The developers of Five Park, a 48-story residential tower coming to the entrance of South Beach at 500 Alton Road, has locked down a $345 million construction loan. The loan is the largest residential construction loan to be funded in South Florida since the pandemic took hold.
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Adler Group's Nexus Riverside Mixed-Use Multifamily Approved In Downtown Miami
Adler Group’s mixed-use Class-A multifamily project Nexus Riverside has been approved by Miami’s Planning & Zoning Department. Located at 230 SW 3rd St., Nexus Riverside will be a multi-phase project in which Phase 1 will feature 428 apartments units and 278,379 square feet of office.
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Una Residences by OKO Group and Cain International.
OKO Group and Cain International Complete $74 Million in Condo Sales Since the Start of the New Year at Miami’s Missoni Baia and Una Residences
Miami’s newest luxury condominium towers are tapping into a surge of domestic buyers fueled by the city’s desirable quality of life, lower business and living expenses, and Florida’s tax-friendly policies.
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Terra And Grass River Property Break Ground On Grove Central In Coconut Grove
Terra and Grass River Property have broken ground and are beginning vertical construction on Grove Central, a new mixed-use multimodal transit hub at the entrance to Miami’s Coconut Grove neighborhood. When complete Grove Central will be 23-story apartment building and home to South Florida’s newest Target and Total Wine stores.
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First New Miami Building Breaks Ground in 2021
On Thursday, February 11th, Natiivo Miami - the first building purposefully designed, built and licensed for homesharing - officially broke ground in Downtown Miami. This event marked the first residential/hospitality groundbreaking post-pandemic and the first of 2021. The building, in the heart of Downtown Miami, is slated to top off in August 2022 and completion is projected for Q3 of 2023.
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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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The Estate Companies, Merrimac Ventures And Tricera Capital Secure $56 Million Construction Loan For Soleste Cityline Apartments
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.
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Coworking Provider Industrious Coming To The Dorsey In Wynwood
Coworking provider Industrious has signed a lease for 41,000 square feet at The Dorsey in Wynwood which will be their third location in the Miami area and eighth in Florida. Industrious expects the Wynwood location to open in 2022.
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Terra And New Valley Break Ground On Natura Gardens Multifamily Development In Northwest Miami-Dade
Terra and New Valley have broken ground on Natura Gardens, a 27-acre multifamily development encompassing 460 garden-style rental apartments. The news comes approximately one year after the partnership finalized the purchase of a 72-acre development site in northwest Miami-Dade.
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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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