The Bear’s Club, a Jupiter golf course co-developed by golf legend Jack Nicklaus, settled a federal lawsuit over Clean Water Act violations with a $400,000 civil penalty. The U.S. Attorney for the Southern District of Florida filed a civil complaint in October 2015 against several Bear’s Club development entities, Clarendon Properties Group, Ivan C. Frederickson…
A subsidiary of sugar producer Florida Crystals obtained a $40.6 million construction loan to break ground on its Midtown Residences at Coconut Creek. This is one of the largest residential projects in the city’s Main Street redevelopment area at State Road 7 and Sample Road. All projects in the area were required by be LEED…
The developer of a retail building in the Miami Design District, where rents have soared as luxury stores open, has listed the property for $15.5 million. MV Construction & Development Group, led by President and CEO Manny Angelo Varas, recently topped off construction of the 22,000-square-foot building at 4136 North Miami Ave. in Miami. The…
Rendering of Mana Wynwood (Inset from left: Moishe Mana, David Polinsky and Joe Furst) It seemed to be a done deal. After months of negotiations, Moishe Mana and the Wynwood Business Improvement District had reached an agreement laying the groundwork for the developer’s plans to build a sprawling arts-focused commercial district in the neighborhood. But…
Construction cranes Despite a big drop in construction starts in South Florida’s residential sector, overall building contracts were up in July compared to the same month last year. More than $1.43 billion worth of contracts were signed in July compared to the $1.36 billion for July 2015, according to a new report from Dodge Data &…
The owner of the Country Club Village apartment complex in Boca Raton filed Chapter 11 reorganization one day before the property was set for foreclosure auction. In July, CF SBC Pledgor 1 2012-1 Trust, managed by CWCapital Asset Management on behalf of a securitized mortgage fund, won an $11 million foreclosure lawsuit against Club Village…
Downtown Miami skyline (Credit: Miamiism) 1. Zika politics in Miami translates to lots of talk but little action [Miami Herald]2. Why some CRE owners are skipping hurricane insurance [GlobeSt]3. Hyde Beach House to break ground shortly in Hollywood [Curbed Miami]4. Metrorail is too costly for Miami’s future [Miami Today] — Sean Stewart-Muniz
The owner of Palmetto Plaza in Hialeah filed Chapter 11 reorganization, although the retail center is fully leased. Bremar Development filed Chapter 11 in U.S. Bankruptcy Court on Aug. 17 with a petition signed by managing member Jorge D. Marrero. That automatically stayed a foreclosure lawsuit filed on June 29 by First-Citizens Bank & Trust…
A June 2011 photo of the downtown Miami skyline (Credit: Marc Averette) and a foreclosure sign June marked yet another month for Miami-Dade County’s shrinking foreclosure rate, according to a new report. CoreLogic, a real estate research firm, released a report Wednesday stating the county’s foreclosure rate had fallen 1.23 percentage points year-over-year to 2.39…