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. […]
One-On-One With Nitin Motwani, Developer Of Miami Worldcenter, the Second-Biggest Mixed-Use Project In The U.S. Today, Nitin Motwani is developing one of the biggest real estate projects in America, the $2B Miami Worldcenter. But he has also seen the flip side of the business, growing up with motel-owner parents in Fort Lauderdale when it was […]
Historic Olympia Theater offer may still spark renovation A developer’s proposal to renovate the historic Olympia Theater building at 174 East Flagler Street in downtown Miami may be the catalyst for a restoration of the entire property – even though the proposal was withdrawn after voices of opposition were raised. Now the owner of the famous […]
Miami commissioner goes after large-scale developments A second Miami city commissioner is going after a provision in the zoning code that allows for large-scale developments with relaxed conditions called Special Area Plans, or SAPs. Commission Chairman Keon Hardemon proposes a moratorium on SAPs near Biscayne Bay to give planning staff more time to review current regulations […]
For commercial property of all types in Miami’s zip code 33137 the top buyers in the past year as listed by Costar on April 1 2016, were: RedSky Capital LLC; Thor Equities; JZ Capital Management; JZ Capital Partners; Tristar Capital; RFR Realty LLC; Canepa U.S., LLC; AMLI Residential Properties, LP; Dacra Realty, Inc.; Crescent Heights. […]
Will Miami, Broward seaports converge? Two former rivals recently joined forces in an alliance to stave off competition from neighboring West Coast ports. The Ports of Seattle and Tacoma created the Northwest Seaport Alliance in August aiming to regain market share in what has become an increasingly competitive seaport industry. Port Everglades… New look for […]
Will Miami, Broward seaports converge? Two former rivals recently joined forces in an alliance to stave off competition from neighboring West Coast ports. The Ports of Seattle and Tacoma created the Northwest Seaport Alliance in August aiming to regain market share in what has become an increasingly competitive seaport industry. Port Everglades… New look for […]
Apartment Developer Buys Site Where 449-Unit Riverside Tower Was Recently Approved Downtown Miami’s red-hot apartment market could be getting a few hundred more units. Apartment developer Adler Group closed on the purchase of the Riverside Tower development site last week. The property is located at 230 Southwest 3rd Street, in front of a city of […]
Hollywood to consider tower by Related Group, 13th Floor and Key International A trio of developers are seeking approval to build the Hyde Beach House hotel and condominium in Hollywood. The city’s Planning and Development Board will meet on July 9 to consider the proposal by PRH 4000 South Ocean LLC, a joint venture between […]
Simon Property Group joins Brickell City Centre mall project Mall giant Simon Property Group has joined the team developing the 500,000-square-foot retail component of Brickell City Centre. Master developer Swire Properties previously brought Whitman Family Development, the owner of the Bal Harbour Shops, in on the deal, and now Simon (NYSE: SPG) has become the […]
Is CRE Insurance More Expensive in Florida? With banks and insurance companies also active, real estate lending will remain competitive and favorable for borrowers. What does that mean for the insurance markets in Florida and beyond? Change orders add millions in airport costs; Is this how Broward should do business? For the third time in […]
Miami to vet cost of Tri-Rail link downtown City officials plan to re-evaluate the price tag to expand Tri-Rail to downtown Miami, Mayor Tomás Regalado said. The $69 million cost was estimated in talks among the South Florida Regional Transportation Agency, Tri-Rail’s operator; All Aboard Florida; the company that owns All Aboard’s rail corridor; and […]
Executives aspiring to build 13M square feet in Miami dish on projects The developers of four of Miami’s largest projects shared details on their plans — and their predictions and aspirations for Miami’s future — during a Greater Miami Chamber of Commerce luncheon Wednesday. The featured speakers … Why Multifamily Overbuilding Is Not a Big Issue MIAMI–At RealShare […]
Doral Bank Comes Up With $65M From New Investors New York private equity firms committed to put fresh money into U.S. Century Bank, which faced enforcement action in 2011. Pottery Barn and Williams-Sonoma closing next month on Lincoln Road, Polo Club of Boca Raton unveils $27M renovation…and more Pottery Barn, Williams-Sonoma to close next month […]
Insights from the Americas Lodging Investment Summit conference Guest blog post written by Max Comess, Director, HFF Hotel Group. In January, our team attended the Americas Lodging Investment Summit (ALIS) conference, one of the largest hotel investment conferences in the world, at the JW Marriott hotel in downtown Los Angeles. A reported 2,800 people … Expressionistic Doral […]
