Continental Realty Corporation has bought CityPlace Doral for $88M
The three-story CityPlace Doral features more than 30 retailers and restaurants. Image courtesy of JLL Continental Realty Corp. has bought CityPlace Doral, a 235,000-square-foot grocery-anchored lifestyle and entertainment center in Doral, Fla., for $87.5 million. PGIM Real Estate previously owned the asset, according to CommercialEdge information.
Continental Realty enters South Florida with $88M CityPlace Doral buy
Baltimore-based firm purchased mixed-use project’s retail center anchored by Fresh Market Continental Realty Corporation is diving into South Florida’s retail market for the first time, acquiring the Fresh Market-anchored shopping center at CityPlace Doral in Miami-Dade County for $87.5 million. Baltimore-based Continental Realty, led by CEO JM……
Lissette Calderon’s Neology sells Miami River site to Miami-Dade for $54M
Miami-based firm previously planned 1,360-unit multifamily project Lissette Calderon’s Neology Life nixed a 1,360-unit multifamily project after selling a development site near the Miami River for $54 million. An affiliate of Miami-based Neology sold the 7.3-acre site at 2301 Northwest 33rd Avenue to Miami-Dade County, records show. Calderon’s firm had……
Berkadia Secures $50M Refinancing for Industrial Portfolio in Medley
Berkadia has secured a $50 million loan for the refinancing of the Galaxy Industrial Portfolio, a collection of 20 warehouse buildings in the Miami suburb of Medley spanning 689,940 square feet. Ocean Bank provided the five-year, fixed-rate loan with two five-year extension options and a 12-month interest-only period. Charles Foschini, Christopher Apone, Lourdes Carranza-Alvarez…
Revealed: Melo Files Plans To Build ‘Striking’ Rental Towers In Edgewater
An affiliate of developer Melo Group has submitted plans to build two new 46-story towers in Edgewater. The development is planned on the former Chinatown property, which Melo acquired for $28 million in 2019. It will be known as Biscayne 18. In a letter to Miami’s Urban Development Review Board, architect G3AEC said the two towers would be “striking,” and will contribute…
Revealed: 49-Story Aria Reserve Skyclub Planned In Edgewater
An affiliate of developer Melo Group has submitted plans to build a 49-story tower in Edgewater known as Aria Reserve Skyclub. The project is alternately referred to as Aria Reserve Tower 3 in plans filed with the city. It is adjacent to the existing Aria Reserve development site, where two 650-foot towers are under construction. The new phase is planned to include: 430 residential…
Revealed: Arquitectonica-Designed Tower Proposed Near Midtown
Plans have been filed for a new 37-story Live Local project near Midtown Miami. The project is planned to include: 364 residential units Rooftop pool deck on level 37 212 on-site parking spaces on levels 2 through 8 Plans show a leasing office in the lobby of the new building. Arquitectonia is the architect. 36th Street Owner, LLC is the applicant. A UDRB hearing is scheduled for June 18.
Feds To Expedite Sale Of Brickell Plaza Property
The Trump Administration has announced it will expedite the sale process of the Brickell Plaza property, according to the SFBJ. The Brickell property is one of eleven on a list of properties to be sold nationwide. One step of the sale process, which involves checking with local governments and nonprofits to see if they need the property will be skipped, the report said.
“Market is resetting”: South Florida’s office values decline after reaching record levels
Data shows a noticeable drop in Miami-Dade and Broward since 2022, but they haven’t dipped to 2018 and 2019 levels and are still outperforming the national average From late 2020 through 2022, the tri-county region became a magnet for out-of-state companies, prompting a leasing flurry, record rents and voracious investment sales appetite.
Simon expands at Dadeland Mall, pays $16M for JCPenney ground lease
Indianapolis-based firm acquired 190K sf big box store on 12 acres Simon Property Group is JCPenney’s new landlord at Dadeland Mall in Kendall, acquiring the ground lease for the big box store for $15.6 million. An affiliate of Indianapolis-based Simon, led by David Simon, bought the leasehold interest in the 190,962-square-foot department store at…
Trilogy completes Edgewater assemblage with $42M purchase of Crescent Heights’ HQ
Developer plans 834-unit high-rise project with apartments, condos Crescent Heights sold its headquarters in Miami’s Edgewater to Trilogy Real Estate Group for $41.9 million, The Real Deal has learned. Chicago-based Trilogy, led by Neil Gehani and Ian Kok, plans a mixed-use project with condos and apartments on the 2-acre property at 2200 Biscayne…
Inside the battle over the Robins family dynasty
Stacy Robins has been fighting her siblings over their late father’s estate His death in the fall of 2022 triggered a family fight over his kids’ inheritance and the value of their father’s estate. In The Real Deal’s latest issue, Francisco Alvarado dives into the bitter fight playing out in court. Brothers Scott and Craig are both developers, while…
Edgardo Defortuna’s Fortune drops $38M for Gables Waterway dev site
Miami-based firm is planning branded condominium with 251 units Edgardo Defortuna’s Fortune International Group paid $37.5 million for a Coral Gables redevelopment site where the firm is planning a $150 million branded condominium with 251 units. An affiliate of Miami-based Fortune acquired Gables Waterway, a 4.8-acre multifamily and office complex at…
Affordable housing: Miami-Dade breaks ground on two developments
Hoping to ease the affordable housing crisis, Miami-Dade County elected officials broke ground on two developments. The Rainbow Village/Rhapsody Apartments is a 310-unit development at 2000 NW 3rd Ave in Miami. It will feature 163 one-bedroom units, 85 two-bedroom units, 28 three-bedroom units, and four four-bedroom units.
Homeowner fires legal torpedo at Barrington Brothers’ latest El Portal project
Jerilyn Kobrick wants to overturn village council’s approval of planned eight-story development with 152 apartments An El Portal homeowner is seeking to overturn the controversial approval of Barrington Brothers’ next multifamily project in the village. Jerilyn Kobrick sued El Portal and an affiliate of Miami-based Barrington, led by Arthur and Ken…
In $90M deal, Blackstone unloads another South Florida industrial property
Buyer East Capital expanded its portfolio with three-warehouse purchase Blackstone’s South Florida industrial sell-off is chugging along with the $90.2 million sale of three Miami-Dade warehouses. Including its latest divestiture, the New York-based investment giant and its subsidiary, Link Logistics, have unloaded 34 industrial properties in…
Redwood Dev Co scores $126M refi for 350-unit multifamily portfolio in north Miami-Dade
Properties include rental townhouses and apartment building, records show Redwood Dev Co scored a $126.3 million refinancing for a 350-unit multifamily portfolio in north Miami-Dade County. The deal comes as lending continues to flow in South Florida, despite elevated interest rates, skyrocketing insurance and the threat of higher construction costs…
41-Story Tower Proposed at Former Mexican Consulate Site in Brickell
A pre-application has been filed with Miami-Dade County planners for a 41-story mixed-use tower in Brickell, set to rise on the former site of the Mexican Consulate. The proposal, submitted by CF TSG Brickell, LLC, includes 544 residential units, with approximately 12.5 percent designated for workforce housing, along with 9,445 square feet of ground-floor commercial space…
With rail 12 years away, North Miami-Dade seeks transit fill-in
The Citizens’ Independent Transportation Trust is searching for ways to provide more transit to the areas of North Miami-Dade that have been waiting decades for a promised Metrorail line that is still at least a dozen years from opening. The trust, which administers tax funds that would help build the North Corridor rail line, scheduled the hunt for alternate transit…
Massive Downtown Miami Signature Bridge rises toward 2027 opening
Like giant arching spider legs, the unique supports of the new Signature Bridge supporting an updated I-395 highway continue to rise in the heart of downtown Miami, with completion planned late in 2027. Steady work continues on all three corridors of the massive I-395/SR 836/I-95 Design-Build Project in Miami, the Florida Department of Transportation (FDOT) says.
Miami’s Wynwood Design Review Committee has voted 4-1 to recommend approval of LIVWRK Wynwood, a major mixed-use development proposed by Brooklyn-based LIVWRK under Florida’s Live Local Act. The project, designed by MKDA with LIVWRK’s Brian Vargo listed as design architect, would introduce the neighborhood’s first high-rise buildings and one…
3 Live Local Towers With Nearly 1,400 Units Approved By Wynwood Board
Miami’s Wynwood Design Review Committee reviewed a proposal for three new towers at its June 3 meeting, and voted 4-1 to recommend approval. LIVWRK, a company based in Brooklyn, New York, is the developer planning the towers. The board also added a condition to its recommendation: more local art should be incorporated at the street level to further enhance…
Mondrian Hallandale Beach Residences Announced as First Standalone Mondrian-Branded Condominium
PPG Development and BH3 Management, in collaboration with Ennismore, have announced Mondrian Hallandale Beach Residences, a branded condominium located at 101 Diplomat Parkway in Hallandale Beach. The project marks the first standalone Mondrian-branded residential offering and repurposes an existing 26-story tower completed in 2022….
Photos: 58-Story Miami Tower ‘Downtown 6’ Rising
Photos show the 58-story Downtown 6 tower continuing to rise. Downtown 6 is planned to have 824 apartments, 2,247 square feet of retail, and 639 parking spaces upon completion. The photos also show that glass installation is underway at the 70-story Okan Tower, which is being built next door to Downtown 6.
Goldman Sachs Construction Financing Secured For 310-Unit ‘The Perrin’ Brickell Tower
A construction loan has been secured for a new residential tower planned in Brickell called The Perrin. The $111m in construction financing was secured from lender Goldman Sachs. The Perrin is planned as a 310-unit Class A Multifamily tower. It will rise 26 stories, blocks away from Brickell City Centre. “We ran a highly competitive process that drew strong interest…
Whole Foods Market Midtown Miami Opening June 26
Whole Foods has revealed new details of its new store in Midtown Miami, including an opening date. The new store will open on June 26 at 9:00 a.m. It will be a large store – at 53,400 square feet. Plans previously filed with the city also showed there will be three levels of parking. The store will have a coffee bar, prepared foods department, bakery, meat counter, and seafood counter…
Controversial Qatar 747 Might End Up Next To Miami Worldcenter, Permanently
Donald Trump’s son visited downtown Miami earlier this year to scout a site for a presidential library, according to the Herald. The Trumps are reportedly considering the parking lots next to the Freedom Tower as a location for the library (Miami Worldcenter is across the street from the Freedom Tower). The land is owned by Miami-Dade College. Four proposals…
Bridge Industrial Receives $77.6M in Financing for Industrial Park in Miami
Bridge Industrial has received $77.6 million in permanent financing for Bridge Point AVE, a nearly 600,000-square-foot industrial park located within the master-planned development of AVE Aviation and Commerce Center in Miami. Steve Roth and Bill Jurjovec of CBRE’s Debt & Structured Finance group arranged the loan. According to public records, State Farm Life Insurance…
New Owner Files Pre-Application for ‘Shoma One’ Project at 3650 Bird Rd in Miami
In 2021, Coral Gables-based Shoma Group filed plans for a project known as “Shoma One,” a two-tower venture with a 17-story and an 18-story building. Then, in 2023, the developer revised its plans, instead intending to move forward with two 40-story towers which would feature more than 700 apartments. Now, following the sale of the 2.4-acre site in question…
Pre-Application Filed For 544 New Residential Units In The Heart Of Brickell
A pre-application has been submitted to Miami-Dade planners for a new tower in Brickell. The development is planned on the former Mexican Consulate property (the consulate moved to Coral Gables in 2023). According to the new pre-application filing, a 43-story, 434-foot tower is planned with: 544 residential units (of which 12.5% will be workforce) 9.445 square feet…
‘Incredible Project That Adorns The Miami Skyline’ To Begin Soon On Former Genting Land
A luxury mixed-use tower is planned to begin construction soon near the Signature Bridge, according to the new owner of a development site. An entity owned and controlled by SF QOZ Fund I, LLC, led by David Cohen and Liam Krahe, said it would begin construction in early 2026. Genting sold the Opportunity Zone property in an off-market transaction that closed on May 30.
Flo Rida Sparks Power Move with First Black-Owned Mall in Miami Gardens
The major real estate event was joined by Councilman Reggie Leon, where Flo Rida revealed his ambitious plans to revitalize the Cloverleaf Shopping Plaza, which he purchased in 2023 for $10 million through his company Strong Arm Management. Located at 230 NW 183rd Street, the 27,813 square foot plaza sits just blocks away from where the Grammy-nominated artist…
Melo Buys Prime One Brickell City Centre Site From Swire
One of Miami’s biggest developers has acquired one of the most prime development sites in Brickell. Melo Group said in a statement that it had acquired the property at 700 Brickell Avenue from Swire Properties. The acquisition is valued at $211.5 million with the potential to increase to $221.5 million. “We are pleased to have secured such a significant property and look forward…
NoMi Square Breaks Ground at 13855 NW 17th Avenue in North Miami
NoMi Square, a 342-unit mixed-use multifamily and workforce housing development, has broken ground at 13855 NW 17th Avenue in North Miami. The seven-story project is being developed by Integra Investments through a public-private partnership with the North Miami Community Redevelopment Agency (NMCRA), and is backed by a $65 million construction loan…
Sale of 371,976 SF Airport Trade Center Industrial Portfolio Near Miami Airport Arranged
JLL Capital Markets has arranged the sale of Airport Trade Center, a 371,976-square-foot light-industrial portfolio in Miami. Situated adjacent to the Miami International Airport, the site features three cross-dock buildings that sit on 13.8 acres. Luis Castillo, Cody Brais and Taylor Osborne of JLL’s Investment Sales and Advisory team represented the undisclosed seller…
Developer Revises Plans for Mixed-Use Project at 7350 Coral Way in Miami
Miami Development Fund LLC has revised its plans for a multi-family project in Miami-Dade County. Initial plans in 2022 called for a 12-story, mixed-use tower with 320 residences, along with office and retail space. Now, with the passage of the Live Local Act, the developer hopes to benefit from incentives that would allow for increased housing density and more office space.
Joule House Completes Construction, Begins Move-Ins in Wynwood
Construction has reached completion on Joule House, a new mixed-use multifamily development located at 2200 NW 1st Avenue in Miami’s Wynwood neighborhood. The eight-story structure has received its Temporary Certificate of Occupancy (TCO) and has begun welcoming residents into its 308 residential units. The project is developed by Fisher Brothers, with property management by Bozzuto…
Fisher Brothers Completes 308-Unit Mixed-Use Project in Miami
Fisher Brothers received its Temporary Certificate of Occupancy from the City of Miami and has begun move-ins for renters at Joule House, a 308-unit luxury mixed-use development in the Wynwood neighborhood. The 1.38-acre property also has 26,000 square feet of retail space. Bozzuto is handling leasing and property management for the asset at 2200 NW First Ave.
Lease roundup: West Elm opening in Wynwood, Sushi Sake in Weston
Also, baker and sommelier Paula Marsola added to her offerings at Pembroke Gardens West Elm will open at the Dorsey mixed-use building in Miami’s Wynwood. The furnishings brand leased more than 12,000 square feet at the 12-story building at 286 Northwest 29th Street, according to the landlords’ news release. The store is expected to open in the second…
Ari Pearl, BH3 plan Mondrian-branded condo conversion in Hallandale
Developers nabbed $225M refi for the property in March Dan Lebensohn and Ari Pearl with the Mondrian-branded condo conversion in Hallandale (Getty, BH3) Ari Pearl’s PPG Development and BH3 Management plan to convert a luxury apartment tower in Hallandale Beach to Mondrian-branded condos. The developers announced they plan to convert Slate, a 26-story…
New York Life buys Pembroke Pines Medical Plaza in Pembroke Pines for $38M
New York Life Real Estate Investors bought a medical office complex in Pembroke Pines for $38.3 million. The real estate arm of insurance giant New York Life purchased Pembroke Pines Medical Plaza at 400, 500, 600 and 700 North Hiatus Road from an affiliate of Aventura-based Triarch Capital Group, according to records and real estate database Vizzda….
Construction on ‘Mayla Cypress’ to Start Soon at 6261 NW 6th Way in Fort Lauderdale
Florida YIMBY has an update regarding Mayla Cypress, a multi-family venture we first covered after its approval in 2021. Our sources report that following the security of a $92 million construction loan, developer Grover Corlew intends to break ground soon. Upon completion, the venture will offer 312 units and a host of upscale amenities, including…
Pérez’s family’s Related listed building for $230M in February Spanish billionaire Amancio Ortega’s Ponte Gadea bought a 259-unit apartment tower in downtown Fort Lauderdale for $165 million, marking one of South Florida’s biggest multifamily sales so far this year. The Pérez’s family’s Related Group sold the 44-story Veneto Las Olas at 201 South…
$160 Million in Construction Financing Secured for Waldorf Astoria Residences Pompano Beach
Construction financing has been secured for Waldorf Astoria Residences Pompano Beach, a forthcoming 28-story oceanfront condominium tower poised to rise along the Broward County coastline. The $160 million loan was issued by Bank OZK to support the project’s vertical construction. The development is being led by Related Group and Merrimac Ventures in collaboration…
Related, Merrimac score $160M loan for Waldorf Astoria Residences Pompano Beach
92-unit branded luxury condo project is over 70 percent presold, developers say The Pérez family’s Related Group and the Motwanis’ Merrimac Ventures secured a $160 million construction loan for their Waldorf Astoria Residences Pompano Beach condo development, The Real Deal has learned. Miami-based Related and Fort Lauderdale-based Merrimac received the…
Boca Raton moves forward with downtown mega mixed-use project on public land
Officials give tentative OK for Terra, Frisbie Group to build 2M sf development with residential, offices, retail, restaurant and civic spaces Terra’s David Martin, Frisbie Group’s Robert Frisbie, Sr. and Frisbie Group’s Cody Crowell with a rendering of the mega mixed-use project in Boca Raton (Getty, Terra, Frisbie Group) Boca Raton approved…
Glass House Boca Raton Breaks Ground in Downtown Boca Raton
Glass House Boca Raton, a nine-story residential development planned for 280 East Palmetto Park Road in downtown Boca Raton, has officially broken ground. The milestone was celebrated on April 3, 2025, marking the beginning of construction on what is set to become the first modern glass building in the heart of the city. The development is being spearheaded…
Steve Ross lands $600M financing for South Flagler House condos in West Palm Beach
Bank OZK providing $475M of the total for West Palm Beach’s most expensive units in development GoldenTree’s Steven Tananbaum, Bank OZK’s George Gleason and Steve Ross along with a rendering of the South Flagler House condo project in West Palm Beach (Getty, Bank OZK/Karen E. Segrave, Related Ross) Billionaire Related Ross Chairman and CEO Steve Ross…
Top industrial real estate trends nationally
For years, the rise of e-commerce and demand for last-mile delivery meant industrial properties largely outweighed supply, making them a go-to addition to many investors’ portfolios. As supply and demand begin to even out, industrial may not be commercial real estate’s darling, but the asset class is still highly sought after and continues to perform well.
Video: Hoya Capital CIO David Auerbach on REITs, Commercial Real Estate Outlook
A Comprehensive Discussion on REITs and Market Opportunities The host of America’s Commercial Real Estate Show recently discussed the current state of the commercial real estate market in a comprehensive dialogue with David Auerbach, Chief Investment Officer at Hoya Capital. The conversation revolved around the impact of tariff unrest, the performance…
Multifamily Operating Expenses Moderate Significantly, But Still Well Above Pre-Pandemic
Multifamily operating expenses moderated significantly in the last year, but cost per unit remains about two-fifth above the pre-pandemic rate nationwide. The COVID pandemic set the stage for a high-demand and low-supply environment as the world saw significant disruption to manufacturing, logistics, and distribution. In the years following 2020, inflation surged across all…
Early Warnings of CRE Price Problems Nationally
The news cycle moves faster than data on performance in commercial real estate (CRE), with few current data points indicating trouble in the sector from tariff turmoil. U.S. deal volume was unchanged from last year in April and transaction cap rates saw little movement as well. The absence of evidence is not evidence of an absence of trouble, however.
The real estate industry is in the throes of a transformative evolution, driven by emerging technologies like artificial intelligence (AI) and robotics, according to VettaFi’s Senior Research Analyst Zeno Mercer. His insights, shared in a recent interview with Josh Lipton on Yahoo Finance’s Asking for a Trend, reveal the potential of these technologies to revolutionize every stage…
The Fed: Beige Book Reports Slight Economic Growth Alongside Uncertainty
The Federal Reserve Bank of Atlanta’s new Beige Book shows the Southeast’s economy grew slightly from mid-April through May, although signs of economic uncertainty are evident across several sectors. In the bellwether housing sector, for example, home sales grew slightly, attributed to stabilizing mortgage rates. However, demand for new homes remained below seasonal norms.
In a recent episode of a Yahoo Finance’s Catalyst, the host interviewed Richard Litton, who is the president of Harbor Group Private Capital. The topic of discussion revolved around the current state of the real estate industry, the role of private capital and credit, and the implications of potential rate cuts by the Federal Reserve. At the heart of the discussion was the ongoing…
Import cargo levels expected to surge during pause in tariff increases
Import cargo at the nation’s major container ports is expected to see a surge through this summer as retailers take advantage of a 90-day reduction in tariffs that were recently imposed on China, according to the Global Port Tracker report released June 9 by the National Retail Federation and Hackett Associates. “This is the busiest time of the year for retailers as they enter…