MG Developer and Baron Property Group, in partnership with Township Capital, have secured a $148 million construction loan from Post Road Group for Metro Parc, a 10-story, two-tower apartment rental property located at 955 East 25th Street and 980 East 26th Street in Hialeah, Florida. Metro Parc is a 2.5-acre residential mixed-use development that will rise 10-stories and deliver 559 rental apartments ranging from 500 to 800 square feet.
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Pulso Capital Acquires Stellar At Palm Aire Build-For-Rent Townhome Community For $21.5 Million
Pulso Capital has acquired Stellar at Palm Aire, a new build-for-rent community consisting of 39 townhomes located in the center of the Palm Aire Country Club in Pompano Beach, Fl., for $21.5 million, or $551,282 per unit. The sale and financing were overseen by Berkadia. Effective rent in South Florida rose 25.2% year over year, according to Berkadia Research, driven by an influx of new residents and corporate migrations over the last 12 months.
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Neology Life Development Group Locks Down $57.5 Million Construction Loan For 'Fourteen Residences Allapattah'
Lissette Calderon’s Neology Life Development Group has locked down $57.5 million in construction financing for Fourteen Residences Allapattah, a two tower, 237-unit apartment community located in Miami, Florida. Senior Managing Director Charles Foschini, Managing Director Chris Apone and Senior Analyst Shannon Wilson of Berkadia Miami secured the financing on behalf of Neology Life Development Group.
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Lynd Living Locks Down $22.75 Million In Financing For Miami Worldcenter Site Acquisition
Lynd Living has acquired Block 23 at Miami Worldcenter for $30 million, financed by a $22.75 million acquisition land loan. Block 23 is located between NW 9th and NW 10th Street on North Miami Avenue and is one of the last remaining land sites within Miami Worldcenter, the 2nd largest master planned community in the country, behind New York City’s Hudson Yards. The transaction closed on August 26th.
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Redevelopment Of Hollywood's Bread Building Site Secures $83 million Construction Loan
In partnership with Bridge Investment Group, Fort Lauderdale-based BTI Partners has secured an $83 million construction loan for a development in downtown Hollywood. The site was home to the long-neglected Hollywood Bread Building on Young Circle. The building was demolished last year. Canadian Imperial Bank of Commerce is the lender.
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Dacra Secures $43.5 Million Loan To Refinance 4141 Office/ Retail Building In Miami Design District
Dacra has locked down a $43.5 million loan to refinance a 112,896-square-foot, mixed-use property located in the Miami Design District. Berkadia Managing Director Scott Wadler, Senior Director Matthew Nihan and Senior Analyst Michael Basinski of Berkadia Miami secured the financing on behalf of Dacra, the pioneer of the Miami Design District, owning well over one million square feet.
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Gridline Properties Represents Seller And Buyer In Sale Of Ebb & Flow Retail Strip Center In Miami's Little River District
Ebb & Flow, a retail strip center in Miami’s Little River District, has sold for $18.15 million, marking one of the largest sales in the neighborhood, testifying to the areas growth the progress. Ebb & Flow is a unique retail strip center comprised of two buildings on two lots measuring 32,000 square feet and 81,224 square feet.
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Dubai-Based DAMAC Properties Closes On $120 Million Surfside Site Of Collapsed Condo, To Build Cavalli-Branded Condo
The Dubai-based DAMAC Properties, who was revealed as the she stalking horse bidder for the site of the former Champlain Towers South in Surfside, Florida which tragically collapsed in June 2021, has closed on the site for $120 million. DAMAC Properties, led by billionaire developer Hussain Sajwani, is planning to develop a Cavalli branded condo project on the site.
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DRA Advisors and CP Group Acquire Iconic Office Building 'Miami Tower' In Downtown Miami For $163.5 Million
DRA Advisors and CP Group have acquired Miami Tower, a 627,152-square-foot trophy office tower in Downtown Miami’s Central Business District for $163.5 million. Mike Davis, Dominic Montazemi, Mike McDonald, Miguel Alcivar, Rick Brugge, Rick Colon, and Adam Spies of Cushman & Wakefield represented the seller, USPO Miami, LLC, in the transaction.
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We Florida Financial Sells Fort Lauderdale Site to AutoNation for $11.8 Million
AutoNation has acquired a Fort Lauderdale site from We Florida Financial for $11.8 million. The 71,307 square foot property features prominent frontage on South Federal Highway in the heart of Fort Lauderdale. The property is located on 1300 S. Federal Highway plus 617 and 705 N.E. 14th St with maximum exposure to passing traffic.
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