How Foreign Investors Are Driving Miami’s Boom
Financial incentives, abundant opportunities and a business-friendly culture have made Miami one of the three most attractive U.S. commercial real estate markets for foreign investors. “Not only do we have the domestic investors from New York, Chicago and California but we also have investors from other markets bringing their wealth here because they see that Miami…
European Developer JV Reveals $650M Miami Tower
Miami Beach-based Prosper Group has formed a joint venture with Versluys Group to develop a 57-story, $650 million ultra-luxury waterfront residential tower in Miami. Versluys Group, based in Belgium, is a major European property developer, and this is its first project in the United States. The tower will rise over the Miami River in Brickell, the city’s financial…
Prosper Group, a Miami-based real estate firm led by Jay Roberts, has announced a joint venture with Belgium’s Versluys Group, one of Europe’s leading luxury property developers, to deliver a $650 million ultra-luxury waterfront residential tower on the Miami River in Brickell. The collaboration marks Versluys Group’s official entry into the United States market.
Prosper partners with Belgian developer on $650M Brickell luxury condo tower
Prosper Group is partnering with a Belgian developer on a planned $650 million luxury condo tower along the Miami River in Brickell, The Real Deal has learned. Versluys Group, led by CEO Bart Versluys and COO Peter De Decker, is a joint venture partner with Miami Beach-based Prosper Group, led by Jay Roberts, on the development of the waterfront assemblage at 99…
Crafting a Vision for Inclusion at SoMi Parc in Miami
For people with vision impairment, everyday life requires more than intuition. It relies on environments designed to guide movement, support safety and foster confidence. At Residences at SoMi Parc, a new community in Miami, architecture meets accessibility in ways that redefine what inclusive housing can look like. Developed by Related Group in partnership with Miami…
Struggling Malls Become Some Of South Florida’s Hottest Development Targets
Increased demand for housing and a scarcity of land have brought decades-old malls with acres of surface parking to the top of developers’ shopping lists. In the last year, three South Florida malls have announced or launched major redevelopments that will add thousands of new residential units and hundreds of hotel rooms around upgraded retail space to lure back…
Eichner’s Continuum sued over financing for North Miami condo buyout deal
Ian Bruce Eichner’s Continuum Company is being sued by a lender that alleges it’s owed more than half a million dollars in fees tied to the firm’s planned condo buyout in North Miami. Boston-based CW Investment Advisers filed a lawsuit against New York-based and Miami-based Continuum over the financing backing the $61 million buyout of the Mariners Bay condo…
Comras under contract for retail portfolio on Miami Beach’s Lincoln Road
Michael Comras’ company is under contract for a retail property portfolio on Miami Beach’s Lincoln Road. Miami Beach-based Comras Company is buying several properties from Morgan Stanley Real Estate Investing and Stephen Bittel’s Terranova, with the price pegged at about $140 million, Commercial Observer reported. The properties include 600, 719–737, 741…
Witkoff Group, and Alex Blavatnik and Sandor Scher’s Ocean Terrace Holdings launched sales of their planned North Beach condo and hotel development with more than $200 million in presales. Witkoff, led by CEO Alex Witkoff, joined the Ocean Terrace project earlier this year, reviving the long-planned mixed-use development. The project, designed by Revuelta…
A Canadian trade school will open its first U.S. campus in Miami’s Arts & Entertainment District. Skilled Trades College leased 30,000 square feet at Genting’s Omni Offices at 1501 Biscayne Boulevard, according to Colliers’ Kevin Gonzalez. The school is expected to open late summer next year. Gonzalez was part of the team that represented the landlord, and…
Here’s what led to Michael Shvo’s exit from the Raleigh Miami Beach project
In the fall of 2023, developer Michael Shvo told a crowd of real estate professionals that buyers were paying up to $12,000 per square foot for condos at the planned ultra-luxury Raleigh project in Miami Beach. “We probably have the most expensive product in Miami Beach,” Shvo said at The Real Deal’s Showcase and Forum. “We are seeing high-profile…”
North Miami Beach dev site approved for 1,217-unit megaproject hits market for $26M
A North Miami Beach development site approved for a 1,217-unit mixed-use megaproject hit the market for roughly $26 million, after a previous contract fell through and led to lawsuits, The Real Deal has learned. The nearly 3-acre site on the northeast corner of Northeast 163rd Street and Harriet Tubman Highway was home to North Miami Beach staple Laurenzo’s Italian…
Andrew Korge cancels $28M offer for former Rishi Kapoor dev site in Coconut Grove
Andrew Korge terminated his firm’s $28.2 million offer for a stalled mixed-use project site in Coconut Grove tied to disgraced developer Rishi Kapoor. An affiliate of Korge’s Miami-based KOR Development walked away from the potential purchase of the development site at 3120-3170 Commodore Plaza, a year after reaching an agreement with Bernice Lee, the…
Miami mayoral candidates jockey for real estate donations
After city leaders lost a summer-long legal skirmish to postpone Miami’s November election to next year, the mayor’s race and two city commission races are back on. Now, all eyes are on the battle royale to replace termed out incumbent mayor Francis Suarez, in a fight featuring 13 contenders. Seven candidates are new faces to Miami’s rough-and-tumble political…
Atlantic Pacific, Catholic church propose 600 affordable apartments in Leisure City
Atlantic Pacific Companies and the Archdiocese of Miami want to develop a 600-unit affordable apartment complex next to the St. Martin de Porres Catholic Church in Leisure City. Miami-based Atlantic Pacific and the Archdiocese of Miami propose the complex with five apartment buildings with roughly 120 units each at 28520 Southwest 148th Avenue in unincorporated…
L&L, Oak Row Open 1 MSF Wynwood Plaza Mixed-Use Campus
MIAMI — L&L Holding Co. and Oak Row Equities, along with project partners Shorenstein Investment Advisors and Claure Group, have opened Wynwood Plaza, a 1 million-square-foot mixed-use campus located at 95 N.W. 29th St. in Miami. The project is anchored by a luxury apartment community, shops and restaurants surrounding a half-acre public plaza and a 12-story…
ANF Completes 99-Unit Affordable Seniors Housing Community in Opa-Locka
Construction and development firm ANF has completed the construction of Wellspring Apartments, a new affordable seniors housing community located in Opa-locka, roughly 15 miles northwest of Miami. The Integral Group was the developer. Totaling 99 units, Wellspring Apartments features studio, one- and two-bedroom apartments. Residences are reserved for seniors earning…
One West Twelve Residences Breaks Ground In Miami’s Historic Overtown
Property Markets Group (PMG), in partnership with Lion Development Group and LNDMRK Development, has officially broken ground on One West Twelve Residences (ONE W12), a 372-unit residential development designed by CUBE 3 in the heart of Historic Overtown. The groundbreaking took place on October 1, marking the start of construction on a project that aims to blend…
Banco Santander getting Miami-Dade county incentives to add 250 jobs
Banco Santander, a global Spanish bank that is replacing its building at 1401 Brickell Ave. with a 40-story tower where it plans to create 250 jobs, has won $5 million in Miami-Dade County targeted jobs incentives. Salaries for the 250 new jobs are to average $115,000 plus benefits of $25,000 each. The real estate investment in the site is $290 million, the Beacon…
Revamped Coral Gables Mobility Hub rolls rapidly ahead
Following an update on new design components for the Coral Gables Mobility Hub, the city commission is moving forward with the next steps to commence construction. With a 3-2 vote in favor at this week’s commission meeting, M. Arthur Gensler Jr. & Associates Inc. presented new renderings of the proposed “Carved by Nature” design option that was previously…
As city of Miami delays transfer, Bayfront Park trust lives on
Following a summer decision to dissolve it, the Bayfront Park Management Trust’s Jan. 1 handover is being delayed to keep park programming and events running smoothly. Miami commissioners last week debated the upcoming transfer of the Bayfront Park Management Trust’s operations to city administration. They ultimately voted to withdraw the July ordinance…
Coral Gables City Hall heads rapidly toward restoration
Coral Gables officials were presented Tuesday with what they were told is needed to bring City Hall back fully restored and operational. A detailed rundown of damages and recommended repairs for City Hall was explained by Richard Heisenbottle, founding president of R.J. Heisenbottle Architects, who is head of the historic building’s repair assessment and design…
47-story Edgewater residential tower wins board approval
A new mixed-use residential tower planned for Edgewater is bringing needed affordable housing to Miami, along with ground floor retail. Tulip Developments Group LLC is the owner-developer of 3350 Biscayne, designed for a vacant property at 280 NE 34th St. The tower is to rise 47 stories and be home to 499 residential units, 5,555 square feet of commercial-retail…
In Miami, the fans don’t sing Take Me Out to the Ballgame
With the baseball season ending, fans watching the World Series this week were inundated with statistics. No other sport pays as much attention to percentages and numbers and records of every player and team and trend and how long the records have stood. We even learn about audiences. Between 15% and 25% of the Canada’s entire population has viewed on television…
Vertical construction is now underway on Smart Brickell Luxe, the third and final tower within the Smart Brickell development in Miami’s Brickell neighbourhood. Designed by Ginard Studio and developed by Habitat Group, the project is rising at 885 SW 3rd Avenue, with permits filed under 267 SW 9th Street. The tower represents the culmination of the Smart Brickell…
68-Story ‘Calle 8’ Skyscraper Gets Refined Design and Program in Latest Miami-Dade County Filing
New filings with Miami-Dade County reveal an updated vision for Calle 8, a 68-story mixed-use tower proposed at 190 Southwest 8th Street in Miami’s Brickell neighborhood. The project is being developed by Millennium Developments of Brickell, an affiliate of G&G Business Developments, the same firm behind Aston Martin Residences in Downtown Miami. The design is…
Cipriani Residences Miami Reaches Halfway Mark as 80-Story Tower Rises Over Brickell
Cipriani Residences Miami continues its steady vertical rise at 1420 South Miami Avenue, reaching the halfway mark of construction as the structure climbs past its 44th level. Developed by Mast Capital, the 80-story, approximately 940-foot-tall tower is designed by Arquitectonica, with interiors by 1508 London, structural engineering by Thornton Tomasetti, and Moss…
Atlantic Pacific Companies in partnership with the Archdiocese of Miami has plans for an affordable housing development in Leisure City. The project, called St. Martin de Porres Residences, would comprise 600 apartments spread among five buildings measuring four and five stories. They would comprise 120 units each. The multi-family development would also feature…
80-Story Cipriani Residences Tower Already Halfway Up: ‘One Of Fastest In Miami History’
A Brickell supertall tower has reached the halfway point of vertical construction, in what is being called one of the fastest vertical construction paces in Miami’s history. Cipriani Residences Miami is racing skyward, climbing one level every three working days. The building is using a next-generation, self-climbing slip form system that allows the…
3D Zoning: Miami’s TSND Legislation Expands Toolbox for Transit Oriented Development
On July 24, 2025, the City of Miami adopted new legislation establishing Transit Station Neighborhood Districts (TSNDs), intended to accelerate transit-oriented development near current and future rail stations. This “TSND Legislation” gives developers a powerful new tool, complementing Florida’s Live Local Act and Miami-Dade County’s expanding Rapid Transit Zone…
Joint Venture Announces Plans For $650M Ultra-Luxury Tower In Brickell
A joint venture has been formed to develop a new tower in Brickell, according to a press release. Prosper Group of Miami said it was forming a partnership with Belgium’s Versluys Group for the new development. The new tower is planned on three parcels – 99 SW 7th Street, 66 SW 6th Street, and 625 SW 1st Avenue – which Prosper Group acquired earlier this year. It…
600 Miami Worldcenter Tops Off, Around 18 Months After Groundbreaking
Another tower at Miami Worldcenter has topped off. The building is known as 600 Miami Worldcenter. It broke ground in March 2024, with vertical construction beginning around six months later. The structure now stands at 32 stories, after a top-off ceremony held in September. Contractors are now continuing with interior build-out. 600 Miami Worldcenter will have 606…
Billionaire Ken Griffin has revealed new details about a mixed-use Brickell supertall tower his company is planning, while also continuing to praise the region. Griffin’s Citadel relocated to Miami in 2022, and he is now planning a new headquarters building for the company. “That’s going to be around a $2.5 billion tower,” Griffin told…
Plans Submitted For 1,100 Apartments at Palmetto Metrorail Station in west Miami-Dade
Another major transit-oriented-development is planned at a Metrorail station. A filing for site plan approval was submitted to Miami-Dade on October 21. The development is to be built on land leased from Miami-Dade at Palmetto Station. It is planned to include: 1,141 residential units (805,056 leasable square feet, average size 706 square feet) …
Bayside Lease Amendment Possible With ‘New Alternative Development Proposal’
Miami commissioners are scheduled to have a hearing on a proposal that could see Bayside’s lease modified. According to the text of a proposed resolution, the city manager could be authorized to negotiate and execute the lease amendment. The amendment could include “Tenant’s new alternative development proposal in lieu of a Tower,” the resolution states. The…
National Securities Exchange Opens First Miami Trading Floor
A securities trading floor is now open in Miami. MIAX Sapphire opened the 38,400-square-foot options trading floor in Wynwood last month. The company is the first national securities exchange to open a trading floor in Miami. The facility is also only the second open outcry trading floor to launch in the last 50 years. “Miami is quickly emerging as a major global…
Fort Lauderdale International Boat Show touts $1.8 billion of economic impact
The Fort Lauderdale International Boat Show is kicking off its 66th year and runs from Oct 29- Nov 2. The show will have around three million square feet of exhibit space across seven locations, the Bahia Mar Yachting Center, Las Olas Marina, Hall of Fame Marina, Superyacht Village at Pier 66 South, Pier 66 Marina, the Broward County Convention Center and the 17th…
Sotherly defaults on DoubleTree Hollywood’s $49M loan
Sotherly Hotels defaulted on its $49.2 million loan on a Hollywood resort near the ocean. The debt on the 10-story DoubleTree Resort by Hilton Hollywood Beach with 311 keys, at 4000 South Ocean Drive, entered special servicing after missing the Oct. 1 due date to pay off the loan, according to Morningstar Credit and Sotherly’s second quarter Securities and Exchange…
Astor Park Tops Out At 333 Northeast 6th Street In Fort Lauderdale’s Flagler Village
Astor Park, formerly known as Advantis Station, has officially topped out at 333 Northeast 6th Street in Fort Lauderdale’s Flagler Village. Developed by Midtown Capital Partners and designed by Baker Barrios Architects, the 12-story, two-tower mixed-use development occupies a 1.42-acre site across from Peter Feldman Park within one of the city’s most active urban…
Blackstone Sells Palm Beach Apartments For $193M: The South Florida Deal Sheet
Blackstone sold a Palm Beach apartment complex for $90M more than it paid eight years ago. The New York-based investment giant sold the 476-unit San Marano at Mirasol Apartments to TA Realty for $193M, according to property records provided by Vizzda. This is the second time TA Realty has owned the multifamily community, after buying it in 2010 for $69M and then…
Terra, Frisbie scale back controversial One Boca megaproject proposal
Terra and Frisbie Group presented a scaled back plan for their proposed One Boca megaproject in Boca Raton, slashing the housing and office components in the development. It marks the latest iteration of the developers’ February plan to redevelop Boca Raton’s city government campus at 201 West Palmetto Park Road. The new proposal calls for 769 apartments, 186…
13th Floor, partners score $139M refi for 420-unit apartment complex in Delray Beach
13th Floor Investments and its partners scored a $139 million refinancing for a 420-unit apartment complex in Delray Beach, amid a continuing lending flurry in South Florida. Coconut Grove-based 13th Floor, Brickell-based Key International, West Palm Beach-based Wexford Real Estate Investors and Boca Raton-based CDS International completed the Savio apartment complex…
Related, BH seek height bonus for planned 27-story condo in West Palm Beach
Related Group and BH Group are dangling $4.8 million for park and public transit improvements in West Palm Beach to score approval for a 27-story waterfront condominium. The joint venture is seeking a height bonus of 195 feet for a 0.8-acre development site at 2001 North Flagler Drive that is currently zoned for a building capped at 111 feet tall, according to recent…
TA Realty buys 476-unit apartment complex in Palm Beach Gardens for $193M
TA Realty picked up a 476-unit apartment complex in Palm Beach Gardens for $193 million, marking a continuing uptick of multifamily investment sales in South Florida. Boston-based TA Realty bought the gated garden-style community at 100 Portofino Drive from New York-based Blackstone, according to records and real estate database Vizzda. The deal breaks down to…
TA Realty buys 476-unit apartment complex in Palm Beach Gardens for $193M
TA Realty picked up a 476-unit apartment complex in Palm Beach Gardens for $193 million, marking a continuing uptick of multifamily investment sales in South Florida. Boston-based TA Realty bought the gated garden-style community at 100 Portofino Drive from New York-based Blackstone, according to records and real estate database Vizzda. The deal breaks down to…
Three developers to compete for Riviera Beach land
Forest Development, Kenco Communities and a partnership led by Frontier Development & Hospitality Group will make presentations to Riviera Beach officials next month, as they compete to acquire 2.2 acres of vacant publicly owned land near the waterfront. Riviera Beach’s Community Redevelopment Agency received five proposals in response to a request for offers to…
Construction has started on the Waterview Apartments in Mangonia Park, a multi-family rental development for low-income seniors and disabled adults in West Palm Beach. Developers Sun Foundation, Inc. and Rich Global are proceeding with a $54 million community that would feature a six-story building with 140 residences. Per county records, 56 units would be reserved…
Developer Proposes Three-Tower Mixed-Used Project at 3140 Lake Shore Drive in West Palm Beach
KMG Holdings, LLC has plans for a massive mixed-use development in Riviera Beach. The project has been in the works since 2018, initially imagined as a single tower. Now, after much consideration, it has evolved into something much bigger. The Waterway would feature three towers. The two 21-story towers would measure 260 feet at their highest points, comprising 239…
Is Industrial CRE Benefiting From Tariffs and Reshoring?
It’s one of the overarching—some may say looming—themes of 2025: tariffs. The situation seems to evolve by the day, with the Trump Administration often sending mixed signals on whether the purpose of the levies is to return manufacturing to the U.S. or boost tax revenues. The industrial real estate sector has been closely watching tariff developments to evaluate…
What Multifamily Investors Should Know About Self Storage
If you’re invested in multifamily real estate, you already likely understand the benefits of recurring income, property appreciation, and long-term demand for housing. But there’s another property type that shares many of these advantages, while offering some unique benefits that may help balance and strengthen your portfolio: self storage.For decades, many…
BBX Sells Off Industrial Arm To FRP Holdings For $33M
BBX Capital, which develops multifamily properties and owns nationwide candy retailer It’sugar, has sold its industrial portfolio and the team that operates it in a $33.5M deal. Fort Lauderdale-based BBX sold Altman Logistics Properties to Jacksonville- and Baltimore-based FRP Holdings Inc., the companies announced Wednesday. FRP bought stakes in five industrial…
Property Owners Caught In The Middle Of Florida’s New Open-Carry Law
Todd Nepola had always noticed the “no firearms or weapons” signs bolted to the walls of Aventura Mall, but he had never thought to do the same at the 95 retail properties his company, Current Capital Real Estate Group, owns and manages around the state. Until last month, when his tenants started calling him. That’s when a Florida appeals court struck down the…
U.S. Apartment Demand Nationally Fell Notably Short of Supply in 3rd Quarter
U.S. apartment demand slowed in 3rd quarter, coming in well behind concurrent supply volumes. A little over 42,430 market-rate units were absorbed in the July to September time frame. This performance was about half the decade average for the market and quite a slowdown from what the U.S. has seen in much of the past two years. This pullback seems to be driven largely…
Recovery Trends Strengthen Across U.S. Markets
The U.S. office market is moving closer to recovery as more regions experience occupancy gains. Manhattan continues to lead the country, with pre-pandemic levels of leasing activity driving significant absorption and lowering vacancy rates. Select markets are beginning to see speculative construction starts as developers project future growth and expansion in those…
How the Evolution of Design Is Transforming Retail
Retail spaces have changed dramatically over the past decade. Enclosed environments, once leading the trend in the industry, have been traded for open-air environments. Many properties that were once solely occupied by retail tenants now have multiple uses, including entertainment, office, multifamily and hotel. In a time when it’s tough to develop, smaller…
Video: Nareit SVP of Research Ed Pierzak Provides REIT Insights & Market Trends
The commercial real estate landscape is constantly evolving, influenced by a myriad of factors including economic shifts, policy changes, and market dynamics. A recent episode of America’s Commercial Real Estate Show delved into the performance and outlook of Real Estate Investment Trusts (REITs), a critical component of the real estate investment landscape. The…
Brightline Introduces New Short Distance Train Network
Brightline says it has introduced new dual network service in the Miami area as of October 6. The company now operates the new train service running exclusively on the short-haul route between Miami and West Palm Beach. Brightline has also changed its short distance pricing structure, offering peak and off-peak prices at fixed times. As of this morning, Brightline’s…