The office tower at 355 Alhambra Circle in Coral Gables The real estate investing arm of Prudential Financial just paid a whopping $83 million for the 355 Alhambra office tower in downtown Coral Gables. An affiliate of Prudential Real Estate Investors, which has an asset portfolio valued at $62.6 billion, purchased the 16-story tower through…
An affiliate of Miami-based Rilea Group acquired a site for a transit-oriented development near the Dadeland North Metrorail Station and the Dadeland Mall. FDG Rail Holdings 32 LLC, an affiliate of railway owner Florida East Coast Industries, sold the 2-acre site at the southwest corner of Southwest 70th Avenue and Southwest 85th Street for $13…
The New York Hilton Midtown at 1335 Sixth Avenue (inset: Christopher Nassetta) From the New York website: Hotel giant Hilton Worldwide Holdings is the latest company to pursue a REIT spinoff of its real estate holdings – an avenue that has become an increasingly popular option for companies looking for tax savings and a boost to…
Buenos días, South Florida. 1. ‘No-shame’ payday Jarden Corp. founder Martin Franklin is poised to nab $133 million if the purchase of his Boca Raton-based company by Newell Rubbermaid is OK’d by regulators. But in a recent TV interview Franklin said he had “no shame” about the compensation. The possibility of losing another Fortune 500…
The 355 Alhambra office building in Coral Gables was acquired by an insurance-backed group for $83.08 million, according to county records. CPT 355 Alhambra Circle, part of Boston-based AEW Capital Management, sold the 16-story building to PRII 355 Alhambra Circle, an affiliate of Prudential Real Estate Advisors. The seller was represented by HFF’s Herman Rodriguez,…
Looking at the number of new condominium projects under construction and in various stages of planning and approval, it seems as though a luxury high-rise condominium has been built upon every desirable site in South Florida, especially coveted waterfront parcels. Scores of old hotels, motels, apartment buildings and single-family houses have fallen or are scheduled…
All Aboard Florida, the most daring project in the Sunshine State’s history, faces fierce opposition from a well-financed Treasure Coast citizens group that wants the new train service to be rerouted around them. It also suffered a major financial setback when its plan to issue $1.75 billion in tax-exempt private bonds fell through, reportedly due…
Jarden Corp. moved to South Florida from Rye, New York, just 33 months ago, but the Fortune 500 company may not stay for much longer. The Boca Raton-based consumer goods company agreed to be purchased by Atlanta-based Newell Rubbermaid this week, and the companies are touting $500 million in potential savings if regulators approve the…
JLL made a huge move in the battle for commercial brokerage supremacy with the acquisition of Cresa South Florida. National brokerage JLL ranked fourth in the region with $1.45 billion in sales and lease volume in 2014, with Cresa South Florida at No. 14 with $310 million. Nearly all of Cresa South Florida’s deals were…