The Four Points by Sheraton Miami Airport hotel recently started construction after the developer secured a mortgage. HSBC Bank USA provided the $13.5 million construction loan to 36th Street Three LLC, an affiliate of Boca Raton-based Economos Properties. It has started building a 124-room hotel that would total 45,182 square feet. That includes a 2,220-square-foot…
Thor Equities has sold nearly all of its property in the Miami Design District in three deals for a combined $128.3 million. The buyer was a joint venture between Brooklyn-based RedSky Capital and JZ Partners. That’s the same group that paid $59.83 million for another group of properties in the Design District in January. When…
The Related Group and Dezer Development signed a $114.7 million construction loan for their Hyde Midtown Suites & Residences as their tower begins rising on the Miami skyline. The co-developers broke ground on the project at 3401 N.E. 1st Ave. in the Midtown neighborhood in September. Branded by sbe, the tower will have 400 residential…
An Apple Store is coming to Miami’s urban core as the tech company signed a lease with the developer of Brickell City Centre, according to a source familiar with the deal. The source said it would be the biggest Apple Store in Florida. Apple (NASDAQ: APPL) also has stores in South Beach, Aventura, Dadeland, and…
A medical office building in Miami sold for $11.8 million four years after it was seized in foreclosure. Sunset Commercial Properties, managed by Jason Haim in Miami, sold the building at 9035 Sunset Drive with 35,002 square feet of leasable space to Superior Copper Investments, managed by Luis F. Malo in Miami. The deal was…
A medical office building in Miami sold for $11.8 million four years after it was seized in foreclosure. Sunset Commercial Properties, managed by Jason Haim in Miami, sold the building at 9035 Sunset Drive with 35,002 square feet of leasable space to Superior Copper Investments, managed by Luis F. Malo in Miami. The deal was…
A rendering of Loftin Place apartments in West Palm Beach Sales of apartment properties totaled a record $2.8 billion in South Florida last year, according to CBRE, as new residents flocked to the area and people continued to shift from homeownership to rentals. Developers and other real estate professionals think the trend will continue for…
Five large development proposals will go before the Broward County Commission for approval on Feb. 9. Terra Group wants the county to sign off on a rezoning to Pembroke Pines City Center to allow its mixed-use project at the southwest corner of Pines Boulevard and Palm Avenue. The Miami-based developer plans to build a 300,000-square-foot…
WeWork’s first location on Lincoln Road WeWork, a shared office space provider that opened its first South Florida outpost on Miami Beach’s Lincoln Road last summer, now plans to open another site in the South-of-Fifth neighborhood. The space, at 429 Lenox Avenue, will open on May 1, the New York-based company said. WeWork South-of-Fifth plans…
A rendering of Miami Worldcenter The developers of Miami Worldcenter, recently re-imagined as a “High Street” retail concept similar to Lincoln Road, may be looking to fill their project with shopping giants like Zara, H&M and Victoria’s Secret that are at their other malls. The news was discussed at a Paramount Miami Worldcenter sales team…