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…
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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
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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…
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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…
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The developers of the Auberge Beach Residences & Spa Fort Lauderdale signed a $132 million construction loan to bring the project to the finish line about nine months after breaking ground. The team of the Related Group, Fortune International Group, Macar and Fairwinds Group are building the 171-unit project at 2220 N. Atlantic Blvd. After…
DetailsNon-profit affordable housing developer Carrfour Supportive Housing signed a deal with the Pride Center to build an LGBT-focused senior housing community on its Wilton Manors campus. The Pride Center, a non-profit LGBT community center, owns its 5-acre Equality Park campus at 2040 N. Dixie Highway. It secured city approval to redevelop it in partnership with…
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The developer of the Surf Club Four Seasons in Surfside has filed plans for a second phase of the oceanside project. Fort Capital, led by Nadim Ashi, is nearing completion of the 150-unit condo and the 80-room hotel at 9011 Collins Ave. It’s among the most expensive projects in South Florida, with units priced from…
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A company controlled by wealth couple Melissa Potamkin Ganzi and Marc C. Ganzi acquired a 102.8-acre equestrian estate in Wellington for $27.29 million. The property at 10366 Wellington Preserve Blvd. has 120 horse stalls. That should come in handy for the couple, since they both own polo teams and have been known to take the…
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Wurzak Hotel Group and DoveHill will soon break ground on a dual-branded hotel north of downtown Fort Lauderdale. Bank of the Ozarks (NYSE: OZRK) awarded a $56.1 million, four-year construction loan to the developers for the 23-story project at 299 N. Federal Highway. The loan was brokered by Meridian Capital Group’s Ronnie Levine and Aggelos…
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