Prologis sold a three-property retail portfolio in southwest Broward County to a a joint venture between DDR Corp. and Blackstone for $56.5 million. In the biggest of the simultaneously recorded deals, Morris Miramar Associates, part of Prologis (NYSE: PLD), sold the Fountains of Miramar at 3001 S.W. 160th Ave. (Dykes Road) for $35.79 million to…
Advance Tower, the South Miami office building where Interval International has its headquarters, was sold for $40 million. JW Advance LLC, a Boca Raton-based company managed by Jeffrey J. Weiss, sold the nine-story office building at 6262 Sunset Drive to US RV VI Sunset Drive LLC, an affiliate of USAA Real Estate Co. Cadence Bank…
The Aventura View office building sold for $38 million, an 85 percent gain over its price from three years ago. Steelbridge Concorde, a partnership between Steelbridge Capital and Apollo Global Real Estate, sold the 10-story office building at 2999 N.E. 191st Ave. to COFE CIX Aventura. The buyer, a Miami-based company managed by Mario A.…
Miami skyline (Credit: Wyn Van Devanter), from left: Carlos Melo, Ugo Colombo, Gil Dezer, David Polinsky and Jack McCabe Despite high confidence among prominent Miami developers that the real estate market is not due for a significant downturn in 2016, some experts are cautioning that sales will continue to dip, which could possibly ignite a…
Janet Yellen From the New York website: Could the Federal Reserve’s interest rate hike this month prove the end of an era? The Fed’s first interest rate increase in nine years may very well signal the end of a cycle that has seen 33 straight months of price growth of at least 10 percent in…
A developer wants to build a mixed-use project in Miami-Dade County’s Model City neighborhood with a supermarket on the ground floor and apartments above. Par Family Enterprises, owned by Pedro Omar Rodriguez and Ana V. Rodriguez in Miami Beach, filed an application with county officials on Dec. 22 for the project at the southwest corner…
A developer wants to build a mixed-use project in Miami-Dade County’s Model City neighborhood with a supermarket on the ground floor and apartments above. Par Family Enterprises, owned by Pedro Omar Rodriguez and Ana V. Rodriguez in Miami Beach, filed an application with county officials on Dec. 22 for the project at the southwest corner…
Part of the Falls Country Club in western Palm Beach County could be redeveloped into a retail and restaurant center. On Jan. 7, the county commission will consider a proposal to rezone the 3.5-acre property at the northwest corner of Jog Road and Hypoluxo Road – on the edge of its golf course – for…
A June 2011 photo of the downtown Miami skyline (Credit: Marc Averette) and a foreclosure sign A strong housing market kept flushing foreclosures out of Miami-Dade County in October, according to a new CoreLogic report. Out of all Miami-Dade’s outstanding home mortgages, only 3.21 percent were in some stage of foreclosure. That’s a decrease of…
From the New York website: Real estate investment trusts had a bit of a rough year despite the surge in the wider market, but a change in policy at the S&P 500 and MSCI are likely to provide a tailwind for the firms in 2016. The two stock indices are planning to separate real estate…