Jan 07, 2016 - 0 Comments - Top Stories -

Miami Commercial Property News January 7, 2016: Apartment Community Brokered for $120 Million; Vista Lago Sells for $17.7 Million; More…

CBRE Brokers $120 Million Sale Of New Lux Apartment Community

The residential asset consists of 353 units in two mid-rise buildings and a mix of 134 two- and three-bedroom townhomes.

Suffolk Construction Completes Concrete Pour on First MiamiCentral Office Tower

Suffolk Construction has officially broken ground on the first of three office towers that will be constructed at the MiamiCentral station, completing the concrete mat pour at the site.  The eight-hour pour began at 1 a.m. on December 23rd, and included 950 cubic yards of concrete totaling 105…

Monogram Residential Trust Pays $48M for The Mile at Coral Gables

Greystone & Co., Inc. and Alta Developers sold the 120-unit The Mile at Coral Gables apartments at 3622 SW 22nd St. in Miami, FL to Monogram Residential Trust for $48 million, or $400,000 a unit.  The newly-constructed, 120,060-square-foot multifamily community features state-of-the-art amenities…

Vista Lago at the Hammocks Apts Sold for $17.7M

RAIT Financial Trust sold 136 residential units, 55 percent of the 248 total condominiums, at Vista Lago at the Hammocks located at 15689 SW 106th Ln. in Miami, FL to Fortune Capital Partners, Inc. for $17.68 million, or approximately $130,000 per unit.  The 120,139-square-foot multifamily…

Related Group Secures $105M Construction Loan

Related Group secured a $105 million dollar construction loan for its in-development Icon Las Olas development.  SunTrust Bank provided the new debt.  Icon Las Olas is located at 500 East Las Olas Blvd. in Fort Lauderdale, FL. When completed in mid-2017, the tower will stand 455 feet tall, making…

Downtown Miami’s Affordable Melody Tower Tops Off; Two Restaurants in Tow

Melody Tower in Downtown Miami topped off at 38 stories, becoming the first luxury residential building to be built in the Arts and Entertainment district. The mixed-use project neighboring the Adrienne Arsht Center for the Performing Arts differs from other residential towers in the area in that…

Aventura’s VIDA at the Point to Break Ground This Month

While Miami and Fort Lauderdale steal most of the pub in South Florida’s booming real estate market, Aventura isn’t shying away from making a sizable footprint of its own with over 20 condo projects announced for the area. The latest to break ground will be VIDA at the Point…

Trio of Developers Wins $91M Loan

With only 70 units, Eighty Seven Park will become one of the region’s most exclusive residences….

Developer: Fort Lauderdale’s Growth is Not a Boom

“Given the cyclical nature of the real estate industry, conventional wisdom is that every boom will be followed by a bust.”

Why So Many New Hotels?

With nearly 5,000 rooms delivered or coming online in the Greater Miami hospitality market this year, can demand absorb the supply?

What This Loan Says About Miami

PMG just got a $27 million loan for a new project called 300 Biscayne. What does this mean in the bigger picture?

Keyes Commercial Leads Full Year 2015 Miami-Dade MLS Ranking

In the  twelve months ending December 31, 2015, Keyes Commercial Realty dominated the Miami MLS market share rankings by number of sales transactions of commercial improved properties within Miami-Dade County.  The firm’s impressive 30.1% market share among the to…

Sale Closes Of Simply Healthcare’s Coral Gables HQ Building

Marcus & Millichap’s Douglas Mandel, Benjamin Silver and Richard Niewiadomski negotiated the sale.

$40 Million Sale of Miami Office Tower Closes

USAA Real Estate Company the eight-story, 100,798-square-foot building.