Scheduled

The Southeast Overtown/Park West CRA has scheduled a vote on design service funding for the planned Crown Overtown project. The project is split into phase 1 and 2, with a combined 1.6 acres. The first phase is entirely within the 9th Street Pedestrian Mall, with an assumed construction budget of $15m. The design contract is with Hood Design Studio of Oakland California.

South Florida Is a Magnet for Multifamily Owners, Investors and Lenders

South Florida remains one of the most attractive markets for multifamily investment in the United States, driven by population growth, job creation and limited rental supply. While 2024 saw slower transaction volumes, fundamentals suggest a rebound is coming in 2025.  This article explores trends in investment sales, debt capital markets and joint venture (JV) equity…

Plans Submitted to Miami’s UDRB For Twenty Sixth & 2nd Wynwood Residences

Plans have been submitted for review to the Urban Development Review Board for Twenty Sixth & 2nd Wynwood Residences, a new eight-story mixed-use development proposed for 2600 NW 2nd Avenue in Miami’s Wynwood neighborhood. A joint venture between PMG and LNDMRK Development, under 2600 NW 2nd Ave Trustee, LLC, spearheads the project.

Two-Tower ‘Arch Creek’ Proposed for 2056 NE 140th Street in North Miami

Developer Arch Creek Equities LLC has proposed a two-tower, high-rise housing development in North Miami. The project, which some sources call “Arch Creek,” would comprise two 10-story buildings. The pair would be separated by a street and feature a total of 293 apartments. The residences would include studio to two-bedroom floorplans, with the minimum unit…

Melo Group Proposes Biscayne 18, Twin 46-Story Towers With 1,178 Units At 331 NE 18th Street In Edgewater

An affiliate of Melo Group has submitted plans for Biscayne 18, a two-tower residential development proposed for Edgewater. Filed under 17 PLAZA LLC, the project is planned for a 1.57-acre city block bounded by Biscayne Boulevard to the west, NE 18th Street to the south, NE 4th Avenue to the east, and NE 19th Street to the north. The Property currently consists of vacant land…

UDRB to Review Plans for Final Phase of Aria Reserve at 500 NE 24th Street in Miami

Miami’s Urban Development Review Board (UDRB) has plans to review the third and final phase of the Melo Group’s Aria Reserve project. Currently, phases one and two are under construction. The last phase, called Aria Reserve Skyclub, will comprise residential, retail, and office space. More specifically, the Next Miami notes that the expansion would measure 49 stories…

Ytech Unveils KPF-Designed Residential Tower ‘Seven Broadway’ in Brickell

Ytech has unveiled plans for Seven Broadway, a new residential tower designed by Kohn Pedersen Fox, proposed for 75 and 41 Southwest 15th Road in Miami’s Brickell neighborhood. The development would rise from a 0.3-acre site located two blocks west of Brickell Avenue and directly across from Cipriani Residences….

Newmark Arranges $111M Construction Loan for Perrin Multifamily Development in Miami

Newmark has arranged a $111 million construction loan for The Perrin, a 310-unit multifamily development located at 901 SW 3rd Ave. in Miami’s Brickell district. Danny Matz of Newmark secured the financing on behalf of the borrower, The Empira Group. Goldman Sachs provided the loan. The 26-story project will feature a mix of studios, one-, two- and three-bedroom floorplans…

‘The Cloud One Hotel & Residences’ Planned for 2215 NW 1st Place in Miami

Construction is slated to start on the Cloud One Hotel & Residences by the end of this year. The luxury venture will measure eight stories above grade, where it will offer 85 condos and 214 hotel rooms. According to the South Florida Business Journal, homes would comprise studios to duplexes; they would span 450 to 2,200 square feet. In-unit features are set to include…

Continental Realty Corp. Acquires CityPlace Doral Retail Development in South Florida for $87.5M

Baltimore-based Continental Realty Corp. (CRC) has purchased CityPlace Doral, a 235,000-square-foot lifestyle retail center located at 8300 N.W. 36th St. in Doral, a western suburb of Miami. CRC financed the $87.5 million acquisition using funds from Continental Realty Opportunistic Retail Fund I LP, a related co-investment and a $58.3 million loan from a regional bank.

25-Story Mixed-Use Tower with 300 Residential Units Planned in Goulds Neighborhood of Miami-Dade County

A 262-foot-tall mixed-use tower has been proposed for a 61,847-square-foot (1.42-acre) multi-parcel assemblage at the intersection of South Dixie Highway and SW 214th Street in Goulds, a neighborhood in southern Miami-Dade County. The development, led by RCC Developers LLC and designed by Modis Architects, would become the tallest building in the immediate area…

Two-Tower Development Planned for 6100 Caballero Boulevard in Coral Gables

Fortune International Group is moving forward with a residential development that’s been in the works for more than two years. The firm recently acquired Gables Waterway, a development constructed in the 1950s and 1960s, for $37.5 million. The property appreciated in value 87 percent since it last traded hands for $20 million in 2014. The currently unnamed project is set…

Ytech Plans Luxury Brickell Residential Tower ‘Seven Broadway’ Designed By KPF

Developer Ytech is moving forward with development plans for a new luxury residential tower in Brickell called Seven Broadway. The developer is now filing the plans with Miami’s Urban Development Review Board for the new building. Kohn Pedersen Fox of New York is the architect for the new tower. Landscape design is by Enea. “This residential tower is the result of years…

‘Generational-Scale Development’ Planned In Edgewater After $42M Buy

A developer paid $42m for a property in Edgewater, with plans for a massive new development. Trilogy Real Estate Group, a national real estate investment and development firm, is the buyer, according to a press release from broker Colliers. The newly sold property is at 2200 Biscayne Blvd, and will be combined with an adjacent site already owned by Trilogy.

Foundation Pour Completed At 700-Foot Miami Worldcenter Tower

A foundation pour for the JEM Private Residences tower at Miami Worldcenter has been completed, with vertical construction now underway. The 18-hour pour began on May 30, with a total of 840 loads delivered by concrete trucks. There were 120 trucks in continuous use, making multiple trips. JEM Private Residences will rise over 700 feet, with condo residences starting…

Lease roundup: Alo Yoga on tap in Brickell; SoleFly, Japanese pancakes café coming to Doral

Also, a Pilates studio is expanding to Coral Gables Swire Properties’ Brickell City Centre scored eight tenants. In the biggest lease, global fashion label Massimo Dutti will open a 6,100-square-foot store at the mixed-use complex in Miami’s Brickell, according to a Brickell City Centre news release. Alo Yoga leased 3,900 square feet; activewear brand Vuori leased 3,200 square feet…

Hotels hit rough patch but avoid cutting rates

Despite the hotel industry anticipating a slowdown, Miami is expected to overcome headwinds. A lot of uncertainty revolves around the outlook for the summer, said David Whitaker, president & CEO of the Greater Miami Convention & Visitors Bureau. “The good news is, if we’re going to face a period of uncertainty, isn’t it encouraging to come off and have some momentum…

Lynn Torrent: Takes the helm of growing MSC Cruises North America

When Lynn Torrent was named president of MSC Cruises USA in May, it was an important step in a career that’s influenced modern cruising, one that started far from Miami’s sunny shores. Born and raised on Long Island, NY, Ms. Torrent first studied accounting at Long Island University and afterwards moved south in search of tropical weather, earning an MBA…

Florida Attorney General proposes immigrant detention center in Everglades

Florida Attorney General James Uthmeier is calling it “Alligator Alcatraz.” He told Fox Business on Tuesday that Florida is proposing to build a massive immigrant detention center in the Everglades on a large parcel of land owned by Miami-Dade County. The facility, says Uthmeier, would house suspected undocumented immigrants, process immigration cases and easily…

Eight-Story, 422-Unit Mixed-Use Development Proposed For 312 NW 7th Street In Fort Lauderdale’s Progresso Village

A new residential development has been proposed for 312 NW 7th Street in Fort Lauderdale’s Progresso Village neighborhood. The project, led by Home Venture Investments, calls for an eight-story mixed-use building with 422 apartment units, 1,667 square feet of ground-floor commercial space, and 581 parking spaces. The site falls within the NWRAC-MUE zoning district…

Lennar advances plan to build 50 townhouses in Wilton Manors

Homebuilder expects to price the three- and four-bedroom townhouses above $800K Lennar expects to break ground by year-end on 50 townhouses in Wilton Manors and sell them at prices starting above $800,000. The Wilton Manors City Commission unanimously voted Tuesday to approve the development on 5 acres at 1550 Northeast 26th Street, four blocks west of U.S. 1.

Seritage sells shuttered Sears in Boca Raton to Simon for $23M

Two years ago, seller lost court ruling to redevelop big box store Simon Property Group finalized its takeover of a shuttered Sears store at Town Center at Boca Raton in Palm Beach County. An affiliate of Indianapolis-based Simon, led by David Simon, paid $23 million to an affiliate of New York-based Seritage Growth Properties for the 180,029-square-foot big box store…

Boca Raton approves 289-unit mixed-income apartment project

Seven-story building at Park at Broken Sound will include 44 workforce and affordable housing units Developers can move forward with plans to build a seven-story, 289-unit mixed-income apartment building with workforce and affordable housing in Boca Raton, where a hotel and office complex was originally planned. The amended master plan for the 11.6-acre property…

At Boca Raton redevelopment, CityPickle and partners swing for pickleball center

New York-based group raised $20M for 25-court, 100k sf Boca Paddle The loud pop of plastic pickle balls hitting the asphalt might be a deterrent for some luxury buyers. For others, the sport is such a draw that high-end condo towers are adding courts for pickleball — and its cousin, padel — precisely to appeal to buyers. The latest is from CityPickle and its partners…

Realty Income sells West Palm car lot for $24M to Jon Samuel

Palm Beach County signed a lease to use property for public bus depot Realty Income CEO Sumit Roy with the former car lot at 1200 South Congress Avenue in West Palm Beach. Miami-based investor Jon Samuel paid $24 million for a shuttered car lot in West Palm Beach that was the former headquarters of a defunct auto dealer. Three entities managed by Samuel, who leads…

Griffis drops $87M for downtown West Palm apartment tower

Woodfield Development, Northwestern Mutual Life Insurance sell 223-unit building Griffis Residential’s Ian Griffis with the Griffis West Palm apartment tower at 345 Banyan Boulevard in West Palm Beach. Woodfield Development sold a 223-unit apartment tower in downtown West Palm Beach for $87 million. The deal marks a slight uptick in South Florida multifamily sales…

$600 Million In Construction Financing Secured For South Flagler House In West Palm Beach

Related Ross has secured $600 million in construction financing for South Flagler House, a 500,000-square-foot waterfront condominium development currently under construction in West Palm Beach. The project, located at 1355 South Flagler Drive, will be the developer’s first residential condominium in Florida and is expected to top out later this year…

Contractor who built Wellington’s luxury equestrian estates files for bankruptcy, still faces fraud allegations 

Pegasus Builders’ David Forkey allegedly forged receipts for millions of dollars, clients say A general contractor that specialized in building luxury Wellington equestrian estates filed for bankruptcy protection, as he faces fraud allegations from clients who say he doctored receipts and did not complete work. Records show both David Forkey and his business, Pegasus Builders…

Palm Beach County’s Rise as a National Innovation Hub

The influx of tech and innovation companies is positioning Boca Raton as an emerging center for high-growth industries. Image by Robert Sadler Clark, courtesy of BDPBC Palm Beach County has long been known for its sandy beaches, gated communities and appeal to retirees. Today, however, it’s quickly being recognized as a center for innovation on the national stage.

Don’t Discount The Older Warehouse

Many of today’s tenants consider older large warehouses—the 100,000-square-foot and above projects built in 2000 and prior—obsolete. Additionally, those tenants’ flight to quality following the pandemic has left these facilities vacant. But a CBRE report said that the older bulk warehouses might have a second chance with the right retrofits and renovations.

Top industrial real estate trends

For years, the rise of e-commerce and demand for last-mile delivery meant industrial properties largely outweighed supply, making them a go-to addition to many investors’ portfolios. As supply and demand begin to even out, industrial may not be commercial real estate’s darling, but the asset class is still highly sought after and continues to perform well.

Video: Foodservice Results CEO Darren Tristano Discusses Restaurants & Real Estate

In a recent episode of America’s Commercial Real Estate Show, the show host engaged in an in-depth discussion with Darren Tristano, CEO of Foodservice Results, about the state of the restaurant industry in the context of commercial real estate. The conversation touched on multiple topics, including the performance of restaurants, different types of restaurants…

How multifamily investors can prepare for a recession

J.P. Morgan Research clocks the probability of a recession occurring in 2025 at below 40%, down from 60% in April. We asked Al Brooks, Vice Chair of Commercial Banking at J.P. Morgan; Tom LaSalvia, Head of Commercial Real Estate Economics for Moody’s; and Ginger Chambless, Head of Research for Commercial Banking at J.P. Morgan, to weigh in on the potential impact…

Estate planning strategies for multifamily property owners

Aside from holding a special place in your family’s legacy, apartment buildings and other commercial real estate can be a uniquely beneficial asset for gift and estate tax purposes. “There may be a chance to pass down properties to children at discounted values that take into account shared decision-making inherent in fractionalized ownership. Targeted giving during times of depressed asset…

Barrons: The Apartment Glut Is Ending and Demand Is Rising. Rents Are Headed Up, Too.

The high cost of buying a home makes renting look good in comparison. As demand intensifies, rent hikes are on the horizon. With house prices still high, mortgage rates stuck just under 7%, and plenty of economic uncertainty, consumers are once again seeing the virtues of renting. Over a third of respondents, 35%, told Fannie Mae in April that they would rent instead of buy…

Multifamily Occupancy Slumps in Major South Region Markets

While apartment demand across the South region has been stout, hefty delivery volumes have continued to weigh down occupancy across the region. Occupancy in the South tightened 170 basis points (bps) to 94.8% in the year-ending May. Still, that rate fell 80 bps below the U.S. norm (95.7%) and ranked the South as the only region with occupancy trailing the U.S.

Florida Engineers Shy Away From Condo Work Amid Litigation, Liability Fears

Boards governing hundreds of thousands of aging buildings have to pay for structural evaluations to comply with the 2022 condo safety law passed in the wake of the Surfside condo tower collapse that killed 98 people. Faced with the possibility of costly repairs, boards are pushing for the cheapest possible inspection, but many engineers — who would be liable in the event of a failure…

The Fed on imports and trade policy uncertainty

Uncertainty surrounding trade policy can significantly affect International trade flows. Our first FRED graph, above, displays an index of trade policy uncertainty and the percent change in imports. The spike in uncertainty starting in late 2024 coincides with the spike in imports, suggesting that US importers preemptively accelerated their purchases as a precaution…

Continental Realty Corporation has bought CityPlace Doral for $88M

The three-story CityPlace Doral features more than 30 retailers and restaurants. Image courtesy of JLL Continental Realty Corp. has bought CityPlace Doral, a 235,000-square-foot grocery-anchored lifestyle and entertainment center in Doral, Fla., for $87.5 million. PGIM Real Estate previously owned the asset, according to CommercialEdge information.

Continental Realty enters South Florida with $88M CityPlace Doral buy

Baltimore-based firm purchased mixed-use project’s retail center anchored by Fresh Market Continental Realty Corporation is diving into South Florida’s retail market for the first time, acquiring the Fresh Market-anchored shopping center at CityPlace Doral in Miami-Dade County for $87.5 million. Baltimore-based Continental Realty, led by CEO JM……

Lissette Calderon’s Neology sells Miami River site to Miami-Dade for $54M

Miami-based firm previously planned 1,360-unit multifamily project Lissette Calderon’s Neology Life nixed a 1,360-unit multifamily project after selling a development site near the Miami River for $54 million. An affiliate of Miami-based Neology sold the 7.3-acre site at 2301 Northwest 33rd Avenue to Miami-Dade County, records show. Calderon’s firm had……

Berkadia Secures $50M Refinancing for Industrial Portfolio in Medley

Berkadia has secured a $50 million loan for the refinancing of the Galaxy Industrial Portfolio, a collection of 20 warehouse buildings in the Miami suburb of Medley spanning 689,940 square feet. Ocean Bank provided the five-year, fixed-rate loan with two five-year extension options and a 12-month interest-only period. Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez…

Revealed: Melo Files Plans To Build ‘Striking’ Rental Towers In Edgewater

An affiliate of developer Melo Group has submitted plans to build two new 46-story towers in Edgewater. The development is planned on the former Chinatown property, which Melo acquired for $28 million in 2019. It will be known as Biscayne 18. In a letter to Miami’s Urban Development Review Board, architect G3AEC said the two towers would be “striking,” and will contribute…

Revealed: 49-Story Aria Reserve Skyclub Planned In Edgewater

An affiliate of developer Melo Group has submitted plans to build a 49-story tower in Edgewater known as Aria Reserve Skyclub. The project is alternately referred to as Aria Reserve Tower 3 in plans filed with the city. It is adjacent to the existing Aria Reserve development site, where two 650-foot towers are under construction. The new phase is planned to include: 430 residential…

Revealed: Arquitectonica-Designed Tower Proposed Near Midtown

Plans have been filed for a new 37-story Live Local project near Midtown Miami. The project is planned to include: 364 residential units Rooftop pool deck on level 37 212 on-site parking spaces on levels 2 through 8 Plans show a leasing office in the lobby of the new building. Arquitectonia is the architect. 36th Street Owner, LLC is the applicant. A UDRB hearing is scheduled for June 18.

Feds To Expedite Sale Of Brickell Plaza Property

The Trump Administration has announced it will expedite the sale process of the Brickell Plaza property, according to the SFBJ. The Brickell property is one of eleven on a list of properties to be sold nationwide. One step of the sale process, which involves checking with local governments and nonprofits to see if they need the property will be skipped, the report said.

“Market is resetting”: South Florida’s office values decline after reaching record levels

Data shows a noticeable drop in Miami-Dade and Broward since 2022, but they haven’t dipped to 2018 and 2019 levels and are still outperforming the national average From late 2020 through 2022, the tri-county region became a magnet for out-of-state companies, prompting a leasing flurry, record rents and voracious investment sales appetite.

Simon expands at Dadeland Mall, pays $16M for JCPenney ground lease

Indianapolis-based firm acquired 190K sf big box store on 12 acres Simon Property Group is JCPenney’s new landlord at Dadeland Mall in Kendall, acquiring the ground lease for the big box store for $15.6 million. An affiliate of Indianapolis-based Simon, led by David Simon, bought the leasehold interest in the 190,962-square-foot department store at…

Trilogy completes Edgewater assemblage with $42M purchase of Crescent Heights’ HQ

Developer plans 834-unit high-rise project with apartments, condos Crescent Heights sold its headquarters in Miami’s Edgewater to Trilogy Real Estate Group for $41.9 million, The Real Deal has learned. Chicago-based Trilogy, led by Neil Gehani and Ian Kok, plans a mixed-use project with condos and apartments on the 2-acre property at 2200 Biscayne…

Inside the battle over the Robins family dynasty

Stacy Robins has been fighting her siblings over their late father’s estate His death in the fall of 2022 triggered a family fight over his kids’ inheritance and the value of their father’s estate. In The Real Deal’s latest issue, Francisco Alvarado dives into the bitter fight playing out in court. Brothers Scott and Craig are both developers, while…

Edgardo Defortuna’s Fortune drops $38M for Gables Waterway dev site 

Miami-based firm is planning branded condominium with 251 units Edgardo Defortuna’s Fortune International Group paid $37.5 million for a Coral Gables redevelopment site where the firm is planning a $150 million branded condominium with 251 units. An affiliate of Miami-based Fortune acquired Gables Waterway, a 4.8-acre multifamily and office complex at…

Affordable housing: Miami-Dade breaks ground on two developments

Hoping to ease the affordable housing crisis, Miami-Dade County elected officials broke ground on two developments. The Rainbow Village/Rhapsody Apartments is a 310-unit development at 2000 NW 3rd Ave in Miami. It will feature 163 one-bedroom units, 85 two-bedroom units, 28 three-bedroom units, and four four-bedroom units.

Homeowner fires legal torpedo at Barrington Brothers’ latest El Portal project 

Jerilyn Kobrick wants to overturn village council’s approval of planned eight-story development with 152 apartments An El Portal homeowner is seeking to overturn the controversial approval of Barrington Brothers’ next multifamily project in the village. Jerilyn Kobrick sued El Portal and an affiliate of Miami-based Barrington, led by Arthur and Ken…

In $90M deal, Blackstone unloads another South Florida industrial property 

Buyer East Capital expanded its portfolio with three-warehouse purchase Blackstone’s South Florida industrial sell-off is chugging along with the $90.2 million sale of three Miami-Dade warehouses. Including its latest divestiture, the New York-based investment giant and its subsidiary, Link Logistics, have unloaded 34 industrial properties in…

Redwood Dev Co scores $126M refi for 350-unit multifamily portfolio in north Miami-Dade

Properties include rental townhouses and apartment building, records show Redwood Dev Co scored a $126.3 million refinancing for a 350-unit multifamily portfolio in north Miami-Dade County. The deal comes as lending continues to flow in South Florida, despite elevated interest rates, skyrocketing insurance and the threat of higher construction costs…

41-Story Tower Proposed at Former Mexican Consulate Site in Brickell

A pre-application has been filed with Miami-Dade County planners for a 41-story mixed-use tower in Brickell, set to rise on the former site of the Mexican Consulate. The proposal, submitted by CF TSG Brickell, LLC, includes 544 residential units, with approximately 12.5 percent designated for workforce housing, along with 9,445 square feet of ground-floor commercial space…

With rail 12 years away, North Miami-Dade seeks transit fill-in

The Citizens’ Independent Transportation Trust is searching for ways to provide more transit to the areas of North Miami-Dade that have been waiting decades for a promised Metrorail line that is still at least a dozen years from opening. The trust, which administers tax funds that would help build the North Corridor rail line, scheduled the hunt for alternate transit…

Massive Downtown Miami Signature Bridge rises toward 2027 opening

Like giant arching spider legs, the unique supports of the new Signature Bridge supporting an updated I-395 highway continue to rise in the heart of downtown Miami, with completion planned late in 2027. Steady work continues on all three corridors of the massive I-395/SR 836/I-95 Design-Build Project in Miami, the Florida Department of Transportation (FDOT) says.

Wynwood Design Review Committee Recommends Approval for LIVWRK Wynwood, a Three-Tower Development with Workforce Housing

Miami’s Wynwood Design Review Committee has voted 4-1 to recommend approval of LIVWRK Wynwood, a major mixed-use development proposed by Brooklyn-based LIVWRK under Florida’s Live Local Act. The project, designed by MKDA with LIVWRK’s Brian Vargo listed as design architect, would introduce the neighborhood’s first high-rise buildings and one…

3 Live Local Towers With Nearly 1,400 Units Approved By Wynwood Board

Miami’s Wynwood Design Review Committee reviewed a proposal for three new towers at its June 3 meeting, and voted 4-1 to recommend approval. LIVWRK, a company based in Brooklyn, New York, is the developer planning the towers. The board also added a condition to its recommendation: more local art should be incorporated at the street level to further enhance…

Mondrian Hallandale Beach Residences Announced as First Standalone Mondrian-Branded Condominium

PPG Development and BH3 Management, in collaboration with Ennismore, have announced Mondrian Hallandale Beach Residences, a branded condominium located at 101 Diplomat Parkway in Hallandale Beach. The project marks the first standalone Mondrian-branded residential offering and repurposes an existing 26-story tower completed in 2022….

Photos: 58-Story Miami Tower ‘Downtown 6’ Rising

Photos show the 58-story Downtown 6 tower continuing to rise. Downtown 6 is planned to have 824 apartments, 2,247 square feet of retail, and 639 parking spaces upon completion. The photos also show that glass installation is underway at the 70-story Okan Tower, which is being built next door to Downtown 6.

Goldman Sachs Construction Financing Secured For 310-Unit ‘The Perrin’ Brickell Tower

A construction loan has been secured for a new residential tower planned in Brickell called The Perrin. The $111m in construction financing was secured from lender Goldman Sachs. The Perrin is planned as a 310-unit Class A Multifamily tower. It will rise 26 stories, blocks away from Brickell City Centre. “We ran a highly competitive process that drew strong interest…

Whole Foods Market Midtown Miami Opening June 26

Whole Foods has revealed new details of its new store in Midtown Miami, including an opening date. The new store will open on June 26 at 9:00 a.m. It will be a large store – at 53,400 square feet. Plans previously filed with the city also showed there will be three levels of parking. The store will have a coffee bar, prepared foods department, bakery, meat counter, and seafood counter…

Controversial Qatar 747 Might End Up Next To Miami Worldcenter, Permanently

Donald Trump’s son visited downtown Miami earlier this year to scout a site for a presidential library, according to the Herald. The Trumps are reportedly considering the parking lots next to the Freedom Tower as a location for the library (Miami Worldcenter is across the street from the Freedom Tower). The land is owned by Miami-Dade College. Four proposals…

Bridge Industrial Receives $77.6M in Financing for Industrial Park in Miami

Bridge Industrial has received $77.6 million in permanent financing for Bridge Point AVE, a nearly 600,000-square-foot industrial park located within the master-planned development of AVE Aviation and Commerce Center in Miami. Steve Roth and Bill Jurjovec of CBRE’s Debt & Structured Finance group arranged the loan. According to public records, State Farm Life Insurance…

New Owner Files Pre-Application for ‘Shoma One’ Project at 3650 Bird Rd in Miami

In 2021, Coral Gables-based Shoma Group filed plans for a project known as “Shoma One,” a two-tower venture with a 17-story and an 18-story building. Then, in 2023, the developer revised its plans, instead intending to move forward with two 40-story towers which would feature more than 700 apartments. Now, following the sale of the 2.4-acre site in question…

Pre-Application Filed For 544 New Residential Units In The Heart Of Brickell

A pre-application has been submitted to Miami-Dade planners for a new tower in Brickell. The development is planned on the former Mexican Consulate property (the consulate moved to Coral Gables in 2023). According to the new pre-application filing, a 43-story, 434-foot tower is planned with: 544 residential units (of which 12.5% will be workforce) 9.445 square feet…

‘Incredible Project That Adorns The Miami Skyline’ To Begin Soon On Former Genting Land

A luxury mixed-use tower is planned to begin construction soon near the Signature Bridge, according to the new owner of a development site. An entity owned and controlled by SF QOZ Fund I, LLC, led by David Cohen and Liam Krahe, said it would begin construction in early 2026. Genting sold the Opportunity Zone property in an off-market transaction that closed on May 30.

Flo Rida Sparks Power Move with First Black-Owned Mall in Miami Gardens

The major real estate event was joined by Councilman Reggie Leon, where Flo Rida revealed his ambitious plans to revitalize the Cloverleaf Shopping Plaza, which he purchased in 2023 for $10 million through his company Strong Arm Management. Located at 230 NW 183rd Street, the 27,813 square foot plaza sits just blocks away from where the Grammy-nominated artist…

Melo Buys Prime One Brickell City Centre Site From Swire

One of Miami’s biggest developers has acquired one of the most prime development sites in Brickell. Melo Group said in a statement that it had acquired the property at 700 Brickell Avenue from Swire Properties. The acquisition is valued at $211.5 million with the potential to increase to $221.5 million. “We are pleased to have secured such a significant property and look forward…

NoMi Square Breaks Ground at 13855 NW 17th Avenue in North Miami

NoMi Square, a 342-unit mixed-use multifamily and workforce housing development, has broken ground at 13855 NW 17th Avenue in North Miami. The seven-story project is being developed by Integra Investments through a public-private partnership with the North Miami Community Redevelopment Agency (NMCRA), and is backed by a $65 million construction loan…

Sale of 371,976 SF Airport Trade Center Industrial Portfolio Near Miami Airport Arranged

JLL Capital Markets has arranged the sale of Airport Trade Center, a 371,976-square-foot light-industrial portfolio in Miami. Situated adjacent to the Miami International Airport, the site features three cross-dock buildings that sit on 13.8 acres. Luis Castillo, Cody Brais and Taylor Osborne of JLL’s Investment Sales and Advisory team represented the undisclosed seller…

Developer Revises Plans for Mixed-Use Project at 7350 Coral Way in Miami

Miami Development Fund LLC has revised its plans for a multi-family project in Miami-Dade County. Initial plans in 2022 called for a 12-story, mixed-use tower with 320 residences, along with office and retail space. Now, with the passage of the Live Local Act, the developer hopes to benefit from incentives that would allow for increased housing density and more office space.

Joule House Completes Construction, Begins Move-Ins in Wynwood

Construction has reached completion on Joule House, a new mixed-use multifamily development located at 2200 NW 1st Avenue in Miami’s Wynwood neighborhood. The eight-story structure has received its Temporary Certificate of Occupancy (TCO) and has begun welcoming residents into its 308 residential units. The project is developed by Fisher Brothers, with property management by Bozzuto…

Fisher Brothers Completes 308-Unit Mixed-Use Project in Miami

Fisher Brothers received its Temporary Certificate of Occupancy from the City of Miami and has begun move-ins for renters at Joule House, a 308-unit luxury mixed-use development in the Wynwood neighborhood. The 1.38-acre property also has 26,000 square feet of retail space. Bozzuto is handling leasing and property management for the asset at 2200 NW First Ave.

Lease roundup: West Elm opening in Wynwood, Sushi Sake in Weston

Also, baker and sommelier Paula Marsola added to her offerings at Pembroke Gardens West Elm will open at the Dorsey mixed-use building in Miami’s Wynwood. The furnishings brand leased more than 12,000 square feet at the 12-story building at 286 Northwest 29th Street, according to the landlords’ news release. The store is expected to open in the second…

Ari Pearl, BH3 plan Mondrian-branded condo conversion in Hallandale

Developers nabbed $225M refi for the property in March Dan Lebensohn and Ari Pearl with the Mondrian-branded condo conversion in Hallandale (Getty, BH3) Ari Pearl’s PPG Development and BH3 Management plan to convert a luxury apartment tower in Hallandale Beach to Mondrian-branded condos. The developers announced they plan to convert Slate, a 26-story…

New York Life buys Pembroke Pines Medical Plaza in Pembroke Pines for $38M 

New York Life Real Estate Investors bought a medical office complex in Pembroke Pines for $38.3 million. The real estate arm of insurance giant New York Life purchased Pembroke Pines Medical Plaza at 400, 500, 600 and 700 North Hiatus Road from an affiliate of Aventura-based Triarch Capital Group, according to records and real estate database Vizzda….

Construction on ‘Mayla Cypress’ to Start Soon at 6261 NW 6th Way in Fort Lauderdale

Florida YIMBY has an update regarding Mayla Cypress, a multi-family venture we first covered after its approval in 2021. Our sources report that following the security of a $92 million construction loan, developer Grover Corlew intends to break ground soon. Upon completion, the venture will offer 312 units and a host of upscale amenities, including…

Amancio Ortega’s Ponte Gadea buys 259-unit ‘Veneto Las Olas’ Fort Lauderdale apartment tower for $165M

Pérez’s family’s Related listed building for $230M in February Spanish billionaire Amancio Ortega’s Ponte Gadea bought a 259-unit apartment tower in downtown Fort Lauderdale for $165 million, marking one of South Florida’s biggest multifamily sales so far this year. The Pérez’s family’s Related Group sold the 44-story Veneto Las Olas at 201 South…

$160 Million in Construction Financing Secured for Waldorf Astoria Residences Pompano Beach

Construction financing has been secured for Waldorf Astoria Residences Pompano Beach, a forthcoming 28-story oceanfront condominium tower poised to rise along the Broward County coastline. The $160 million loan was issued by Bank OZK to support the project’s vertical construction. The development is being led by Related Group and Merrimac Ventures in collaboration…

Related, Merrimac score $160M loan for Waldorf Astoria Residences Pompano Beach

92-unit branded luxury condo project is over 70 percent presold, developers say The Pérez family’s Related Group and the Motwanis’ Merrimac Ventures secured a $160 million construction loan for their Waldorf Astoria Residences Pompano Beach condo development, The Real Deal has learned. Miami-based Related and Fort Lauderdale-based Merrimac received the…

Boca Raton moves forward with downtown mega mixed-use project on public land

Officials give tentative OK for Terra, Frisbie Group to build 2M sf development with residential, offices, retail, restaurant and civic spaces Terra’s David Martin, Frisbie Group’s Robert Frisbie, Sr. and Frisbie Group’s Cody Crowell with a rendering of the mega mixed-use project in Boca Raton (Getty, Terra, Frisbie Group) Boca Raton approved…

Glass House Boca Raton Breaks Ground in Downtown Boca Raton

Glass House Boca Raton, a nine-story residential development planned for 280 East Palmetto Park Road in downtown Boca Raton, has officially broken ground. The milestone was celebrated on April 3, 2025, marking the beginning of construction on what is set to become the first modern glass building in the heart of the city. The development is being spearheaded…

Steve Ross lands $600M financing for South Flagler House condos in West Palm Beach

Bank OZK providing $475M of the total for West Palm Beach’s most expensive units in development GoldenTree’s Steven Tananbaum, Bank OZK’s George Gleason and Steve Ross along with a rendering of the South Flagler House condo project in West Palm Beach (Getty, Bank OZK/Karen E. Segrave, Related Ross) Billionaire Related Ross Chairman and CEO Steve Ross…

Top industrial real estate trends nationally

For years, the rise of e-commerce and demand for last-mile delivery meant industrial properties largely outweighed supply, making them a go-to addition to many investors’ portfolios. As supply and demand begin to even out, industrial may not be commercial real estate’s darling, but the asset class is still highly sought after and continues to perform well.

Video: Hoya Capital CIO David Auerbach on REITs, Commercial Real Estate Outlook

A Comprehensive Discussion on REITs and Market Opportunities The host of America’s Commercial Real Estate Show recently discussed the current state of the commercial real estate market in a comprehensive dialogue with David Auerbach, Chief Investment Officer at Hoya Capital. The conversation revolved around the impact of tariff unrest, the performance…

Multifamily Operating Expenses Moderate Significantly, But Still Well Above Pre-Pandemic

Multifamily operating expenses moderated significantly in the last year, but cost per unit remains about two-fifth above the pre-pandemic rate nationwide. The COVID pandemic set the stage for a high-demand and low-supply environment as the world saw significant disruption to manufacturing, logistics, and distribution. In the years following 2020, inflation surged across all…

Early Warnings of CRE Price Problems Nationally

The news cycle moves faster than data on performance in commercial real estate (CRE), with few current data points indicating trouble in the sector from tariff turmoil. U.S. deal volume was unchanged from last year in April and transaction cap rates saw little movement as well. The absence of evidence is not evidence of an absence of trouble, however.

Video: VettaFi Senior Research Analyst Zeno Mercer on how AI is going to ‘transform the entire life cycle of real estate’

The real estate industry is in the throes of a transformative evolution, driven by emerging technologies like artificial intelligence (AI) and robotics, according to VettaFi’s Senior Research Analyst Zeno Mercer. His insights, shared in a recent interview with Josh Lipton on Yahoo Finance’s Asking for a Trend, reveal the potential of these technologies to revolutionize every stage…

The Fed: Beige Book Reports Slight Economic Growth Alongside Uncertainty

The Federal Reserve Bank of Atlanta’s new Beige Book shows the Southeast’s economy grew slightly from mid-April through May, although signs of economic uncertainty are evident across several sectors. In the bellwether housing sector, for example, home sales grew slightly, attributed to stabilizing mortgage rates. However, demand for new homes remained below seasonal norms.

Video: Harbor Group International President Richard Litton discusses lending environment for commercial real estate

In a recent episode of a Yahoo Finance’s Catalyst, the host interviewed Richard Litton, who is the president of Harbor Group Private Capital. The topic of discussion revolved around the current state of the real estate industry, the role of private capital and credit, and the implications of potential rate cuts by the Federal Reserve. At the heart of the discussion was the ongoing…

Import cargo levels expected to surge during pause in tariff increases

Import cargo at the nation’s major container ports is expected to see a surge through this summer as retailers take advantage of a 90-day reduction in tariffs that were recently imposed on China, according to the Global Port Tracker report released June 9 by the National Retail Federation and Hackett Associates. “This is the busiest time of the year for retailers as they enter…