- Santander Bank and Fifth Third Bank have issued an $89 million for the first tower at Miami Worldcenter’s Seventh Street Apartments. The first phase of the project includes 444 units in a 43-story tower and a second tower is planned with 413 units.
- Gil Dezer won court approval for the $28.5 million purchase of a Hillsboro Beach development site, which is being sold out of bankruptcy by embattled home builder John Kennelly.
- Swedish firm Contentus AB has purchased Related Group’s newly built Davie apartments for $59M.
- Nightingale has paid $80M to purchase Miami Beach’s Lincoln Place office building which is fully leased to LNR Partners until 2021.
- Lennar has completed the purchase of another development site at American Dream Miami for $51M to add to their adjacent lot immediately south which they paid $41M for in January. Their total invested in the assemblage is now $96 million.
Weekly Construction & Real Estate News Round-Up 12/19
- SLS LUX Brickell has topped off at 58 stories.
- PARAMOUNT Miami Worldcenter is closing in on a construction loan to complete the project after they officially completed acquisition of the site for $26.275 million from Art Falcone and Miami Worldcenter Associates. The project is over 55% sold.
- One Thousand Museum secures $225 million construction loan.
- Midtown 5's first residents move-in. Rent's around $3 SF.
- Genting’s Resorts World have taken over operations at the Gulfstream Park casino in Hallandale Beach. Genting is trying to have those casino operations moved to downtown Miami.
- The developer of the Metropica master-planned community in Sunrise, YOO, has launched pre-construction sales of six loft-style condos with prices starting just under $400,000.
- Alan Faena’s companies hit with second lawsuit from dissatisfied buyer
Suit alleges $7.3M unit had cracked mirrors, missing appliances and no kitchen cabinets