Video: Everything you need to know about Opportunity Zones, 67 of which are in Miami-Dade Developers and investors across the United States are turning their attention to a new tax benefit program introduced as part of President Trump’s tax plan known as Opportunity Zones. These incent developers to build in low-income communities by providing tax […]
South Florida’s suburbs dominate ranking of the top multifamily deals Three of the top five multifamily transactions occurred in Miami-Dade County. In August 2017, TA Realty picked up the 398-unit Manor CityPlace in Doral for $135 million. The Boston-based REIT, which typically focuses on office and industrial, paid $339,196 per apartment. The Related Group, Shoma […]
PMG Receives $106M Refinancing for 464-Unit X Miami Apartment Tower Property Markets Group has received a $106 million refinancing for X Miami, a 464-unit multifamily community in downtown Miami. Pacific Western Bank provided the financing, which will pay off an existing $80 million construction loan from Centennial Bank. The 31-story tower that recently opened features units […]
Carlyle JV sells Miami-Dade self-storage portfolio for $100 million An entity tied to William Warren Group just paid $100 million for three self-storage buildings spread throughout Miami-Dade County. Property records show CRP/Westport Self Storage Dixie, a joint venture between the Carlyle Group and Westport Properties that operates as US Storage Centers, sold the buildings. The self-storage […]
Commissioner ‘Crazy Joe’ Carollo takes on Little Havana developer Go back in journalistic history to the year 2000 and there’s a little gem in The Economist about Joe Carollo, who is currently a city of Miami commissioner. “When the mayor of Miami, Joe Carollo, was a budding city commissioner in the mid-1980s, he earned the nickname […]
I Squared, Moving Headquarters to Miami, Raises $7 Billion for Infrastructure Investments I Squared Capital, an infrastructure-focused private equity firm founded by former Morgan Stanley executives, has raised $7 billion for its second fund, exceeding its original target as competition for investor capital heats up. The fund, known as ISQ Global Infrastructure Fund II, will make […]
Mall reuse 2.0: This LA firm wants to turn vacant mall space into transitional housing As landlords consider what to do with their faltering shopping malls, one idea is gaining traction statewide: repurposing unused space into housing for the homeless. Irvine-based KTGY Architecture + Planning is developing a new concept called Re-Habit, which would redevelop empty […]
What is Melreese really worth? Experts consider value of Beckham’s proposed soccer site Miami voters will decide in November if an ownership group led by David Beckham and the Mas brothers can build a $1 billon mixed-use development on the site of the Melreese Country Club. The ambitious proposal would be anchored by a 25,000-seat […]
Project manager dies from injuries in Miami Beach building collapse A project manager died Friday from his injuries in what appeared to be a flawed effort to demolish the old Marlborough House condominium in Miami Beach. AlliedBean Demolition project manager Samuel Landis, a 46-year-old father and Lighthouse Point resident, had been in critical condition since July […]
Fed keeps interest rates steady, stresses “strong economy and job market” The Federal Reserve, led by Chairman Jerome Powell, decided not to raise interest rates on Wednesday, stressing that the economy and job market remain strong. Many expect the central bank to raise rates next month. The Fed also highlighted the low unemployment rate, and noted […]
Stambul Acquires Historic Walgreens Building in Downtown Miami for $19.8M, Plans Redevelopment Stambul, a Miami-based full-service construction and development firm, has acquired the Historic Walgreens Building in downtown Miami for $19.8 million. Located at 200 E. Flagler Street, the building most recently housed La Epoca, a department store that closed in 2016. Habitat Development Corp., […]
Five Unanswered Questions About the New Beckham Stadium Proposal Soccer star and professional attractive person David Beckham spent a small portion of Thursday’s carnival-esqe city commission meeting complaining that anonymous Miamians haven’t been smiling at him as often lately. Only one woman publicly flashed him on Thursday! Poor Becks. Many Miami residents are, rightfully, skeptical about […]
Trammell Crow, AvalonBay to Develop 350-Unit Multifamily Community Near Miami Trammell Crow Residential, in partnership with AvalonBay Communities Inc., has unveiled plans to develop a 350-unit apartment community located at the corner of N.W. 36th Street and N.W. 79th Avenue in Doral, roughly 16 miles northwest of Miami. The residences will be part of a […]
ASB Acquires 302,000 SF Hialeah Industrial Property Near Miami Airport for $24.3 Million ASB Real Estate Investments has acquired a 302,000-square-foot industrial property in Hialeah for $24.3 million. The warehouse is located at 215 S.E. 10th Avenue, roughly 12 miles northwest of Miami and roughly two miles from Miami International Airport. The facility includes 23,000 […]
Okan Tower Will Redefine Downtown Miami As Florida’s Tallest Skyscraper Miami is a booming international city. Soon, it will be blooming too. Okan Tower, a 70-story flower-shaped architectural wonder will anchor the city’s surging skyline, ultimately unfolding as the tallest skyscraper in Florida. When completed, the versatile mix-used tower will soar 890 feet over downtown Miami […]
Parkway Properties, KKR pay $250M for former Sabadell Financial Center: sources A partnership between Parkway Properties and investment giant KKR just paid $250 million for the former Sabadell Financial Center in Miami, sources told The Real Deal. The seller was Prudential Real Estate Investors, which bought the property in 2013 for $184.3 million, property records show. […]
