Avison Young’s Florida Capital Markets Group closed the $7.55 million industrial sale-leaseback of the 105,000 SF RAM Steel Framing headquarters location at 7400 N.W. 37th Ave. in Miami. Zaragon, Inc., purchased the property.
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$800 Million Sale of Second Largest Hotel in South Florida Falls Through
A roughly $800 million deal between Jeffrey Soffer’s Fontainebleau Development to acquire Brookfield Property Partner’s Diplomat Beach Resort Hollywood was called off on May 8 as the effects of COVID-19 on South Florida’s hotel and tourism industries continues to cause havoc.
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Meridiam Becomes Lead Investment Partner in Miami Beach Monorail Consortium’s Beach Corridor Plan
The Miami Beach Monorail Consortium has announced that the global infrastructure investment firm Meridiam has become the lead investment partner for the Consortium’s proposed mass transit monorail that would connect Downtown Miami and Miami Beach.
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Clockwise from the top-left corner: James Tate, Demetri Demascus, Shahab Karmely and W. Allen Morris.
Why Rent Strikes Are Bad for Everyone and What’s Going to be Done about Unemployment?
Since thousands of businesses were deemed non-essential and forced to shut their doors, reemployment assistance claims over the last six weeks have surpassed two million in South Florida. With a tourism-dependent economy plus an older population, Florida is more vulnerable to economic shock, which is why it is one of the top five states with the highest number of claims.
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Fontainebleau Miami Beach's $975 Million CMBS Loan Entered Special Servicing March 30
The $975 million commercial mortgage-backed security loan (CMBS) issued in November 2019 for the 846-room Fontainebleau Miami Beach, located at 4441 Collins Ave., entered special servicing on March 30. When issued the loan was the largest CMBS hotel loan in South Florida.
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Commercial Real Estate Investment Bank Eyzenberg & Company Opens First Miami Office
The New York City-headquartered commercial real estate investment bank Eyzenberg & Company has expanded into Florida, opening a new office in Miami. It is the third location for Eyzenberg & Company, led by NYC dealmaker David Eyzenberg, as the firm continues to grow its capital solutions platform.
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Thomas D. Wood & Company Funds $42 Million For Windward Marina Group's Acquisition Of 3 Northeast Florida Marinas
Windward Marina Group has closed on the acquisition of three marinas in the Northeast Florida market with $42,000,000 in mortgage loan financings arranged by Thomas D. Wood and Company. Thomas D. Wood Jr. secured financing in the amount of $11,000,000 for the acquisition of St. Augustine Shipyard.
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Avison Young Completes 133,140 SF Of Industrial Leases In Broward County
Avison Young has announced it negotiated five industrial lease transactions totaling 133,140 SF in Broward County, Florida. The transactions were overseen by Avison Young Principals Tom Viscount and Wayne Schuchts.
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Galium Capitals Acquires 1333 Main Street Office Assemblage In Downtown Columbia, SC
Galium Capital, LLC, a Miami-based private equity group, has announced the acquisition of 1333 Main St. in Columbia, SC. 1333 Main St. is a premier office building and assemblage in the Downtown CBD of Columbia. The transaction closed for $29,350,000 on February 27, 2020.
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PROFILE Exclusive: Private Equity & Navigating A Changing Retail Landscape With Jacques Bessoudo of Galium Capital
Very few investors have been able to successfully navigate the changing retail and office market landscape’s as well as Galium Capital’s Managing Partner, Jacques Bessoudo. Building his firm to over $350 million of commercial assets in just two short years, Galium Capital is poised to be one of the major private equity players over the next decade in South Florida real estate.
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