Deerfield Beach-based the Milhous Group sold five buildings in Palm Beach and Broward counties for a combined $51.4 million on a tight deadline to satisfy its lender. CBRE’s Jeff Kelly, Christian Lee and José Lobón represented the seller, led by Robert Milhous, in the deals. They all closed on May 31, the deadline for the…
The owners of the Inverrary Vacation Resort in Lauderhill filed Chapter 11 reorganization and will explore renegotiating its loan or selling the property. The Inverrary Resort Hotel Condominium Association, Nirvana Inverrary Lofts, and Alrames S.A. de C.V. Corp. filed related Chapter 11 cases in Bankruptcy Court in Fort Lauderdale on May 31. They own the…
The Hallandale Beach City Commission approved the 900 Building mixed-used tower on June 1. Hallandale Office Towers, managed by Alan Waserstein of Miami lakes-based LeaseFlorida, wants to build the 23-story, 415,882-square-foot tower at 900 S. Federal Highway, just west of the Village at Gulfstream Park. It was designed by BC Architects. The 900 Building would…
The Viceroy Miami hotel has sold for a big profit, and the transaction rebranded the property into a W hotel. Bethesda, Maryland-based Pebblebrook Hotel Trust (NYSE: PEB) on Thursday announced that it recently sold the luxury resort for $64.5 million after purchasing the property for $36.5 million in 2011. The buyer was Al Rayyan Tourism…
The Palm Beach County Commission will consider approving $67.5 million in bonds for three affordable housing projects on June 7. The tax-exempt bonds would be issued with the Housing Finance Authority of Palm Beach County and the money would be repaid by the developer, not the county. All of these projects would have significant construction…
An affiliate of Swire Properties acquired a site a block west of its massive Brickell City Centre project in Miami, a potential signal that it wants to expand its development plans. The first phase of the $1.05 billion, 5.4 million-square-foot Brickell City Centre should be completed in early 2017. Hong Kong-based Swire already holds the…
Rendering of China City Construction’s project at 6747-6757 Collins Avenue (in center) 1. China City residential tower is challenged in court [The Next Miami]3. Wynwood’s alcohol permits running dry [Miami Today]3. Court fight stalls plans for Fort Lauderdale water park [Sun Sentinel]4. Craig Menin picks up waterfront Palm Beach manse for $25M [Palm Beach Daily…
Colliers International South Florida recruited two top-performing brokers from rival firms to start a division focused on commercial real estate in the region’s urban centers. Marika ‘Mika’ Mattingly and Gerard Yetming join Colliers from Sterling Equity Realty and CBRE, respectively. Mattingly worked with investor Moishe Mana on the acquisition of dozens of properties along East…
A report by CoreLogic found that South Florida has the most properties in the nation at risk of storm surge. The study is a reminder that property owners and businesses should prepared for hurricane season, which starts today and runs through Nov. 30. The region’s building boom, largely in coastal areas, has placed more buildings…