Jonathan Ovadia, real estate developer and CEO of AEXLAB.
AEXLAB, virtual reality (VR) technology studio, has raised over $560,000 on Start Engine in just two weeks through a Regulation Crowdfunding (Reg CF) offering. Regulation CF, also known as equity crowding, is similar to Regulation A and allows companies to raise funds from the public.
Read More
A Reuben Brothers-led venture, which includes Fontainebleau Development, has bought out the remainder of Fortress Investment Group’s stake in the debt behind one Thousand Museum by Zaha Hadid Architects. Fortress Investment Group had initially provided a $225 million construction loan in 2016, half of which was later acquired by the Reuben Brothers-led venture before a portion was paid back by the developers.
Read More
The Estate Companies, Merrimac Ventures and Tricera Capital have secured a $56 million construction loan for Soleste Cityline, a multifamily development planned in Dania Beach. The loan was provided by Synovus Bank and the development partnership plans to break ground by the end of Q1 2021.
Read More
Great Gulf and Terrace Mountain Investors have obtained $110 million in construction financing from Bank OZK for LA CLARA, a 25-story, 83 unit condo tower under construction in West Palm Beach. Sales have reportedly eclipsed 50% and over $100 million including an $8.9 million penthouse.
Read More
First American Bank celebrated the grand opening of its new Westchester branch location at 9696 SW 40th Street, which will replace its temporary Florida International University facility. First American, which acquired the Bank of Coral Gables in 2014 and Continental National Bank in 2019, now has six branches throughout Miami-Dade.
Read More
The Chicago-based CA Ventures has acquired The University Park student housing complex in Boca Raton for $80 million, roughly $503,000 per unit. The deal was financed with a $52.35 million Fannie Mae mortgage by Grandbridge Real Estate Capital.
Read More
Aztec Group, Inc. has secured $12 million in non-recourse financing for Kirkman Oaks Shopping Center in Orlando, Florida, overseen by Brell Tarich and Charles Penan. Kirkman Oaks is an 98,000-square-foot neighborhood retail center anchored by Publix Supermarket and Davita Dialysis.
Read More
An entity tied to the Mattos family, led by Carlos Mattos and his children, Nicolas and Isabella Mattos, have acquired the Waterway Shoppes of Weston for $20.45 million, roughly $501 per square foot. Waterway Shoppes of Weston was developed in 1999 and was acquired by the seller, Waterway Ventures LLC, an entity tied to Fondo Atlas and Dylan Fonseca, for $15.3 million in May 2015.
Read More
MG Developer, led by CEO Alirio Torrealba, has locked down $16.15 million in equity financing to complete two luxury townhome projects in Coral Gables, Biltmore Row and Althea Row. The projects are currently under construction after broking ground in February 2020.
Read More
The Greensboro, NC-based Bell Partners has acquired two apartment communities in Boca Raton, The Lumin at Boca Raton and Cade Boca Raton, for $94.25 million. The Lumin at Boca Raton and Cade Boca Raton are located within the Park at Broken Sound, at 5500 Broken Sound Blvd. and 950 NW Broken South Parkway respectively.
Read More