Mexico’s biggest hotel operator to debut in Miami
Grupo Posadas, a major player in the Mexican hospitality industry, is joining forces with Las Vegas-based private equity firm Bighorn Capital to bring the GP’s high-end boutique hotel brand, Live Aqua, to Miami. Per its agreement with Grupo Posadas, Bighorn Capital will invest $450 million to develop Live Aqua properties in Miami…
WSJ: Miami Condos Seek Chinese Buyers
Wealthy buyers from Brazil, Venezuela and Argentina have fueled a real-estate frenzy in Miami in recent years, sending luxury-condo prices soaring. Now, Miami developers and real-estate agents are setting their sights on a more distant part of the world: China. In April, representatives for several Miami condo buildings made…
Site on Miami River near Brickell trades for $18M
The vacant site along the Miami River on the western edge of the Brickell area sold for $18.3 million, or $1,309 per square foot for the dirt. In a related deal, a Miami Beach mansion traded for $13 million. The Edge on Brickell, managed by Rafael Aragones, sold the 13,979-square-foot property at 39 and 55 S.W. Miami Ave.to…
Bay Harbor Islands condo project scores $12M construction loan
City National Bank of Florida awarded a $12.335 million construction loan for the Sereno Bay Harbor Islands condominium project. The Miami-based bank provided the mortgage to Bay Harbor Holdings, an affiliate of Miami-Based developers 13th Floor Investments and Integra Investments. The 38-unit project broke ground…
Israeli investor Mana’s $32M deal is latest in downtown Miami buying spree
Israeli developer Moishe Mana ramped up his buying spree in downtown Miami with the $32 million purchase of a former Justice Building. Columbus Properties, a New York-based company managed by John DiMarro, sold the office building at 155 S. Miami Ave. and the parking garage at 26 S.E. 1st Street to Mana’s Park Realty…
Hotel Indigo Trades for $18.6M
The Carlyle Group and Rodblu Investment Fund 1 have sold the Hotel Indigo at 7690 N. Kendall Dr. in Miami, FL to Integrated Capital LLC for $18.63 million, or about $155,000 per room. The six-story, 55,776-square-foot, upscale hospitality building was constructed in 1975 on 1.5 acres in the Kendall…
China’s Biggest Real Estate Developer Could Be Interested In The Health District
The chief executive of Greenland USA that is actively seeking growth opportunities just visited Miami and was especially interested in the UM medical campus.
Chicago doctor sells 12 South Florida apartment buildings
A Chicago doctor just sold off 12 apartment buildings, totalling 115 units scattered around West Palm Beach and Broward Counties, for $8.5 million. The portfolio was assembled by Dr. Salomon Dayan from 2003 to 2008. The doctor, who is…
Carlyle drops anchor at Lauderdale Marine Center
The Carlyle Group announced Thursday that it has acquired the Lauderdale Marine Center, the nation’s largest yacht facility and marina, which it plans to renovate and expand amid growing demand for mega-yacht space. The 50-plus-acre property, at 2001 SW 20 Street in…
Miami Everglades campgrounds sell for nearly $10M
A 34-acre campsite in southwest Miami-Dade sold for $9.84 million, according to Miami-Dade County records. Miami Everglades Resort, at 20675 Southwest 162nd Avenue, sold to MHC Miami Everglades, a Chicago-based company tied to Equity LifeStyle Properties. Equity…
Sereno Bay Harbor Islands gets $12.3M construction loan
Sereno Bay Harbor Islands, a boutique condo development currently under construction, just inked $12.3 million in construction financing from City National Bank. The 38-unit project is located at 10201 East Bay Harbor Drive. Its developers…
Walmart Neighborhood Market headed to Davie, gets $13M loan
A new Walmart Neighborhood market will be developed in Davie, Boca Raton-based Atlantic Commercial Group announced this week. The Walmart is planned for the site on the southeast corner of Pine Island Road and Stirling Road in Davie. The 11.2-acre land sold this…
7-acre oceanfront RV park in Islamorada sells
Arizona-based Carefree RV Resorts closed on the purchase of Seabreeze RV & Mobile Home Park in Islamorada on Wednesday, Seabreeze Associates owner Joe Weiselberg told The Real Deal. Located at mile marker 87.4, oceanside, on Plantation Key, Seabreeze has 101 RV…
Design District property sells at premium: $24M
A property at 21 Northeast 39th Street has sold for $24 million — up nearly sixfold in four years — as demand heats up in Miami’s Design District, The Real Deal has learned. A group of investors led by commercial real estate broker and developer…
Mexican hospitality brand to launch in Miami
Mexico’s largest hotel operator is moving into Miami, joining a handful of Latin American hospitality companies in the market. Grupo Posadas, which has more than 130 hotels in Mexico, is teaming up with Bighorn Capital and Debut Hotel Group to develop…
Why Foreign Investors are Falling Into This Net
“Foreign investors look at opportunities differently than domestic investors.”
CRE firm sells Miami Design District building for $24M
A company controlled by Miami Beach broker/developer Michael Comras sold a retail building in the Miami Design District for $24 million. MAD DD LLC, managed by Comras, sold the 8,310-square-foot building at 21 N.E. 39th Street to RS JZ NE 39th LLC, an affiliate of Brooklyn-based RedSky Capital. That equates to an eye-popping…