What happened, and who moved.
A Mas brother is pushing to rezone 162 acres of land outside of Miami Gardens for a massive mixed-use development with affordable housing, retail and industrial space. Landmark QOZB Construction LLC, an entity tied to Juan Carlos Mas of Coral Gables-based MAS AJP, filed an application with county officials to…
🏆 Commercial: West Palm Beach had the largest commercial sale to hit records Tuesday. The tenants of Ponte Verde Condominiums collectively sold the property at 1401 Village Boulevard for $90 million. Kamson Corporation and Scopus Property Management were the buyers. The 400 unit property sits on about 28 acres. 📊…
A Lauderhill-based financial firm landed a $79 million refinancing for a luxury apartment tower in downtown Hollywood. Stewards Inc. secured the new debt for 1818 Park, a 22-story, 500,000-square-foot apartment building at 1818 Hollywood Boulevard that’s 94 percent leased. The financing, which replaces existing…
Lissette Calderon’s Neology Life closed a $175 million capital raise with plans to expand beyond its niche in South Florida multifamily to mixed-use projects across the Southeast. The raise from investors supercharges Coconut Grove-based Neology’s development capacity, arming it with $1 billion to pursue…
🏆 Residential: North Miami logged the priciest home sale in South Florida. A company managed by Darren Gerard sold the home at 11400 North Bayshore Drive for just under $24 million. The buyer was a trust tied to Kymberly A. Foglia, daughter of Vince Foglia, who founded a medical products company. Built last year,…
Affiliated Development started construction on a Live Local Act project in Fort Lauderdale after scoring a $74 million construction loan. Pacific Life Insurance Company provided financing for The Cove, an eight-story, 376-unit development at 1055 North Federal Highway. The project is also being capitalized with…
Allapattah, already a neighborhood targeted for redevelopment, now has a $243 million spending plan that leans in on infrastructure improvements and affordable housing construction. Miami commissioners, sitting as the members of the newly formed Allapattah Community Redevelopment Agency, unanimously voted for the…
Steve Ross, who developed an office and condo empire in West Palm Beach, is planning his first Live Local Act project. The proposal aligns with Ross’ public stance that the shortage of attainably priced housing is a top issue in Palm Beach County and marks a full circle for the 86-year-old who started out as an…
Mast Capital and Koch Real Estate Investments scooped up an oceanfront resort in the Florida Keys two years after it last sold. The Miami-based developer and Dallas-based investor acquired 22 villas and eight hotel suites at the Islands of Islamorada Resort from the Frisbie Group, according to a news release.…
🏆 Residential: A penthouse in Miami Beach was the priciest deal to hit records. A trust tied to Yves Mongeau and Sylvie Guilbault parted with a 9,000-square-foot condo at 450 Alton Road for $23.5 million, or $2,600 per square foot. The buyer was Akron Warwick Exchange LLC. The unit has six bedrooms and seven and a…
After years of delays, lawsuits and other issues, Penn-Florida Companies is now facing foreclosure on the Mandarin Oriental Residences, Boca Raton project. The lender, an affiliate of Apollo Global Management, filed a $417.7 million suit against the developer’s affiliate and a laundry list of co-defendants,…
Social media influencer and livesteamer IShowSpeed bought a warehouse for a content creation studio near West Little River for nearly $11 million, The Real Deal has learned. IShowSpeed, whose real name is Darren Jason Watkins Jr., bought the 26,600-square-foot industrial building on a 1.8-acre lot at 8700 Northwest…
Billionaire Richard Kurtz’s The Kamson Corporation and Joel Gluck of Scopus Property Management dropped $90.5 million for a 400-unit residential complex in West Palm Beach that was converted from condos to apartments last year. The investors acquired Ponte Verde at Palm Beach Lakes with an $81 million acquisition…
Aprea Development and JSB Capital Group landed a $202 million construction financing package for The Avenue, a luxury mixed-use development in downtown Naples. Bayview Commercial Mortgage Finance provided the package, which includes a $93 million traditional construction loan and $109 million of C-PACE financing,…
Privé Group, led by Javier Rabinovich, is staking an office bet in an area where few others have in recent years. Miami-based Privé proposes a 75-foot tall building in an unincorporated area between North Miami and Miami Shores, while most office developers as of recent have homed in on Bay Harbor Islands, Miami…
🏆 Residential: David Goulden and his wife, Andrea Helen McDonough, bought a sponsor unit in the new Alba Palm Beach building at 4714 North Flagler Drive, developed by BGI Capital and Blue Road for $10.4 million, representing the most expensive home sale to hit records in South Florida. This five-bedroom,…