Branch Banking & Trust Co. provided a $10.4 million construction loan to build a self-storage center in North Miami Beach. The bank (NYSE: BBT) awarded the mortgage to CRP/Westport Self Storage Dixie, a joint venture between the Carlyle Group and Westport Properties that operates as US Storage Centers. The company previously announced that it would…
Branch Banking & Trust Co. provided a $10.4 million construction loan to build a self-storage center in North Miami Beach. The bank (NYSE: BBT) awarded the mortgage to CRP/Westport Self Storage Dixie, a joint venture between the Carlyle Group and Westport Properties that operates as US Storage Centers. The company previously announced that it would…
Prive Land Banking and CK Holding Group filed plans for their third office condo building in the Aventura area. Aventura Square LLC, an affiliate of the two developers, submitted an application with county officials on Dec. 29 for the six-story project. It would be located at 18802 to 18820 West Dixie Highway, just outside Aventura.…
Seven major development proposals, including offices, residential, warehouses and a hotel, are pending in Miramar and could go before the city council early this year. The southwest Broward County city’s Development Review Committee reviewed these applications at its November and December meetings. They need city council approval to move forward. Space Coast Credit Union plans…
Tere Blanca President and CEO, Blanca Commercial Real Estate “South Florida is now a top-tier market for domestic and international investors looking to acquire real estate, as well as multinational firms looking to enter the U.S. We experienced a record level of real estate investment in 2015 and saw a significant uptick in absorption at…
There was a dizzying amount of commercial real estate transactions in South Florida in 2015 as investors sought out the stability of brick and mortar. Prices approached or surpassed the height of the real estate boom of the mid 2000s in many sectors. Cap rates in South Florida were low compared to other regions, which…
Clockwise from left: 5800 North Bay Road and Phil Collins, Faena House and Ken Griffin, and 17 Indian Creek Spec homes, mega-mansions, and vacant land — oh my. It was a banner year for residential sales in Miami, with big houses trading between even bigger names, from January all the way to December. The Real Deal…
Clockwise from left: Motorola Solutions campus, Miami Center and the Airport Corporate Center Cruise lines, tech companies and health care firms were among the largest office tenants inked in 2015. Click to enlarge The top five deals ranged from 120,000 square feet at Miami Center to nearly 260,000 square feet at a Plantation office campus. The Real…
The nine-story office building at 6262 Southwest Sunrise Drive in South Miami The real estate arm of a Fortune 500 company just paid $40 million for a fully leased office building in South Miami. USAA Real Estate Co., which invests in properties on behalf of the United Services Automobile Association, purchased the nine-story building at…