The Urbanica Meridian Hotel, located at 418 Meridian Ave on Miami Beach was recently sold by Urbanica, the group responsible for facilitating the revitalization of the dwindling Fifth Street Corridor through their development of staple lodging, food, and beverage establishments. The hotel sold to Miami-based investment firm, Cambridge Lansdowne, for $30.5 million.
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Fort Partners Pays Off $210 Million Construction Loan at Four Seasons Fort Lauderdale
Miami-based development firm Fort Partners has today announced that the $210 million construction loan for the Kobi Karp-designed Four Seasons Hotel and Private Residences Fort Lauderdale has been paid off. The loan, financed by Madison Realty Capital, became the largest residential construction loan in Fort Lauderdale history when it closed in 2019.
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Cordova Building In Fort Lauderdale Trades For $7 Million In Off-Market Office Transaction
The Cordova Building in Fort Lauderdale has sold for $7 million in an off market transaction. Southern Centers Associates I LP, led by longtime Fort Lauderdale developers and investors Kevin Buckley and Randall Kella, sold the 1500 Cordova Road property to Sunrise-based Centerline Capital Advisors.
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6111 Broken Sound Parkway In Boca Raton Signs Over 22,000 SF In Office Leases
Alchemy-ABR Investment Partners, a fully integrated New York based real estate investment firm- together with its joint venture partner, Breakers Capital Partners, a Miami based real estate investment firm, have announced that it has signed 22,241 SF of new leases and renewals at its Class A office building, 6111 Broken Sound Parkway in Boca Raton.
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North Miami Beach Financial Center In Opportunity Zone Trades For $9.3 Million
The North Miami Beach Financial Center, a 2.47-acre site featuring a two-story Regions Bank building located in an opportunity zone in North Miami Beach, has sold for $9.3 million. Ivan Herrera of Florida Royalty Investments Group LLC acquired property from Alberto Lensi of Addi Properties. Adam J. Tiktin and Greg Matus of Franklin Street’s Florida Investment Sales Team represented the seller in the transaction.
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KUSH Building In Wynwood Sells For $2.6 Million
2003 N Miami Ave., a mixed-use property which is home to longtime Wynwood staple restaurant KUSH, has sold for $2.6 million. The transaction closed on March 25. Matt Kuscher, owner of Kush Property LLC, purchased the property from Michael Lilov. Both sides of transaction were overseen by Devlin Marinoff, Tony Arellano P.A. and David Richman of DWNTWN Realty Advisors.
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Naftali Group Acquires Miami Worldcenter Development Site For $41 Million, Plans Two Supertall Residential Towers
The New York-based developer Naftali Group has acquired a development site at 1016 NE 2nd Ave. in Miami Worldcenter for $41 million and is planning two supertall residential towers. The site was acquired in partnership with Cara Real Estate Management. The seller was Akara Partners who acquired the site for $18.8 million in July 2020.
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Sabal Development Sells 10-Acre Parcel To Lennar Homes For $24.5 Million In Off-Market Transaction
Sabal Development, a Miami-based builder and developer who specializes in luxury custom homes led by Pascal Nicolai, has sold a 433,422 SF, 10.17-acre, parcel located at 8290 SW 120th Street in Miami, Florida for $24.5 million to Lennar Homes. The off-market transaction closed on March 23, 2022 with no listing agents involved.
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Forte Capital Management Flips Wynwood Industrial Property For $11.2 Million In Off-Market Transaction
Forte Capital, led by Chaim Cahane, and Sheridan Capital have flipped 2830 NW Fifth Ave. in Wynwood for $11.2 million just months after acquiring the industrial property for $6.35 million in December 2021 from Alex Karakhanian’s LNDMRK Development. The off-market cash transaction was brokered by Jordan Karp.
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Miami Worldcenter Completes Major Milestones Including 50K SF of Retail And 43-Story Bezel Tower
Miami Worldcenter has announced the completion of Block H, adding to the retail and parking components at the 27-acre project as active vertical development continues on the $4 billion mixed-use development in the heart of Downtown Miami. Block H is composed of 50,000 square feet of prime street-level and rooftop retail space.
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