Kolter Group secured a $42.6 million construction loan for its Hyatt Place Hotel project in downtown Boca Raton. Regions Bank awarded the mortgage to DK Palmetto, an affiliate of West Palm Beach-based Kolter Group, for the hotel under construction at the southeast corner of Palmetto Park Road and South Federal Highway/U.S. 1. Kast Construction is…
A Brooklyn company went shopping for retail real estate on South Beach and came away with a shoe store property for $2,766 per square foot. Collins/Eighth LLC, a Canadian company managed by Marie-Andree Boutin, sold nine commercial condo units at 751 Collins Ave. for $10 million to 181/182 Prospect Park Associates. The Brooklyn-based buyer, which…
Downtown Miami and Peter Zalewski The year 2015 may well prove to be the pivotal moment for South Florida during this current preconstruction condo boom. As South Florida enters the fifth year of the real estate cycle, a number of trends began to take hold in 2015 that could influence the longevity of this…
A December 2011 photo of the Miami skyline (Credit: John Spade) Home prices in South Florida maintained their continued growth during October, according to a monthly report from S&P/Case-Shiller. The tri-county area saw prices appreciate by 8 percent year-over-year, marking the sixth-biggest price jump in the country. Ahead of South Florida were Denver, Portland and…
The Vista Lago multifamily community in Miami Fortune Capital Partners just bought a 135-unit condo portfolio near the Miami Executive Airport for $17.5 million. Included in the sale were more than half of the units in the Vista Lago condo complex 10560 Southwest 156th Place. They were sold by the Philadelphia-based RAIT Financial Trust, which…
116 New York Avenue in Flatbush (inset: Beyonce) From the New York website: All the single ladies buying a house, put your hands up. According to a survey by real estate brokerage Redfin, single women may soon make a comeback in the housing market. Redfin’s surveys found that a majority of prospective homebuyers are women,…
The owner of a beachfront retail strip in Fort Lauderdale has listed the property for sale as a redevelopment opportunity. The asking price for Aquatic Center Plaza at 2933 S.E. 5th Street is $29.75 million. Marcus & Millichap’s Scott C. Sandelin and Edward Romo represent the owner, Sophia Enterprises, a local company managed by Aiton…
Cranes, hard harts and excavators spread out across South Florida in 2015 as dozens of major real estate projects broke ground. Some ground breakings were glitzy, with the traditional golden shovels and receptions in air conditioned tents, while others were under the radar as construction equipment started digging into the earth. Check out this slide…
2999 Northeast 191st Street, Aventura In Aventura’s priciest office sale of the year, Aventura View traded Monday for nearly $40 million. The 10-story, 107,304-square-foot office building at 2999 Northeast 191st Street sold for nearly double the $20.5 million purchase price that partners Steelbridge Capital and Apollo Global Real Estate had paid for in 2012, the…
A large Telemundo television studio could be built in west Miami-Dade County near the Dolphin Mall according to plans foreshadowed by a development application. Prologis (NYSE: PLD) affiliate AMB Codina Beacon Lakes filed an application with county officials on Dec. 23 that would amend its Beacon Lakes project with additional space for industrial buildings, which…