The developer of the Gale Residences Fort Lauderdale Beach obtained a $35.6 million construction loan four months after starting work on the site. Dallas-based Hall Structured Finance awarded the mortgage to Tiffany House, a joint venture between Newgard Development and Merrimac Ventures. Miami-based Aztec Group secured the financing for the developer. Demolition started on the…
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A developer wants to transform an 80-year-old apartment building in Miami Beach into the Sadigo Court Hotel, designed by prominent local architect Kobi Karp. The city’s Historic Preservation Board will consider the application by Sadigo Hotel LLC on Aug. 9. The developer is an affiliate of Bay Harbor Islands-based Blue Road and is owned by…
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Two teams of prominent developers are competing to land a major redevelopment opportunity on Miracle Mile in downtown Coral Gables. Miami-based The Related Group and Coral Gables-based Allen Morris Co. have proposed the $250.5 million Coral Gables City Center, while Miami Beach-based Terranova Corp. and Orlando-based ZOM Living have partnered to propose the $184.8 million…
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PriceSmart PriceSmart, a publicly traded warehouse chain and operator of membership warehouse clubs, has outgrown its space so much so that it’s building a new facility at Flagler Station. The company, which is the largest operator of such clubs in Central America and the Caribbean, currently operates in 360,000 square feet at Flagler Station II.…
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Warehouse club chain PriceSmart signed a lease for a 330,000-square-foot distribution center to be built at Flagler Station in Medley. The San Diego-based company (Nasdaq: PSMT) was represented in the deal by Transwestern’s Ben Eisenberg, Walter Byrd, Thomas Kresse and Carlos Gaviria. They also helped PriceSmart extend its lease for 100,000 square feet in its…
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Firestone at 1575 Alton Road Miami Beach residents could once again be filling up at the old Firestone service station on Alton Road – except instead of getting gas and new tires, they’ll be munching on gourmet treats. Keith Menin The iconic building, which dominates the 1500 block of Alton Road, opened in 1939 and…
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National homebuilder K Hovnanian secured part of the Boca Dunes Golf & Country Club in West Boca for development. Cove Club Investors, a Boca Raton-based company managed by David D. Welch, sold about 42 acres of the 147.5-acre golf course for $10 million. The buyer was Boca Dunes – Boca Raton L.P., an affiliate of…
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The Fed Food & Drink The Fed, formerly the Federal Food & Drink, has shuttered only months after reopening with a revamped menu and design. The Fed closed over the weekend with owners choosing not to renew their lease at the Little Haiti building, at 5132 Biscayne Boulevard in Miami. Instead, owners Ani Meinhold and…
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A 360,989-square-foot mixed-use project has been proposed along the ocean in Pompano Beach by heavyweight New York developer Chetrit Group and Hollywood partner Ari Pearl. The city’s Development Review Committee will consider the site plan for the Oceanside Pompano Beach project on Aug. 3. The application was submitted by JJ Land Realty for the 3.75-acre…
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