Parkstone Capital Partners seized a Plantation office building through foreclosure after purchasing its distressed mortgage at a significant discount. U.S. Bank, representing a commercial mortgage-backed securities (CMBS) trust, previously won a $12.4 million foreclosure lawsuit against NNN DCF Campus LLC and 32 related parties that jointly own the buildings at 311, 313 and 343 North…
Not only will the Panorama Tower in Miami’s Brickell be the tallest building in Florida once it’s completed in late 2017, it’ll be one of the most technologically advanced with a $4.5 million high-speed network. That’s how much Miami-based Atlantic Broadband has committed to invest in Florida East Coast Realty’s 83-story project. Getting exclusive contracts…
The second phase of the Riverbend retail center in Fort Lauderdale, featuring one of South Florida’s first Wawa stores, has broken ground after securing a $26 million construction loan from City National Bank of Florida. Gatlin Development Co. obtained the mortgage with help from Aztec Group’s Jason Shapiro, Jim Fried and Sean Harrington. The project…
The Peruvian consulate will move from Miami’s Brickell Avenue to Coral Gables after it paid $4.5 million for an office building. Marcus & Millichap’s Douglas K. Mandel, Benjamin H. Silver and Richard Niewiadomski represented seller 1401 Ponce de Leon Real Estate Holdings, a New York-based company managed by Albert Gad. The consulate was represented by…
Prologis sold six industrial buildings in Broward and Palm Beach counties to an investment fund headed by Aventura-based Adler Kawa Real Estate Advisors for a combined $33.2 million. This was the latest deal in a $53 million commercial real estate fund that Adler Kawa recently raised. In 2015 under the same fund, it paid $32.25…
A recently constructed CVS pharmacy store in Hallandale Beach traded for $16.02 million. MC Hallandale Beach FL Landlord, an affiliate of Atlanta-based SunTrust Equity Funding, sold the 15,551-square-foot building to 2101 Hallandale LLC, managed by Donna Chiaia in Clifton, New Jersey. The price equates to $1,030 per square foot – one of the highest marks…
With four developers bidding to build a massive tower and a cultural arts center on Miami Dade College’s downtown campus, college officials recommended that two of the proposals advance to negotiations. The college’s Public Evaluation Committee recommended negotiations with both the Related Group and Nader + Museu LLP for the public-private partnership at 520 Biscayne…
From the New York website: A lot foreign investors tried to clamber aboard the EB-5 train in 2015, fearing it would leave the station. The number of applications for the controversial investments-for-visas program climbed to just under 17,791 in 2015, up from just over 11,744 in 2014 and 6,554 in 2013, according to U.S. Citizenship and…
REUTERS/Carlos Barria The next housing crisis is here. And this time the crisis is all about one thing: supply. Following the mid-aughts housing bubble that saw homeowners across the country get themselves upside down in homes and mortgages they couldn’t ever afford to repay — a crisis that was as much about too much supply as…
Publix Super Markets Inc.’s plans for Virginia are shaping up to include the state’s densely populated northern corridor. The Lakeland grocer — which has 770 stores statewide, including dozens in Central Florida — has hired a broker to represent it in Northern Virginia, reports the Washington Business Journal, a sister news organization. For the first…