A team of industry visionaries led by David Hunt Solomon have revealed plans to develop a $25 million state-of-the-art showpiece estate in Miami Beach’s exclusive Venetian Islands. Berkshire Hathaway HomeServices EWM Realty top-producer David Hunt Solomon announced that he has brokered and purchased a prime, 10,833-square-foot waterfront lot at 415 East Rivo Alto Drive for $6.959 million.
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Royal Palm Companies Locks Down 3rd Largest Construction Loan In Florida History For Legacy Hotel & Residences
Royal Palm Companies, led by Dan Kodsi, has locked down a $340 million construction loan from Silverstein Capital Partners for the sold-out Legacy Hotel & Residences in Miami Worldcenter in Downtown Miami. The loan represents the third largest construction loan in Florida history.
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The Last Development Parcel on The Ultra-Luxury Fisher Island Under Contract to Related Group, Teddy Sagi and BH Group Joint Venture
A joint venture between real estate leaders Related Group, Teddy Sagi and BH Group are under contract on Parcel 7, the last available development parcel in Miami Beach’s historic Fisher Island. The partnership plans to develop an ultra-luxury boutique condominium in what has come to be known as America’s wealthiest zip code.
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The Developers of One Thousand Museum by Zaha Hadid Architects Pay Off $90 Million Inventory Loan Following Miami Art Week Sales
The developers of One Thousand Museum by Zaha Hadid Architects have paid off a $90 million inventory loan following a successful Miami Art Week 2021 which saw two units sell for a combined $30 million. A local buyer from Miami purchased a full-floor unit and a foreign buyer purchased a sky townhouse unit.
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Miami-Based Private Equity Group Galium Capital Continues Rapid Expansion With Acquisition of Hanover Cross Street In Baltimore, MD
Galium Capital, LLC, a Miami-based private equity group, has announced the acquisition of Hanover Cross Street in Baltimore, MD. Hanover Cross Street is a 299-unit institutional-grade multifamily apartment building with an additional 12,000 square feet of retail located in Baltimore, MD.
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Major Food Group To Open Sadelle's In Coconut Grove At Former Tigertail + Mary Retail Condo Which Just Sold For For $5.5 Million
The Related Group and Terra Group joint venture that developed Park Grove in Coconut Grove has sold two retail condos in Park Grove including the former Tigertail + Mary restaurant space. Major Food Group, the restauranteurs behind Carbone and ZZ Sushi Club, will open their Sadelle’s concept at the former Tigertail + Mary space.
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Electra America Hospitality Group Acquires The Conrad Miami Hotel In Brickell Arch Tower
Electra America Hospitality Group (EAHG), a joint venture between Electra America and AKA, has acquired the Conrad Miami hotel in Brickell for $75.33 million. The seller was AG-M Miami Hotel Owner LLC, a JV partnership between the Miami-based Mast Capital and the New York-based Angelo Gordon.
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Finvarb Group Acquires The Landon Bay Harbor Hotel For $10 Million
Finvarb Group, led by Ronny Finvarb, has acquired The Landon Bay Harbor Hotel for $10 million, roughly $219,000 per key. The seller was BHI Hotel who acquired the property in 2007 for $3.9 million. The property was listed with David Cohen and Arthur Porosoff with Compass as well as David Greenberg with Marcus & Millichap.
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Windward at the Villages
Morgan Properties Acquires 3 Multifamily Communities In West Palm Beach For $132.5 Million
The Pennsylvania-based Morgan Properties has acquired three apartment communities in West Palm Beach totaling 622 units. Berkadia International Solutions’ Berkadia Miami completed the $132.5 million sale on behalf of the seller, Massachusetts-based Northland Investment Corporation.
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Lerner Acquires Motion at Dadeland High-Rise Multifamily For $114 Million
The Maryland-based Lerner Enterprises has acquired Motion at Dadeland for $114 million from the development partnership of 13th Floor Investments, Adler Group and Barings. Lerner received a loan from capital managed by KKR to finance the acquisition.
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