Spanish developer scores final approval for 4K-unit Live Local Act project — South Florida’s biggest
Pablo Castro and partner Laura Tauber plan seven 35-story towers in West Little River A Spanish developer scored final approval for a 4,032-unit Live Local Act project in West Little River. The complex marks the biggest South Florida development under the state’s affordable and workforce housing law, as well as one of the biggest planned projects in the tri-county region overall.
Miami-Dade County has approved the development of The HueHub, an $880 million mixed-use development in Miami’s West Little River district. Spanish-based developer Pablo Castro is teaming up with locally based Laura Tauber to lead the development. Situated on 12 acres at 8395 N.W. 27th Ave., The HueHub is slated to add more than 4,000 “attainably priced” apartments…
The HueHub Receives Final Approval, Paving Way for Miami-Dade’s Largest Live Local Act Project
The HueHub has officially received final approval from Miami-Dade County, clearing the way for the largest development to date under Florida’s Live Local Act. Planned for a 12-acre site at 8395 NW 27th Avenue in the West Little River neighborhood, the $880 million project will bring 4,032 residential units across seven 35-story towers.
TheHueHub, $880M ‘City Within A City,’ Scheduled To Break Ground Late 2025
New details have been revealed for The HueHub, planned in Miami’s West Little River neighborhood. The project is being developed by a team that includes Spanish developer Pablo Castro and Miami’s Laura Tauber. The $880m development will include seven “striking” 35-story towers, with a combined 4,032 residential units. There will be nearly 200,000 square feet…
UDRB Approves 22-Story 348-Unit Building In Little River
Miami’s Urban Development Review Board has voted to recommend approval of a 22-story building planned in Little River. The board vote was 4-0, and included three conditions: Add enhanced exterior architectural lighting to the Building to elevate the pedestrian experience. Add articulation to the south elevation of the Parking Garage, particularly on the ground floor…
Fannie Mae seeks $4M foreclosure against North Miami apartment building owner
Lender alleges Salem House Holding and Alexander Padilla stopped making mortgage payments in March Fannie Mae filed a foreclosure complaint against the owner of a North Miami apartment building. On July 25, Fannie Mae, led by CEO Priscilla Almodovar, sued Salem House Holding and its manager, Alexander Padilla, for alleging defaulting on a $3.9 million mortgage…
3D Visualization Shows 144 Major Upcoming Projects In Miami’s Skyline
Miami’s skyline is set to be transformed in the coming years, and a Miami-based researcher has created a 3D visualization tool allowing you to get a peek into the future. A total of 144 major projects have been meticulously visualized in 3D, sourced using official developer-released architectural plans. That gives the tool a high level of accuracy that isn’t available anywhere else.
Dubai hospitality firm buys Brickell City Centre dev site for $45M
Kerzner International bought property that was proposed for 350 condos, 180 hotel keys Dubai-based hospitality firm Kerzner International bought a Brickell City Centre development site for $45 million. The deal marks Swire Properties’ continued divestment of Brickell City Centre, nearly a decade after completing the mixed-use complex.
New Zoning Boost Approved For Transit Oriented Development In Miami
City of Miami commissioners voted last week to approve new zoning rules for properties near transit stations, according to Coconut Grove Spotlight. It was the second and final reading The changes are being billed as the city’s alternative to Miami-Dade’s Rapid Transit Zoning plan. In recent years, many developers have proposed under the county zoning plan…
Miami Approves Zoning Overhaul – With Hidden Changes
A sweeping overhaul of Miami’s zoning laws approved by commissioners on Thursday – which supersizes development on properties surrounding transit hubs – included a package of pro-development amendments not publicly disclosed prior to the crucial commission vote. Over time, the changes could permit significantly greater building height and housing density across…
Overview of Miami’s New Transit Station Neighborhood Development (TSND) Rules
The City of Miami has adopted a new zoning framework known as the Transit Station Neighborhood Development (TSND) program. This law amends the Miami 21 Code, creating opportunities for higher-density, mixed-use development near transit stations while requiring significant public benefits, affordable housing, and urban design enhancements.
South Florida developer, real estate attorney Isaac Kodsi dies at 59
South Florida developer and longtime real estate attorney, Isaac Kodsi, died last weekend at the age of 59. Isaac founded and led Ark Capital Group, a Pembroke Pines-based real estate investment firm that specializes in debt and equity for projects that are under $50 million. “We are deeply saddened by the unexpected passing of Isaac Kodsi,” according to a statement from a family spokesperson.
Ritz-Carlton developers moving forward with Lincoln Road streetscape plan
$12M revamp of 100 Lincoln Road includes $4M contribution from developers The developers of Ritz-Carlton Residences, South Beach are moving forward with plans to revamp a portion of Lincoln Road. Miami Beach commissioners approved a resolution last month for the streetscape improvement agreement covering the 100-300 blocks of Lincoln Road.
East Capital JV sells Hialeah warehouse, Homestead acreage for $53M
Martinez Distributors bought a recently completed industrial facility and land outside of Miami-Dade’s urban development boundary East Capital Partners and Vlietco Enterprises sold a recently completed Hialeah warehouse and 15 undeveloped acres near Homestead for $52.8 million. An affiliate of Martinez Distributors, a family run Hialeah-based food processing and distribution…
DRA jumps into Miami’s Allapattah with $74M multifamily acquisition
New York-based firm acquired 263-unit Modera Skylar complex DRA Advisors is dipping into Miami’s Allapattah multifamily market, acquiring a 263-unit apartment complex for $73.5 million. An affiliate of New York-based DRA, led by David Luski, bought Modera Skylar at 1444 Northwest 14th Avenue, records and real estate database Vizzda show.
Olympus Property expands South Florida multifamily portfolio with $46M purchase
Fort Worth, Texas-based firm acquired 132-unit project in Miami’s Allapattah Olympus Property boosted its South Florida multifamily portfolio after acquiring a recently completed Miami project for $45.9 million. An affiliate of Fort Worth, Texas-based Olympus, led by founder Chandler Wonderly, bought The Fifteen Miami, an Allapattah nine-story complex …
Inside the Ghermezians’ fight to keep $4B American Dream alive in Miami
Lawsuits threaten retail developer’s ambitious plans for a sprawling entertainment and shopping complex It takes serious imagination to envision dropping a 16-story indoor ski slope near swampland in South Florida. That’s why the Ghermezian family, owners of the three largest shopping centers in North America, may be the only developers willing and able to pull it off.
Alex Sapir, partners re-list Miami Opportunity Zone site
Edgewater assemblage could be developed into 741 resi units with 1.5M sf Alex Sapir’s firm and its partners are re-listing their 1.5-acre assemblage in Miami’s Edgewater neighborhood. Real Estate Alert reported the property’s estimated value is $41 million. Alex Sapir said the asking price is closer to $50 million. An affiliate of Israel-based Sapir Corp., which owns roughly…
South Florida by the numbers: Infrastructure and civic projects reshaping Miami
“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics. Miami’s current public infrastructure and civic amenity projects don’t just serve residents, they also signal long-term confidence in the market while knitting together public space, mobility and destination potential.
Landowners propose 65-acre expansion of Miami-Dade’s UDB for 1,200-unit resi project
Moving the border that restricts suburban sprawl has historically been controversial A group of landowners want to expand Miami-Dade County’s Urban Development Boundary by 64.8 acres for a mixed-use project with over 1,000 residential units. The Urban Development Boundary, or UDB, aims to restrict suburban sprawl east onto Biscayne National Park and west…
Longpoint’s South Florida spending spree continues with $82M Doral industrial portfolio buy
Boston-based firm picked up six… The Boston-based firm, led by Dwight Angelini, bought America’s Gateway Park, a collection of six industrial buildings spanning 302K square feet at 8901 Northwest 20th Street, 2011 Northwest 89th Place, 8940 Northwest 24th Terrace, 8933 Northwest 23rd Street, 1400 Northwest 89th Avenue and 1401 Northwest 89th Court, a press…
Homestead approves 80-year lease for $275M sports-themed mixed-use project
A consortium that includes retired Latin American sports stars landed an 80-year ground lease to develop a $275 million sports-themed mixed-use project in Homestead. Last week, the Homestead City Council approved the agreement with Ponte Vedra Beach-based VSGS Facilities, which is planning Sports Performance Hub of Miami-Dade, a complex consisting of a 10,000-seat…
Retail vacancies creep up across South Florida
Average asking rent rate dropped in Miami-Dade and Palm Beach counties Edens’ Jodie McLean with Weston Road Shopping Center 4410-4484 Weston Rd; Simon Property Group’s… Across South Florida, retail landlords experienced more tenants moving out of spaces than tenants moving in during the second quarter, according to a recent Colliers report.
Brickell’s Baccarat Residences Reaches Level 25
Brickell’s Baccarat Residences tower has now reached level 25 of construction, photos by Ryan RC Rea show. The building is planned to top off at 75 stories. It is approved to rise to a height of 848 feet above ground. A foundation pour for the tower took place last August Baccarat will include 324 tower residences, 8 penthouses and 28 riverfront flats and duplexes.
Tri-Rail Sets New Annual Ridership Record
Tri-Rail saw more riders than ever over the past year. A total of 4,578,680 rides were logged on the commuter rail service during the most recent fiscal year, from July 2024 through June 2025. That beats the previous record of Fiscal Year 2019, when there were 4,465,750 rides logged. “We are exceptionally proud of this ridership milestone,” said David Dech, SFRTA Executive Director.
Fiscally threatened Tri-Rail sets passenger record
As it fights for its financial life, Tri-Rail this week released figures detailing an all-time fiscal year ridership record that surpassed its pre-pandemic highs as it races full throttle to find adequate long-haul funding. The three-county commuter railway “is actively collaborating with the Florida Legislature, Florida Department of Transportation, and leadership from Miami-Dade…
An opening date for the South Dade Transit-Way has been announced. The $368 million system will launch in September, according to Miami Dade commissioner Danielle Cohen Higgins. When it opens, it will become the nation’s longest battery-electric BRT system, spanning 20 miles. It will take approximately 39 minutes to ride from Homestead to Dadeland South…
First Crane Installed At Little Havana Rental Project ‘Havana Enclave’
A crane has been installed at the Havana Enclave Apartments site, according to a social media post by BDI Construction. Havana Enclave will include 179 attainable rental apartment, according to developer Astor Cos. The building will rise 8 stories and will also include 1,866 square feet of retail. Prices for studios are expected to start around $2,000, with 1-bedrooms starting around $2300.
AIDS Healthcare Foundation buys 217-room Stadium Hotel in Miami Gardens
A Miami Gardens hotel that has capitalized on its nearness to Hard Rock Stadium has been sold by its Davie owners to a global nonprofit AIDS foundation for $24 million. The 217-room Stadium Hotel Miami was sold for about $110,644 per room during a softening in the county’s visitor industry but less than a year before seven World Cup soccer matches are to be played…
54-storytower to rise across street from nature preserve Simpson Park
Seven Broadway, a new 54-story residential tower, is coming to a property across the street from the City of Miami’s Simpson Park. The new building is to be home to 113 dwellings, parking for up to 193 vehicles, 113 bicycle spaces, and related amenities, totaling more than 400,000 square feet of floor area. Owner-developer Ytech 75 Broadway LLC plans Seven Broadway at 41 and 75 SW 15th Road…
Medley Industrial Property Portfolio Sold For $22.75 Million
Miami-Based Realtors and Investors Scott and Belinda Sime Dispose of Medley Industrial Properties for $22.75 Million Long-time Coral Gables-based real estate brokers and investors, Scott and Belinda Sime, principals… have sold three industrial properties from their overall real estate portfolio for $22.75 million. The buyer was WREV Industrial 1 Holdco LLC, led by Tyler Workman.
Dubai Developer Buys Northern Brickell City Centre Parcel
Brickell City Centre’s North Squared site has been sold to a developer from Dubai. The sale price was $45m. The transaction was recorded yesterday in Miami Dade records, and was first reported by the SFBJ. Kerzner International FL Holdings LLC is the buyer. Kerzner’s flagship brand is Atlantis. According to a memorandum recorded on the same day as the sale…
Photo: First Glass At 45-Story The Standard Residences Brickell
A photo by Phillip Pessar show the first glass being installed at the 45-story The Standard Residences, under construction in Brickell. The building is planned to include 422 condo units, a 45th floor rooftop lounge, amenities, and a restaurant. It will be connected by podium to the 44-story Lofty Brickell tower, also under construction next door.
Master Construction Permit Issued For 38-Story Tower In Edgewater
Miami’s Building Department has issued a master construction permit for a 38-story tower in Edgewater. The permit was issued July 22. Earlier, a site work and phased vertical permit had been issued for the property. The new high rise will be known as 2900 Terrace. It is planned to include 324 apartments that will be “condo quality,” with larger than average floorplans…
Foundation Permit Approved for The Delmore at 8777 Collins Avenue in Surfside
The foundation permit has been approved for The Delmore, DAMAC International’s 12-story oceanfront condominium designed by Zaha Hadid Architects at 8777 Collins Avenue in Surfside. The approval, issued by the Town of Surfside, allows the project to proceed with the next phase of construction. Deep-soil mixing (DSM) is currently underway to stabilize the site….
210 ‘Reasonably Priced’ Units Proposed for 1600 Washington Avenue in Miami Beach
420 Lincoln Road Development intends to move forward with a 15-story tower on Miami Beach. Measuring 164 feet at its highest point, the venture would feature 210 “reasonably priced” units, with floorplans spanning 550 to 1,112 square feet. The average unit would measure 739 square feet. Per the project’s proposal, the homes are intended to meet the growing demand…
FAA Approves 820-Foot-Tall Skyscraper at 19051 Collins Avenue in Sunny Isles Beach
The Federal Aviation Administration has issued a determination approving a structure rising 820 feet above ground, or 828 feet above sea level, at 19051 Collins Avenue in Sunny Isles Beach. The determination, granted on July 30 to MB RE Investments, LLC, an entity linked to Related Group, confirms the proposed tower will not pose a hazard to air navigation.
FAA Approves Sunny Isles’ Tallest Ever Tower At 820 Feet
The Federal Aviation Administration has determined that the tallest building ever proposed in Sunny Isles would not pose a hazard to air navigation. The FAA approval is for a building height of at 820 feet above ground and 828 feet above sea level, which would make it the the tallest oceanfront building in the U.S. An approval letter was issued by the agency on July 30…
Ezio’s Steakhouse to Open First Permanent Location at 72 Park in North Beach
The founders of New York’s iconic Roberta’s are bringing their latest culinary venture to Miami Beach. Ezio’s Steakhouse, the Italian-inspired pop-up created by Brandon Hoy and acclaimed chef Carlo Mirarchi, will open its first brick-and-mortar location in late fall 2025 at 72 Park, the newly completed luxury condominium tower developed by Lefferts…
MG Developer Plans 12-Story Apartment with Retail for 13400 SW 248th Street in Homestead
Coral Gables-based MG Developer intends to move forward with a 12-story apartment building on a recently acquired 2.06-acre property. Previously, the property was home to a now-demolished auto dealership. MG Developer purchased the parcel for $5.3 million — a 324% increase from its last recorded sale at $1.25 million. Plans filed with Miami-Dade County in 2023…
Q2 Report: Miami Industrial Market Stabilizes With Positive Absorption And Steady Rents
The Miami-Dade industrial market showed signs of stabilization in Q2 2025, posting 239,864 square feet of positive net absorption, a rebound after four straight quarters of losses. Notable move-ins included Amazon, Geodis, and Garland Food, helping offset large move-outs like MIFS and Monat. Rents remained steady, with warehouse/distribution averaging $16.59, up 1.0%…
Second Block Of Curbless, Pedestrian-Friendly Flagler Street Rebuild Opens
Flagler Street’s pedestrian friendly rebuild is advancing, according to CBS Miami. Five blocks of the street in the heart of downtown Miami are being rebuilt with wider sidewalks and a curbless design. Two blocks have new opened, the report said. Officals are hoping the openings will have a “domino effect” on the remaining three phases. Construction on the project began around May 2021.
Reports: G-20 Summit To Be Hosted In Miami In 2026
The Group of 20 summit is expected to come to Miami-Dade in 2026, according to CNN and other sources. President Donald Trump is planning to host the event at the Trump National Doral Miami. Hosting the summit at the venue is controversial, since it is owned by The Trump Organization, according to MSNBC. Previously, Trump faced “widespread outrage” over a proposal…
Report: Miami #1 In World For Ultra High Net Worth Buying Second Homes
Miami is the most popular location in the world for ultra high net worth individuals to buy second homes, according to the Daily Mail, which cited a report by Altrata. Ultra high net worth individuals are defined in the report as having a net worth of over $30m. Over the past five years, Miami has seen strong growth of its wealthy second-home population, the report said.
Exterior Work Underway at 3050 Aventura, Safra Bank’s New Headquarters in Florida
Exterior work is underway on 3050 Aventura, a new 12-story Class A office development at 3050 Northeast 199th Street in Aventura, Florida. The project is being developed by Safra National Bank, which acquired the 1.31-acre site in 2009 for $11.5 million. It replaces a three-story office building constructed in 1991. Designed by Foster + Partners in collaboration…
$52.9M Sale of New Industrial Facility in Hialeah Brokered
Hialeah… the $52.9 million sale of Countyline East Logistics Center, an industrial facility located at 16300 N.W. 97th Avenue in Hialeah, a suburb of Miami. An undisclosed buyer, which plans to fully occupy the 171,178-square-foot property, purchased the asset from the developer, a partnership between East Capital Partners and VLIETCO Enterprises.
Master Permit Issued for 70-Story Okan Tower in Downtown Miami
The City of Miami has issued the master construction permit for Okan Tower, marking a critical milestone for the 70-story mixed-use development rising at 555 North Miami Avenue in Downtown Miami. With this approval, the development team can now advance full-scale interior buildout and mechanical system installation across the tower, including plumbing…
Master Construction Permit Issued For 70-Story Okan Tower
Miami’s Building Department has issued a master construction permit for Okan Tower. The permit allows the developer to move forward with all interior and mechanical system – including plumbing, HVAC, electrical, elevators, and life safety. “With this permit in hand, we now have the green light to complete every element of the building,” said Bekir Okan, Chairman of developer Okan Group.
Zaha Hadid-Designed Delmore Gets Foundation Permit In Surfside
In Surfside, a foundation permit has been issued for The Delmore, which is being by the globally renowned Zaha Hadid Architects. The permit will allow for piling work to begin at the site. The piles will extend over 100 feet below ground. Foundation contractor Keller North America has already commenced deep-soil mixing at the site, and that work is now about a third complete.
Hypercar-Focused Garage Design Unveiled for Pagani Residences in North Bay Village
Pagani Residences is redefining the concept of a luxury garage, introducing a space conceived not simply for vehicle storage, but as an architectural gallery designed for collectors and enthusiasts of high-performance automobiles. Developed by Riviera Horizons and Pagani Automobili, the project will rise at 7940 West Drive in North Bay Village and is the first residential…
‘Residence 27’ to Offer 247 Homes at 2728 NE 2nd Avenue in Miami
Our sources have revealed plans for a high-rise residential tower in Miami’s Edgewater neighborhood. Residence 27 is a preconstruction building set to feature 247 homes in 20 stories. Residents will have access to a suite of on-site amenities, most of which contained in an amenity deck; it will include a fitness center, residents’ lounge, and swimming pool.
Construction Starts on 251-Unit ‘Modera Aventura South’ at 2681 NE 191st Street
Boca Raton-based Mill Creek Residential has broken ground on the second phase of its Modera Aventura project. Modera Aventura South will measure nine stories above grade and feature 251 apartments, ranging from one-bedroom to three-bedroom floorplans. Homes will span about 730 to 1,370 square feet. Future residents will have access to a suite of on-site amenities.
Miami Apartment Construction Surges To Top Spot In U.S.
Permits for more than 2,000 new apartments were issued in Miami last month, signaling a renewed sense of momentum in the multifamily sector. Miami had more units permitted during the past 12 months, at 7,257, than any other city or place tracked by RealPage in its analysis of Census Bureau data. More than a third of those permits, roughly 2,500, were issued in June alone.
Building By World Renowned Architect Proposed Near Lincoln Road
The owner of a prominent property in South Beach has filed plans for a residential building designed by a world renowned architect. The filing was submitted by a company controlled by Ambassador Paul Cejas, according to a Letter of Intent. It is proposed to include 210 residential units and about 7,000 square feet of ground floor retail. Design is by Mexican architect…
Biscayne Boulevard Property Approved For 47-Story Live Local Act Tower
Tulip Developments Group says it has obtained City of Miami approval for a 47-story Live Local tower in Edgewater. The new building will be built on several parcels, including 3350 Biscayne Boulevard. It will include 499 luxury and workforce housing rental units, along with 5,555 square feet of ground floor retail, according to a press release.
Two Brickell Towers Near Halfway Point Of Vertical Construction
Two towers rising in Brickell are near the halfway mark for vertical construction. Glass is also now being installed, photos show. The two towers include Lofty Brickell and the The Standard Residences, Brickell, which are connected by a podium. Both buildings now appear to be over the 20 floor mark. They are planned to rise to heights of 44 and 45 stories.
Mill Creek Sells Miami Apartments For $73M: The South Florida Deal Sheet
The Modera Skylar is one of a handful of multifamily complexes that traded hands last week. Boca Raton-based Mill Creek Residential and San Francisco-based Rockwood Capital sold the building for $73.5M to New York-based DRA Advisors, according to property records provided by Vizzda.
Miami Office Balances Growth with Strategic Repositioning
The Miami-Dade office market remained healthy in the second quarter of 2025 despite some ongoing macroeconomic uncertainties looming. Rents averaged $58.99 per square foot, a 3.7% jump year-over-year and a marginal 0.6% increase quarter-over-quarter. At the same time the vacancy rate dropped 30 basis points quarter-over-quarter, to 11.1%…
Ram Realty, Pinnacle Launch Luxury Miami High-Rise
Ram Realty Advisors and Pinnacle Communities have kicked off construction of a 16-story, 334-unit apartment building in Aventura, Fla., between Miami and Fort Lauderdale. The first units are slated for completion in mid-2027, with preleasing beginning early that year. Tall apartment tower with alternating white and gray columns with a highway and light rail line…
Miami-Dade Retail Softened in Q2 2025
Miami-Dade County’s retail market softened in the second quarter 2025, ending with a vacancy rate of 3.2%, up 20 basis points from the previous quarter. This can be largely attributed to negative net absorption that accumulated to 179,000 square feet, the lowest amount since 2020. Additionally, rents declined for the second quarter, down 2.3% quarter-over-quarter.
Miami Luxury Community ‘Fifteen’ Changes Hands
Premium Development Inc., the U.S. subdivision of European-based Premium Group, has sold Fifteen Apartments, a 132-unit Class A luxury multifamily community located in Miami. Walker & Dunlop brokered the transaction. The buyer and sale price have not been disclosed. Fifteen Apartment is the second U.S. property the company has sold in the Miami area.
Meet Alexandra Eichner, next in line at the Continuum Company
After joining her family’s development firm in 2020, Alexandra is about to complete her first luxury condo project in South Florida Developer Ian Bruce Eichner took his daughter, Alexandra, to the Little Beet in New York for veggie-forward bowls. Before accepting the invitation and picking the spot, she said, “Dad, no disrespect, but what’s the agenda?”
DWS’ Todd Henderson on shedding offices, investing in multifamily and single-family rentals
Firm’s real estate exec also talks about Rreef’s history, Trump administration’s tariffs and immigration policies German asset manager DWS Group and its U.S. real estate subsidiary Rreef are on an office selling spree, especially in South Florida. In February, Frankfurt-based DWS sold the Las Olas Centre I & II office towers at 350 and 450 East Las Olas Boulevard in downtown…
South Miami Staple Deli Lane Café To Be Demolished
For nearly 40 years, Deli Lane Café & Sunset Tavern has been the beating heart of South Miami — a place where families, friends, and entire generations have gathered for breakfast, brunch, or a late-night beer. Tucked along Sunset Drive and 59th Avenue, its brick-paved, one-way street feels like a scene ripped straight from a European postcard. Tables with umbrellas dot the charming…
Also, West Palm Beach’s Warehouse District gets a shake-up An Italian-inspired steakhouse and seafood restaurant will open at Lefferts’ recently completed 72 Park condo tower in Miami Beach. Ezio’s Steakhouse, co-founded by Brandon Hoy and chef Carlo Mirarchi, leased 2,200 square feet on the ground floor of the 22-story, 266-unit condo tower at 580 72nd Street…
‘Hillcrest Village’ in Final Stages of Approval for 1101 Hillcrest Drive in Hollywood
Florida YIMBY has an update regarding Hillcrest Village, an affordable housing development in Hollywood. Our sources share that the venture is in the latter stages of approval, pending review from city officials. If given the green light, Hillcrest Village would measure eight stories above grade, reaching 87 feet tall at its highest point.
Integra offers $21M stalking horse bid for distressed Pembroke Pines condo complex
Developer set the floor price for 25-acre Heron Pond that’s headed to auction next month Integra Real Estate offered $20.5 million for a sprawling Pembroke Pines condo complex in receivership, setting the floor price for an upcoming auction of the distressed property. Miami-based Integra — led by Nelson Stabile, Paulo Tavares de Melo, Victor Ballestas and Cory Yeffet…
Grover Corlew Breaks Ground on Mayla Cypress, a 312-Unit Residential Development in Fort Lauderdale
Grover Corlew has officially broken ground on Mayla Cypress, a 312-unit luxury multifamily development located at 6261 NW 6th Way in Fort Lauderdale’s Uptown Urban Village. The seven-story project is rising within the Cypress Creek business corridor on a 3.71-acre site formerly occupied by an underutilized office building. The groundbreaking follows the recent closing…
Category Five buys Sunrise multifamily portfolio for $32M
Aventura-based firm acquired four apartment properties with 184 units built in 1960s and 1970s Category Five Real Estate expanded its multifamily holdings after paying $32.3 million for a Broward County portfolio. Aventura-based Category Five, led by brothers Leon and Mike Peisach, acquired four properties consisting of 26 one- and two-story buildings with 184 apartments combined…
Cabot expands South Florida portfolio, pays $39M for Pompano Beach warehouse
Boston-based firm acquired 137K sf facility from Morgan Stanley Cabot Properties bought a Pompano Beach distribution center for $38.7 million, expanding its industrial holdings in South Florida. An affiliate of Boston-based Cabot, led by CEO Franz Colloredo-Mansfeld, acquired Pompano Business Center II, a 136,985-square-foot facility at 3001 West Copans Road…
‘Alton Delray’ Multifamily Planned for Industrial Area at 2101 S. Congress Ave in Delray Beach
Delray Beach-based Kolter Group is moving forward with a multi-family housing development in Palm Beach County. Alton Delray is set to feature five residential buildings: two six-story structures and three five-story structures. Together, they would offer 386 apartments, with 40 percent designated as workforce housing. According to Palm Beach County records…
Anheuser-Busch heirs buy Wellington equine facility for $25M
42.1-acre Palm Beach Equine Sports Complex last sold for $4.5M in 2004 Scions of the Anheuser-Busch family dropped $24.5 million on a 42.1-acre equestrian facility in Wellington. Records show PBESC LLC, a Florida entity managed by Stephen A. Orthwein Jr. and linked to his uncle, Peter Busch Orthwein, bought the Palm Beach Equine Sports Complex at 13056 Pierson Road.
Half the properties are in Broward and Palm Beach counties Bain Capital Real Estate and 11North Partners bagged 10 open-air shopping centers for $395 million, with the portfolio heavily weighted toward the Sunshine State and specifically South Florida, The Real Deal has learned. Boston-based private equity firm Bain and New York-based retail investment firm 11North…
‘The Sound Apartments’ Tops Out at 8111 South Dixie Highway in West Palm Beach
The Sound Apartments, an eight-story mixed-use project in Palm Beach County, has topped out. The development will span 675,000 square feet of new construction, comprising retail and residential space. Plans call for 358 residences, 25 percent of which (90) will be designated as workforce housing. Palm Beach County defines workforce housing as accommodations aimed…
Nora developers plan 122 condos, 350 apartments at West Palm Beach district
Projects mark the first ground-up resi construction at the 40-acre mixed-use development Place Projects’ Joe Furst, NDT Development’s Ned Grace and Wheelock Street Capital’s Merrick ?… Nora District developers plan a 122-unit condo building and a 350-unit apartment building, marking the first residential development at the mixed-use downtown West Palm Beach district.
Construction continues to progress at Alba Palm Beach, a 22-story condominium development at 4714 North Flagler Drive in the Northwood neighborhood of West Palm Beach. Designed by Spina O’Rourke + Partners, the project is being developed by BGI Companies, led by principal Kenneth Baboun, in partnership with Blue Road. Moss & Associates is serving as…
Marius Fortelni lands $60M loan for Jupiter townhouse project
Financing replaces a $47.5M construction loan scored last year for the 17-unit Forté Luxe Marius Fortelni’s Forté Development landed a $60 million construction loan for his planned waterfront townhouse project in Jupiter. Kriss Capital, a New York-based lender helmed by Jody Kriss, is providing the loan, according to a press release.
The Fed maps second quarter 2025 state and metro employment
On July 19, 2025, the Bureau of Labor Statistics released the second quarter data for total nonfarm employees at the state and metro levels. At the state level, 36 states experienced positive job growth and 14 experienced job losses. Texas led all states in job growth, adding 46,800 jobs in the second quarter. New Jersey had the largest decline, losing 10,700 jobs.
U.S. Office Market Poised for Recovery
As of midyear 2025, the U.S. office market fundamentals appear to have reached their lowest point, with varying levels of recovery anticipated during the latter half of the year. While vacancies remain elevated, the pace of increase is slowing, and fewer spaces are returning to the market compared to the period from 2021 to 2023. Average asking rents are beginning to stabilize.
In a recent interview on Bloomberg Television, Lowell Baron, the new chief executive officer of Brookfield Asset Management’s real estate business, discussed the return of mega deals in commercial office space and the need for more (commercial office space). The conversation revolved around the significant increase in property sales this year after a three-year lull…
U-Haul 2025 Midyear Migration Trends
Summer is moving season, and odds are you have seen a U-Haul® truck being unloaded at a home near you. Or perhaps you were the one moving. With nearly half of all residential moves in the U.S. occurring between Memorial Day and Labor Day weekends each year, the U-Haul midyear migration trends report answers the question: “Where did those new neighbors come from?”
15 Years of Occupancy Growth in Industrial, U.S. Market Rebalancing
Tenant move-outs and 71M SF of new supply pushed the U.S. industrial vacancy rate higher for the 12th straight quarter, rising by 26 basis points to 7.3%, the highest level since 2013. Supply-side pressure is pushing vacancy higher in some regions and markets than others, although vacancy is nearing its cyclical peak. Net absorption remained positive for the 60th consecutive quarter…
The Housing Market Slump and Its Effects on Storage Demand
Why do first-time buyers of single-family homes matter to self storage investors? In the storage industry, 70% of users are residential, and of those, 70% rent storage units because they are in the process of moving. This could be moving back home after college, relocating a parent to a senior living facility, or transitioning from an apartment to a first home.
How property technology is changing commercial real estate
While most executives are optimistic about their company’s performance, according to the J.P. Morgan 2025 Business Leaders Outlook Pulse, they’re also concerned about economic uncertainty, tariffs and rising costs. One potential solution for commercial real estate: property technology (or proptech). What is proptech? Proptech includes a range of solutions…
What the end of Energy Star could mean for commercial real estate
Most people think of Energy Star as the little blue sticker on their appliances that tells them they will see some measure of energy-efficiency savings on their utility bills. But Energy Star, a public-private partnership administered by the U.S. Environmental Protection Agency, is a lot more than that. Now it is reportedly on the chopping block as part of massive budget cuts proposed…
Report: Q2 Net Absorption Declines in North America Across All Property Sectors Except Multifamily
Lee & Associates’ 2025 Q2 North America Market Report looks back at shrinking (or negative) net absorption for industrial, office and retail sectors in the last quarter. Meanwhile, multifamily tenant demand beat previous expectations in the same three months, as a feared recession failed to materialize. The mix of factors for absorption varied by property type…