The New York City-based global investment firm Blackstone has acquired the 2 and 3 MiamiCentral office buildings from Shorenstein Properties for $230 million. The office complex, which was developed in 2017 and 2018, spans 317,939 square feet.
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Jonathan Ovadia, real estate developer and CEO of AEXLAB.
Real Estate Developer Leads $560,000 Funding Round to Develop VR Gaming Experience
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.
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AB Asset Management Acquires Residence Inn Coconut Grove From Hersha Hospitality Trust
AB Asset Management has acquired the Residence Inn Coconut Grove, a three-building, 140-unit hotel at 2835 Tigertail Avenue in Miami’s vibrant Coconut Grove neighborhood. The 2 acre property sold for $31 million, which breaks down to roughly $221,429.
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Former Site Of Bal Harbour Yacht Club Hits The Market For $65 Million As Luxury Home Site
Real estate investor Joseph Imbesi has listed the former site of the Bal Harbour Yacht Club for $65 million. Imbesi purchased the shares of the Bal Harbour Club in the 1990s for $19,000,000. The Bal Harbour Club owned 5.5 acres on the beach, where Oceana Bal Harbour is now located
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Reuben Brothers-Led Venture Buys Out Fortress Investment Group's Debt Backing One Thousand Museum By Zaha Hadid Architects
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.
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Avison Young Oversees 28,503 SF Of Leases at TA Realty's Ponce Circle Tower In Coral Gables
Avison Young has negotiated two lease transactions totaling 28,503 square feet at Ponce Circle Tower, a class A office building at 2800 Ponce de Leon Boulevard in Coral Gables, Florida. Wicker, Smith, O’Hara, McCoy & Ford, P.A., signed a 27,238-square-foot long-term renewal, and Corona Family Limited Partnership signed a new 1,265-square-foot long-term lease.
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New Urban Communities Sells Azul Apartments In Stuart For $15.5 Million
The Delray Beach-based New Urban Communities, led by Kevin Rickard and Tim Hernandez, has sold Azul Apartments in Stuart for $15.5 million to the San Diego-based public REIT DiversyFund Growth REIT. The price breaks down to roughly $316,000 per unit.
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Suntex Marina Investors Acquires Prime Marina Miami In Coconut Grove
The Dallas-based Suntex Marina Investors LLC has acquired Prime Marina Miami in Coconut Grove. Terms of the deal were not disclosed but it does include the transfer of a 70-year lease on 111 boat slips which was recently signed by Prime Marina Group.
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RFR Holding And Tricap Partnership Acquire 12 Units At W South Beach For $10.78 Million
A partnership between Aby Rosen and Michael Fuchs’ RFR Holding and David Edelstein’s Tricap, who also co-developed W South Beach, have closed on the purchase of 12 units at the iconic beachfront condo-hotel for $10.78 million.
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Bar Invest Group Acquires 358-Unit Pembroke Pines Multifamily For $79.5 Million
Bar Invest Group, led by Herve Barbera, has acquired the 358-unit The Landings at Pembroke Lakes for $79.5 million, roughly $222,000 per unit. The property traded at a reported 4.5% cap rate and was 95% occupied at the time of sale.
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