Miami-Dade to consider no-bid deals for Swerdlow, Pinnacle to redevelop public housing complexes
Swerdlow Group and Pinnacle propose separate projects to redevelop six public housing complexes in Miami-Dade County with more than 1,000 below-market rate apartments and for-sale homes. The pair are the latest to file plans to Miami-Dade through the federal Rental Assistance Demonstration program, which allows municipalities and counties to redevelop and modernize…
Lennar plans 146 townhomes near south Miami-Dade’s Navy Wells Pineland Preserve
Lennar plans a complex with 146 townhomes in south Miami-Dade County. The project marks the homebuilding giant’s continuing development in south Miami-Dade, where Lennar already is the top residential builder. Miami-based Lennar wants to develop the community, called Villas De San Diego, on a 12-acre site on the southeast corner of Southwest 355th Street and…
Lease roundup: New food hall will open at Time Out Market’s former South Beach space
A new food hall will open in the former Time Out Market space in Miami Beach. City Food Hall leased the 20,900-square-foot space near Lincoln Road, where it will open in the summer of next year, according to a news release from the tenant’s broker. The venue is at 1601 Drexel Avenue. Irma Figueroa of Comras Company represented the tenant, and Dillon Maya of Avenue…
The Weekly Dirt: Mamdani effect takes center stage in Miami
New York City’s Mayor-elect Zohran Mamdani was on the minds of Miami developers, brokers and billionaires last week. His win on Tuesday has fueled a number of memes and social media posts claiming that a mass exodus of wealthy New Yorkers to Florida is already underway. He’s promised to freeze rents on rent-stabilized buildings and increase corporate and income…
Blackstone offloads Aventura senior living facility at $37M loss
Blackstone held a fire sale on an Aventura senior living facility, selling the site for a $36.5 million discount. Aventura-based BH Group, led by Isaac and Liat Toledano, and Fort Lauderdale-based Gold Standard of Care bought Sterling Aventura at 2777 Northeast 183rd Street in Aventura for $12 million, a source close to the transaction told The Real Deal. New Wave…
Multifamily developers Bruce Menin, Erik Rutter and Joe Lubeck say South Florida needs more housing, but skittish equity investment is among the many barriers to entry. The trio, who spoke during The Real Deal Miami Real Estate Forum 2025, pushed back on the notion the tri-county region is struggling with a supply overhang due to hefty completions in recent years.
“Built on cash”: How developers survive the squeeze in Miami
Real estate industry experts pushed back on the theory that a bubble is forming in Miami that’s about to burst. “This market is built on cash,” said market analyst Ana Bozovic, founder of Analytics Miami, at The Real Deal’s Miami Real Estate Forum. Bozovic spoke on a panel about how developers can survive the market crunch in Miami in a conversation moderated…
Top condo developers Ugo Colombo and Camilo Miguel Jr. say another wave of New Yorkers is headed to South Florida following Zohran Mamdani’s mayoral election win. But the influx will fall short of that during the pandemic, which propelled South Florida’s market to new heights. “It’s certainly top of mind for New Yorkers to move to South Florida,” Miguel…
“We thought, OK, we’re gonna plateau. Nope”: Experts dissect South Florida’s office market
After the pandemic ignited a surge in new-to-market tenants from states such as New York and California to South Florida, Donna Abood believed that the spike would eventually subside. “When we got up to this pinnacle, we thought, ‘OK, we’re gonna plateau,’” Abood, vice chairman and co-head for Savills Florida, recalled while on the main stage at The Real…
“Back like a Phoenix”: South Florida office investment sales pick up, distress and discounts linger
South Florida’s office market experienced an uptick in investment sales over the past year, marking a comeback after a slowdown. Yet, distress and discounted deals are lingering, as elevated interest rates and other economic headwinds remain. Deal volume reached nearly $2.2 billion in the tri-county region in the 12-month period that ended Sept. 30, marking a 28…
Matt Ferrari Launches PXV Multifamily in Miami, Aims for $2B in Acquisitions
After nearly a decade at TruAmerica Multifamily, where he rose to co-CIO, real estate investment veteran Matt Ferrari is launching PXV Multifamily, a private multifamily investment and operating firm with plans to acquire up to $2 billion in assets over the next three years. As founder & managing partner of the new Miami-based firm, he’ll be targeting assets…
Dezer Lands $630M for Bentley-Branded Condo Tower in Sunny Isles Beach
Dezer Development has secured a $630 million construction loan to develop the first Bentley-branded condo tower in Sunny Isles Beach, Fla. Madison Realty Capital issued the note marking the largest financing deal in South Florida so far this year. Berkadia brokered the transaction. Currently, site preparations and tower foundation are nearing completion. Designed by…
Will South Florida’s real estate market benefit from Mamdani’s victory?
Mavens of the local real estate scene gathered in Miami on Wednesday with a gleam in their eyes. The night before, voters had cast ballots in an election that some brokers and developers speculated could fuel demand for South Florida property. The Miami mayoral election? Nope. The one 1,300 miles north, in New York City. “That seems to be all that people…
Miami-Dade County tourism is up thanks to visits from other Floridians
Miami-Dade County played host to more tourists in the just-completed fiscal year than it did a year earlier. And the hospitality industry hopes a big line-up of sports events will help boost business in the year ahead. Total tourism was up 5% thanks to more people from other places in Florida visiting the area. Visits from other states and from overseas provided a…
TruAmerica’s Matt Ferrari Launches New Miami-Based Multifamily Firm Targeting ‘Mismanaged’ Assets
Scaling Mount Everest and founding his own company are two challenges Matt Ferrari chose to tackle in the same year. After nine years with TruAmerica Multifamily, Ferrari has left his role as co-chief investment officer and head of East and Central region asset management to launch PXV Multifamily — a new private multifamily investment and operating firm…
OKO Group, Cain Lining Up $600M Loan For 830 Brickell
Cain International and OKO Group are looking to cash in again on 830 Brickell. Goldman Sachs and JPMorgan Chase are looking to originate a roughly $600M loan for the 57-story, 640K SF trophy building as a potential standalone CMBS offering, Green Street reports. The developers have been in the market for a $605M, floating-rate loan that could run five to seven…
Bankrupt Miami Site on Biscayne Blvd With Potential For 82-Story Tower Hits Auction Block
A fully entitled redevelopment site on Biscayne Boulevard is seeking buyers for a second time after its owners filed for bankruptcy last year. Concierge Auctions is marketing the 0.9-acre site at 340 Biscayne Blvd., which is occupied by the Holiday Inn Port of Miami-Downtown, seeking $175M. The site’s zoning allows for an 82-story project and is already approved…
South Beach Hotel Sells For A Discount: The South Florida Deal Sheet
The nearly 90-year-old Fairwind Hotel Miami in South Beach sold for 26% less than when it last traded in 2021. Entities linked to Tony Di Piazza and Private Exchange Group purchased the 150-room hotel, which was built in 1936, for $31M, according to property records provided by Vizzda. The sellers were three LLCs tracing to Israel Katz, a Ramsey, New…
29 Indian Creek Breaks Ground at 2901 Indian Creek Drive in Miami Beach
Trinity Southern, in partnership with JMH Development and exclusive sales and marketing by SERHANT. New Development, has officially broken ground on 29 Indian Creek, located at 2901 Indian Creek Drive in Miami Beach. Designed by Urban Robot, which also leads interior and landscape design, the project will comprise 22 total residences, including 20 one- and two-bedroom…
High-end office space seen as key to meeting Miami area demand
High-end office spaces in markets like Wynwood and the flight-to-quality trend where investors seek newer, well-located properties, often Class A, that offer premium amenities are key drivers for demand in the commercial real estate market. The overall office vacancy rate in Miami fell to 15% at the end of the third quarter of 2025, which runs from July through…
Wynwood retail sees major shifts
Wynwood store owners are seeing a dramatic shift in the retail scene as the vibrant Miami neighborhood sprouts new construction projects, including residential buildings, apartments, commercial spaces and an increase in rent. Mariano Diaz is the owner of Wynwood Soul, an art and clothing store at 2301 NW Second Ave. “We are going through the worst time period in…
Unexpected cuts at Miami-Dade county parks draw rebuke, probe
Miami-Dade parks fund cuts that commissioners were assured during heated summer budget talks had been restored actually still exist, Chairman René García told the county’s Recreation and Tourism Committee on Monday as he called for more detailed reports and a meeting with the mayor. Though the administration’s message is that parks cutbacks are a direct…
Jorge Arrizurieta: CEO looks to build Coral Gables Chamber of Commerce
Newly appointed President and CEO of the Coral Gables Chamber of Commerce Jorge Arrizurieta brings with him a history of leadership positions in business, civic and community affairs. He was chosen following a national search that included about 40 candidates. “It is an honor for me to succeed such an accomplished and beloved leader as Mark Trowbridge, who passed…
Dezer Development has closed on a $630 million construction loan for Bentley Residences, the world’s first Bentley-branded residential tower under construction in Sunny Isles Beach. The financing, issued by Madison Realty Capital and arranged by Berkadia South Florida, represents the largest construction loan in South Florida so far this year. Designed by Sieger…
Construction Begins On Alton Biscayne, A 12-Story, 336-Unit Residential Development In North Miami
Construction is now underway on Alton Biscayne, a new 12-story luxury residential community taking shape at 11240 Biscayne Boulevard in North Miami, near Biscayne Shores. Designed by Cohen Freedman Encinosa and developed by Kolter Multifamily, a division of Kolter Group, the project will deliver 336 apartment units and a 7-story parking garage to one of the city’s…
Alta Development Plans ‘Vista Harbor Residences & Yacht Club’ for 555 NW S River Drive in Miami
Alta Development hopes to get approval for a high-rise luxury condo on the Miami River. Vista Harbor Residences & Yacht Club would measure 12 stories above grade and comprise 234 residences, with most homes spanning under 720 square feet. While sales are expected to officially launch within 30 days, sources note that the smallest units (studios) would be priced…
Pre-Application Filed For 5-Story Affordable Housing Project At 6650 NW 26th Avenue In Miami
A pre-application filed on November 4, 2025, outlines plans for a five-story affordable housing project tentatively named Ruby Development at 6650 NW 26th Avenue in Miami’s Liberty City neighborhood. The filing was submitted by Tacolcy Economic Development Corp. (TEDC), which is partnering with the property owner to deliver the project. A pre-application meeting has…
Oak Row Equities and LNDMRK Development have broken ground on 2900 Terrace, a premier luxury multifamily tower located in Miami’s Edgewater neighborhood. The milestone follows the closing of a $210.5 million construction financing package, consisting of a $142.5 million senior loan from Bank OZK and a $68 million mezzanine loan from Canyon Partners Real Estate. The…
Lotus House Opens The Children’s Village In Miami’s Overtown Neighborhood
Lotus House, the nation’s largest women’s homeless shelter and a leading model for holistic shelter services, has announced the opening of The Children’s Village at Lotus Village, an innovative education and resource center designed to serve the shelter’s children as well as families in the surrounding community. The 71,000-square-foot facility aims to advance…
South Florida-based developers CMC Group and Fort Partners have officially broken ground on Four Seasons Private Residences Coconut Grove, marking the beginning of construction for the highly anticipated luxury development and the opening of its new sales gallery. The project represents Four Seasons’ first standalone residential offering in Florida and is expected…
Namdar Group Advances Two-Tower Project at 50 N.E. 3rd Street in Miami
Developer Namdar Group has secured $460 million in financing for a two-phase mixed-use venture that will deliver more than 1,000 apartments to downtown Miami. Plans call for two 43-story towers connected on floors one through eight, with the complex itself spanning more than 700,000 square feet. Both towers are currently undergoing construction, with the first phase…
74-Story ‘619 Brickell’ to Offer 300 Luxury Condos at 619 Brickell Avenue in Miami
Nobu Hospitality, in partnership with Key International and 13th Floor Investments, is moving forward with its first branded residential endeavor in Miami. Upon completion, the multi-million-dollar venture would be one of the tallest buildings in Brickell. 619 Brickell is a 74-story skyscraper set to feature 300 luxury one-bedroom to four-bedroom residences.
Kimco advances 280-unit planned apartment development at Hollywood shopping center
Kimco Realty Corporation advanced plans to build an eight-story apartment building with 280 units at its Oakwood Plaza shopping center in Hollywood. The Hollywood City Commission on Wednesday approved Kimco’s design and site plan for the multifamily development, part of the company’s master plan to redevelop the 1990s-era shopping center as a mixed-use property.
JPMorgan joins investors’ Coral Springs shopping center spree with $54M purchase
JPMorgan joined a recent wave of buyers picking up shopping centers in Coral Springs. An affiliate of New York-based JPMorgan, led by CEO Jamie Dimon, paid $53.7 million for Shoppes at Heron Lakes at 5601 to 5791 Coral Ridge Drive, records and real estate database Vizzda show. The financial giant paid $369 a square foot for the pair of single-story retail buildings…
Plans have been submitted to the City of Fort Lauderdale’s Development Review Committee for a new, expanded home for the Las Olas Chabad Jewish Center. Located along East Las Olas Boulevard in Broward County, the proposed three-story, 70-foot-tall building will replace the Chabad’s current facility at 1302 East Las Olas Boulevard, relocating approximately 200 feet…
‘Cocogate Apartments’ Poised to Replace Bulk of Cocogate Plaza at 1350 N. State Road 7 in Margate
Coral Springs-based White Oak Development has plans for a mixed-use project that would replace a 1970s-era shopping center with apartments. Cocogate Apartments would replace an 87,771-square-foot retail plaza with a six-story, 312,927-square-foot residential building. The community would host 287 residences, 41 of which would be designated as workforce housing for…
Pinnacle Sells Elyps Luxury Apartments in Fort Lauderdale for $46.5M
Miami-based developer Pinnacle has sold Elyps Apartments, a 140-unit luxury community in Fort Lauderdale, for $46.5 million. The buyer was Ram Elyps LLC, an affiliate of Rental Asset Management (RAM). CBRE represented Pinnacle affiliate, Bimini Cove LLC, in the transaction. Completed in 2023, Elyps offers one- and two-bedroom floorplans…
BH under contract to purchase shuttered Wellington golf course for $20M-plus
BH Group is buying a shuttered golf course in Wellington that was a source of controversy under a previous owner, developer Glenn Straub. Aventura-based BH, led by Isaac and Liat Toledano, is under contract to acquire Wellington’s 150-acre former Polo West Golf Course for more than $20 million, a source familiar with the transaction told The Real Deal. The firm has…
Abacus Capital scores $78M construction loan for Palm Beach Gardens project
Abacus Capital broke ground on its Palm Beach Gardens apartment project after nabbing a $77.5 million construction loan. Affiliates of Beverly Hills, California-based Kennedy Wilson and Toronto-based Fairfax Financial provided the financing for Arbor House, a planned 13-story building with 302 units and an eight-story garage with 480 parking spaces at 3701 Catalfumo…
Gatsby unveils plans for Palm Beach Gardens mixed-use project
Gatsby Florida is anticipating an influx of New York office tenants for its planned mixed-use project in Palm Beach Gardens in the wake of Zohran Mamdani’s mayoral victory. Miami-based Gatsby, led by co-founders Isaac Shalom and Babak Ebrahimzadeh, finalized construction plans for The Modern at Palm Beach Gardens, a 220,000-square-foot building and an adjacent…
West Shore buys 542-unit apartment complex in Palm Beach Gardens for $118M
West Shore bought a 542-unit apartment complex in Palm Beach Gardens for $117.9 million, marking a continuing uptick of multifamily investment sales in South Florida. Boston-based West Shore bought the Palm Beach Gardens Apartments at 4120 Union Square Boulevard from Aventura-based Advenir, according to records and real estate database Vizzda. The buyer borrowed a…
Macquarie, Vanderbilt sell Boca Raton dev site planned for 300-unit apartment project for $21M
Macquarie Capital | Principal Finance and Vanderbilt Office Properties sold a multifamily development site approved for nearly 300 units in Boca Raton for $21.2 million. NADG, or North American Development Group, bought the 6.8-acre site at 1800 North Military Trail, according to records and real estate database Vizzda. The land shares the same lot as a four-story…
Here is Riviera Beach’s residential development pipeline
Riviera Beach is cashing in on South Florida’s development boom. West Palm Beach’s northern neighbor and home of the Port of Palm Beach has nearly 2,000 condos and apartments in the development pipeline, according to analysis by The Real Deal. And there’s still more to come –– the city is courting developers for its 90-acre Marina Village project, a…
Gatsby Florida to Develop Palm Beach Gardens Office Tower
Gatsby Florida has completed the development plans for The Modern at Palm Beach Gardens, a 220,000-square-foot luxury office tower in Palm Beach Gardens, Fla. Construction is scheduled to begin in January 2026, while delivery is slated for late 2027. A Gatsby affiliate purchased the 7-acre development site in 2022, The Real Deal reported. Catalfumo Cos. sold it for…
Abacus Capital Secures $78M for West Palm Beach Development
Arbor House, a 302-unit upscale project in Palm Beach Gardens, Fla., became the subject of a $77.5 million construction loan. Developer Abacus Capital Group secured the note for the multifamily development, according to The South Florida Business Journal. JLL Capital Markets arranged the four-year, floating-rate loan on behalf of the borrower, through a publicly…
Northern Palm Beach County Medical Office Building Report 25Q3
The medical office market in Northern Palm Beach County strengthened in Q3 2025 as vacancy fell to 3.9%, down 60 basis points from last quarter and well below the countywide rate of 7.0%. Net absorption rebounded to 16,805 square feet after two soft quarters, while rents rose 1.4% to $37.30 per square foot, up 7.4% year-over-year and nearly 20% above 2020 levels.
Southern Palm Beach County Medical Office Building Report 25Q3
In Q3 2025, the Southern Palm Beach County medical office market showed signs of stabilization after a slow start to the year. Vacancy decreased to 8.7% from 9.1% in Q2, supported by 57,635 square feet of positive net absorption, the first quarterly gain in more than a year. Market inventory inched up to 8.0 million square feet with two newly delivered buildings…
Billionaire Ross’ Firm Strikes Deal to Buy West Palm Beach Hotel
Related Ross, a property firm run by billionaire Stephen Ross, is buying The Ben hotel in West Palm Beach, expanding his bet on the Florida city. The company has agreed to purchase the hotel from Wheelock Street Capital for about $190 million, according to people familiar with the transaction who asked not to be identified discussing private information. Bloomberg…
The Ritz-Carlton Residences, Palm Beach Gardens continues to make steady progress toward its anticipated Spring 2026 completion. Developed by Catalfumo Companies, led by Chairman, Founder, and CEO Daniel Catalfumo, the 106-unit project comprises three buildings designed by Spina O’Rourke + Partners, with hospitality interiors by Susurrus and residential interiors by…
Office Report: Demand Shifts Nationally as Coworking Gains Momentum
The coworking sector continued to expand in response to hybrid work trends, offering companies flexible, cost-effective alternatives to long-term leases, according to the latest Yardi Matrix national office report. Nationally, flex space accounted for 2.1 percent of total office inventory, up 20 basis points year-over-year. Among the top 25 markets, Chicago saw the…
CRE Lending Momentum Nationally Hits Highest Level Since 2018
As borrowing costs stabilized in the third quarter of 2025, borrowers were eager to borrow and lenders accommodated them, according to CBRE, resulting in lending momentum at its highest level since 2018. Another factor in higher lending volume was tighter spreads, which helped bridge pricing gaps between buyers and sellers, thus spurring deal activity. The CBRE…
Self storage is incredibly vulnerable to an oversupply of new construction, creating too many competing units for a finite market. The vulnerability is heightened during the lease-up period, which lasts 18-30 months after construction completion, especially for a new facility. Lease-up is a very vulnerable time for self storage developers. Whereas other asset types…
Aimco Plans To Liquidate Multifamily Assets And Close Shop
Denver-based Apartment Investment and Management Co., better known as Aimco, plans to ask shareholders to approve its proposal to go out of business. The multifamily owner and operator announced its plan to sell off all of its assets along with third-quarter results Monday after markets closed. The decision ends a strategic review of options that began in January…
Apartment Transactions Continue to Rise Nationally in 2025’s 3rd Quarter
The dollar volume of U.S. apartment transactions continued to trend up during the July to September 2025 time frame, though the number of properties trading hands declined. On an annual basis, both the dollar volume and number of properties trading were up. Roughly 1,680 apartment properties changed hands at a value of $43.8 billion during 3rd quarter 2025, according…
This fintech unicorn just launched an AI agent to handle billions of dollars in CRE lending
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.
Real estate titan Barry Sternlicht says he will ‘have to’ drop employees in favor of AI
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.
Big-box market stabilizing, setting the stage for the next expansion cycle
After several years of historic growth and a period of rebalancing, the North American big-box industrial market is showing renewed signs of stability and confidence. Major U.S. and Canadian markets have largely reached a point of equilibrium between supply and demand. Development pipelines normalize after the unprecedented construction boom of 2021–2023, and…
U.S. Industrial Real Estate Demand Surges in Q3 2025
Demand for U.S. industrial real estate space surged in the third quarter, with net absorption reaching its highest level since the first quarter of 2023, according to Colliers. Net absorption, which measures the change in occupied space, was 60 million square feet in Q3, an increase of nearly 20 million year over year. Despite the quarterly increase, year-to-date net…
U.S. Industrial Real Estate Demand Surges in Q3 2025
Demand for U.S. industrial real estate space surged in the third quarter, with net absorption reaching its highest level since the first quarter of 2023, according to Colliers. Net absorption, which measures the change in occupied space, was 60 million square feet in Q3, an increase of nearly 20 million year over year. Despite the quarterly increase, year-to-date net…
How AI-Powered Tech Is Reshaping Industrial Real Estate
AI is making its way into industrial real estate in various ways—in building operations but also tenant activities—yet the overall impact on demand for industrial space is still uncertain, according to a new report published by NAIOP Research Foundation and co-authored by Steve Weikal and James Robert Scott of the MIT Real Estate Transformation Lab. E-commerce…
How AI-Powered Tech Is Reshaping Industrial Real Estate
AI is making its way into industrial real estate in various ways—in building operations but also tenant activities—yet the overall impact on demand for industrial space is still uncertain, according to a new report published by NAIOP Research Foundation and co-authored by Steve Weikal and James Robert Scott of the MIT Real Estate Transformation Lab. E-commerce…
In a recent episode of CNBC’s Property Play, real estate magnates Barry Sternlicht, co-founder, chairman, and CEO of Starwood Capital Group, and Brendan Wallace, co-founder and CEO of Fifth Wall, engaged in a robust discussion about the current state of commercial real estate, the impact of technology on the industry, and the broader economic and political factors…
Has the US dollar weakened? : Comparing the dollar against the world’s currencies
What does it mean for a currency to be “strong”? The US dollar is considered stronger than another currency if one or both statements below are true: The prices of goods and services are cheaper in dollars than in that other currency. It costs more than one unit of that other currency to purchase one US dollar. Analysts and politicians have described some…
PNC Bank to Increase Retail Expansion to 300 New Branches in Southeast, Midwest
PNC Bank (NYSE: PNC) plans to open more than 300 new retail bank branches by 2030, adding about 100 new branches to its earlier plan, which was announced last November. The new announcement brings PNC’s total investment in growing its retail footprint to approximately $2 billion. The latest branch expansion plan calls for new locations in markets including…