Pharma company will immediately cut jobs

Catalyst Pharmaceuticals Inc. will immediately reduce its workforce by at least seven positions, according to an announcement Tuesday. The Coral Gables-based firm confirmed it would cut its commercial operations team as it must complete a trial of its drug, Firdapse, and then seek approval by the Food & Drug Administration. “I would like to express…

Stalled development project sold for $13 million

A long-stalled transit-oriented development project at the South Miami Metrorail Station has been sold to a new developer. Hometown Station Ltd., managed by Machado Ford President Gus Machado, assigned the lease with Miami-Dade County Transit for $13 million to TREO Somi Station LLC, an affiliate of Miami-based the Treo Group. The buyer is managed by…

Hotel secures $37 million construction loan

The Aloft hotel in the upcoming Aventura ParkSquare mixed-use project has secured a $36.67 million construction loan. Boston-based Citizens Bank awarded the mortgage to Norwich Aventura I LLC, an affiliate of Sanibel-based Norwich Partners of Florida led by David Leatherwood. It will fund the 207-room hotel at 2910 NE. 207th Street. The hotel developer acquired…