Crescent Heights scores $238M refi for luxury 588-unit apartment tower in Edgewater
Crescent Heights scored a $238.4 million refinancing for the luxury 588-unit Forma Miami apartment tower in Edgewater. The deal marks a continuing lending flurry in South Florida, despite elevated interest rates. Crescent Heights –– led by Russell Galbut, Sonny Kahn and Bruce Menin –– completed the 40-story Forma at 2900 Biscayne Boulevard in Miami last year…
Judge temporarily blocks downtown Miami land deal for Trump library
A judge temporarily halted the planned transfer of a valuable downtown Miami parcel slated for President Donald Trump’s future presidential library, intervening in a high-profile land deal involving public property. Miami-Dade Circuit Judge Mavel Ruiz issued the temporary injunction on Tuesday, the Associated Press reported.
Related Group CEO: A Live-Work-Play Hub in Wynwood, Miami’s Creative Core
For nearly five decades, Related Group has played a major role in shaping Miami’s skyline and residential market. In Wynwood, the developer is extending its reach with projects that respond to the neighborhood’s creative energy and to the evolving expectations of today’s renters. CEO Jon Paul Pérez oversaw the company’s entry into the district years ago…
56-Story Miami Tower Designed by Kobi Karp Planned for Overtown
A developer is floating a plan to erect the tallest building in the history of Overtown, Miami’s historically Black neighborhood. The Miami Beach-based David Om, LLC, which is managed by Alan Omsky, the founder of the “Asian-inspired” Kyu (pronounced “cue”) restaurants, has pitched the idea to build a 56-story tower at the northwest corner of NW 2nd Avenue…
What is driving South Florida’s commercial real estate market this year?
The South Florida housing market may be uneasy, but the regional commercial real estate market is on its best pace in three years. The pace of sales of commercial buildings in the industry’s four major categories grew over the first three quarters of the year compared to the same time period last year. Despite persistent concerns about the value of office buildings…
PortMiami faces crisis after fuel facility was sold to investment firm
PortMiami — one of the main revenue drivers for Miami-Dade County — faces a potentially existential threat: the absence of a place to store its fuel. Miami-Dade Commissioners on Thursday directed the county administration to look for any possible locations to build a fuel facility at the port after the county’s existing fuel depot was sold off just last month…
Drive to preserve PortMiami fuel given a legal stick
Facing the economic disaster of a pending loss of PortMiami’s sole fueling site, county commissioners last week authorized taking the present site on Fisher Island by eminent domain if pending mediation with the land’s new owner hits an impasse. Talks are to begin Oct. 20. After commissioners debated in September whether to order eminent domain before…
Miami Office Leasing Has Already Matched 2024’s Total, But Rent Growth Is Slowing
There was no time for brokers to take a dip in the pool or a trip to the spa this summer as office leasing jumped going into the second half of the year. There were 502K SF of office leases signed in Miami during July, August and September, up more than 200K SF from the second quarter, according to a CBRE report. On the year, office leasing activity has…
Distress call: Office rents tumble in Miami-Dade and Palm Beach counties in third quarter
A slumping South Florida office market has some landlords and developers seeking exit strategies. Asking rents tumbled in Miami-Dade and Palm Beach counties in the third quarter, as demand for office space plateaued compared to the same period of last year, a JLL report shows. Meanwhile, a handful of distressed properties traded, as some owners sought to cut their…
Brickell developer rebrands condo-hotel project
Developer Robert Thorne is rebranding his planned condo-hotel in Miami’s Brickell neighborhood and offering agents higher commissions, The Real Deal has learned. Thorne’s Miami-based Urban Network Capital Group is partnering with the Spanish hotel chain Meliá Hotels International for the 110-unit development planned for 1120 Southwest Third Avenue, he said…
Moishe Mana on hook for $6M-plus payment to Miami-Dade over decade-old land swap
Developer Moishe Mana could be on the hook for $6.6 million to Miami-Dade County tied to a decade-old land swap deal. Mana, who is considered the biggest landlord in downtown Miami and Wynwood, had made a deal with Miami-Dade to trade properties in Wynwood, and he was supposed to develop a Puerto Rican community center and other facilities on one of the lots. But the…
Retreat! Justin Rundle backs off fraud allegations against Canero principals
Justin Rundle is rescinding his accusations that his ex-business partners, the father-and-son team that leads Canero Group, allegedly committed fraud and misappropriated project funds in connection with six developments in Miami-Dade County. On Sept. 19, Rundle, son of Miami-Dade State Attorney Katherine Rundle, voluntarily dismissed his lawsuit against Jose Canero Sr…
Developers plan Live Local Act towers in Wynwood Norte, Overtown with nearly 800 units total
A pair of developers propose two separate Live Local Act projects in Miami with 791 units combined, continuing the flurry of applications under the state’s workforce housing law. In the Wynwood Norte neighborhood, Alexis Bogomolni’s ABH Developer Group wants to build the 36-story, 293-unit Wyn Park at 3311 and 3327 Northwest Second Avenue, 169 Northwest 33rd…
Lease roundup: Monarch Athletic Club coming to Rivani South Beach project
A gym and wellness club will open its first outpost outside of Los Angeles at The Rivani mixed-use building in South Beach. Monarch Athletic Club leased 8,000 square feet at Robert Rivani’s The Rivani building at 1691 Michigan Avenue in Miami Beach, where the tenant is expected to open next year, according to the landlord’s news release. Monarch, co-founded by Dr…
Billionaire Ken Griffin proposes private megayacht marina on Miami Beach’s Terminal Island
Billionaire Ken Griffin, who owns well over $1 billion of South Florida residential and commercial real estate, wants to open a private megayacht marina in Miami Beach. Griffin, through an affiliate, filed a proposal for a 30,000-plus-square-foot marina with four buildings at 120 MacArthur Causeway, a 3.7-acre site on the tip of Terminal Island. The facility will be…
Cofe beefs up South Florida industrial portfolio with $27M acquisition near Medley
Cofe Properties expanded its Miami-Dade industrial portfolio, purchasing two warehouse complexes in northwest Miami-Dade County for $26.8 million. An affiliate of Miami-based Cofe, led by Eugenio Cosculluela and Mario Fernandez, acquired Milam Dairy Commerce Center I and II at 6700 Northwest 72nd Avenue and 7205 Northwest 68th Street near Medley, according to the…
Hamilton plans office-to-industrial conversion in northwest Miami-Dade after $20M buy
In a sign of a lagging suburban office market in Miami-Dade County, Hamilton Development is planning to redevelop two distressed buildings into a pair of warehouses. An affiliate of Nashville-based Hamilton, led by Whitfield Hamilton, paid $20.4 million for an office building in the Flagler Station business park near Doral via a deed-in-lieu of foreclosure…
Rosso Development and Midtown Development, under the RM MP DEV VENTURE LLC, have filed plans with the City of Miami’s Urban Development Review Board for Midtown Park, a multi-tower mixed-use development set to rise across two phases at 3055 North Miami Avenue in Miami’s Midtown neighborhood. Encompassing approximately 1.17 million square feet, the proposal reveals…
Signature downtown Miami Bridge, double-decked 836 advance
The massive elevated roadbed of what is evolving into the new I-395 freeway is carving a dramatic course through the heart of downtown Miami. The Florida Department of Transportation (FDOT) reports progress on all three corridors of the sprawling I-395/SR 836/I-95 design-build project. Project completion is targeted for late 2029. This massive undertaking is the…
Vast American Dream Miami given boost via new area roads
Restrictions on funding for local roads in Northwest Miami-Dade that could benefit a long-awaited American Dream Miami mall were lifted last week as county commissioners were told the roads will permit pending state highway construction. The Florida Department of Transportation and the governor’s office are interested in doing significant work along I-75…
$30M Refinancing for Palmetto Industrial Park in Miami Secured
JLL Capital Markets has secured $30 million in refinancing for Palmetto Industrial Park, a six-building, shallow-bay portfolio located at 6801-7500 N.W. 77th Ave. in Miami. Melissa Rose, Jovi Rodriguez and Duncan Miller of JLL arranged the three-year, fixed-rate loan through an unnamed bank on behalf of the borrower, a joint venture between East Capital Partners and…
47-Story Tower At 3350 Biscayne Boulevard Heads To Miami’s Urban Development Review Board
Another residential tower designed under Florida’s Live Local Act is moving forward in Miami, this time in the Edgewater neighborhood. Tulip Developments Group’s planned 47-story high-rise at 3350 Biscayne Boulevard is scheduled for review by the city’s Urban Development Review Board on October 15. The project marks another Live Local Act tower with Kobi Karp…
$57.5M Financing Arranged for Publix-Anchored Shopping Centers in Miami Gardens & Tamarac
JLL Capital Markets has arranged a combined $57.5 million in financing for two Publix-anchored shopping centers in South Florida. Matt Casey, Paul Adams, Hunter Rich and Aaliyah St. Louis of JLL’s Debt Advisory team arranged the loans through Synovus Bank on behalf of the borrower, Atlanta-based Jamestown. The first property, Country Club Plaza in Miami Gardens…
$26.8M Sale of Industrial Complex in Miami Brokered
The Keyes Co. has brokered the $26.8 million sale of Milam Dairy Commerce Center I & II, a two-property industrial complex located in Miami. Milam Dairy Commerce Center I & II, which is situated at 6700 N.W. 72nd Ave. and 7205 N.W. 68th St., totals approximately 110,000 square feet across seven buildings. Tony Ulloa and Marcos Macias of Keyes Co. brokered the…
Coconut Grove Village Council Election Canceled for Lack of Candidates
A long-planned reboot of the Coconut Grove Village Council has suffered a setback after existing members failed to attract enough candidates to fill its vacancies. With only seven people declaring their candidacy for the council’s nine seats by the Sept. 12 deadline, the November election has been canceled, an official from the City of Miami Clerk’s Office has…
31-Story Tower with Workforce Housing Proposed for 824 Alton Road in Miami Beach
An affiliate of developer Crescent Heights intends to move forward with a high-rise tower with workforce housing in Miami Beach. The venture would measure 31 stories above grade and comprise 120 residences, 48 of which would be designated as workforce housing. Residency would be reserved for tenants earning at or below 120 percent of the area median income (AMI)…
Housing Trust Group advances all-affordable apartment development in Hollywood
Housing Trust Group won approval from the city of Hollywood for Hillcrest Village, an all-affordable, eight-story apartment development with 110 units in the city’s Hillcrest area. The Hollywood City Commission voted unanimously last week to rezone the Hillcrest Village development site, approve the proposed site plan, and modify a master plan for the planned…
Kushner advances development of 470-unit multifamily building and synagogue in Hollywood
Kushner Companies advanced a plan to develop a 470-unit multifamily building and a synagogue near the Seminole Hard Rock Hotel and Casino in Hollywood. The Hollywood City Commission last week approved a rezoning and a site plan for the development, which also would entail conversion of a historic house to a library. New York City-based Kushner, founded by Charles…
Fort Lauderdale’s Affiliated launches $250M fund for mixed-income multifamily projects
Affiliated Development is looking to raise $250 million to provide equity capital for mixed-income multifamily projects across Florida. Fort Lauderdale-based Affiliated, led by Nick Rojo and Jeff Burns, recently completed its initial round of capital fundraising, securing $50 million in commitments from municipal police and fire pension plans, a press release states…
Midtown Capital advances plan under Live Local for 300-unit apartment building in Plantation
Midtown Capital Partners advanced its plan to build 300 apartments, including 60 affordable housing units, on a parking lot at a Plantation office park, under the state’s Live Local Act. The Plantation City Council on Wednesday unanimously approved a site plan for the six-story multifamily development on a parking lot that has an industrial land use designation and…
13-Story ‘Opus at 701’ Proposed for 632 and 701 Bayshore Drive in Fort Lauderdale
New York-based CNB Contracting has plans for a high-rise residential building along Fort Lauderdale’s Intracoastal. Opus at 701 would measure 13 stories above grade and comprise 54 luxury units. Homes would feature multiple layouts, with the smallest residences featuring two bedrooms and the largest being penthouses. Floridian Development reports that the most…
‘Avery Cypress Creek’ to Offer 200 Luxury Homes at 6282 North Andrews Avenue in Fort Lauderdale
Hallandale Beach-based Meyers Accesso has plans for a multi-family housing development under the Avery banner in Fort Lauderdale. Avery Cypress Creek would comprise 200 residences, including luxury one-bedroom and two-bedroom apartments. The building would rise eight stories above grade and occupy a 2.2-acre lot that the developer purchased for $8 million. Collier…
Battle over Terra and Frisbie’s Boca Raton megaproject grows more contentious
Weeks after the Boca Raton City Council agreed to wait for a voter referendum on Terra and Frisbie Group’s proposed government campus redevelopment, the battle over the project is heating up. Local attorney Ned Kimmelman filed suit against Save Boca, the group leading opposition to the project, and its founder, Jon Pearlman, earlier this week. The suit, filed in…
Jeff Greene sues West Palm Beach to force approval for stalled condos
Billionaire developer Jeff Greene filed suit against West Palm Beach, alleging the city has improperly stalled approvals for his planned luxury condominiums. The developer said he believes Mayor Keith James is delaying the project as retaliation for Greene’s opposition to a city land deal with billionaire Steve Ross. The suit, filed this week in Palm Beach County…
Palm Beach Atlantic University and Gilbane have officially broken ground on a new 25-story residence hall that will house nearly 1,000 students. University leadership, board members, and student representatives gathered Wednesday at 1200 South Dixie Highway to celebrate the milestone, marking a major addition to the university’s growing campus in West Palm Beach…
‘Deco Northwood’ Multifamily Proposed for 2900 Broadway in West Palm Beach
A developer wants to proceed with a multi-family housing development under the Live Local Act in West Palm Beach. The project calls for an eight-story building with 167 units, 40 percent of which (about 67) would be designated as workforce housing. Palm Beach County defines workforce housing as housing available to households earning 60 to 110 percent of the area…
The industrial logistics landscape is undergoing a dramatic transformation as property owners and tenants invest in artificial intelligence (AI) tools to make each square foot more innovative, more resilient and more responsive. In doing so, these landlords and users are setting a new industry standard for efficiency and adaptability. Over the past few years, the…
Same Stuff, Different Generation – Millennials & Gen Z Drive Storage Demand
We spend significant time talking to new investors about the fundamentals of self storage. It’s a very American product, so if we are talking to a foreign investor who has heard of self storage but never seen it or used it, we start from the basics: who uses self storage? In the US, 11% of the population utilizes self storage, and over half of those users are…
3rd Quarter Forecast Impacted by FOMC’s Recent Rate Cut and Economic Insecurity
The political uncertainty that dominated the first three quarters of the year culminated on the last day of 3rd quarter with a long-feared outcome: a government shutdown. A prolonged shutdown could significantly impact the broader economy moving forward. However, 2nd quarter delivered a surprisingly strong upside, with the U.S. economy growing at an annualized rate of…
Major real estate developers are fast becoming power brokers
A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox…
National Retail Market Statistics | Q3 2025
National Director, Retail Services & Practice Groups Anjee leads over 500 retail professionals and 19 Speciality Practice Groups across 156 offices nationwide, providing strategic leadership in investment sales, agency, retailer representation, and asset repositioning advisory services. With 30+ years of specialized real estate experience internationally, Anjee…
Publix bags another South Florida shopping center with $72M Kendall buy
Shopping for South Florida strip malls anchored by its stores is a pleasure for Publix. An affiliate of Lakeland-based Publix, led by CEO Kevin Murphy, paid $71.9 million for Hammocks Town Center, a 207,470-square-foot shopping center anchored by a Publix supermarket at 10201 Hammock Boulevard, records show. The purchase is Publix’s latest acquisition in a buying…