Construction has begun on the largest mixed-use development to take shape in Miami’s historic Overtown neighborhood in decades, paving the way for new shopping and dining options, affordable residences for seniors, and thousands of job opportunities.
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The Estate Companies Sells Recently Completed Soleste Alameda Multifamily Development In West Miami For $83 Million
The Estate Companies (EIG) has sold Soleste Alameda, a recently completed luxury eight-story development with 306 rental units at 6320 SW 8th St. in West Miami. Dallas-based Westdale Real Estate Investment and Management (Westdale) acquired the asset for approximately $83 million.
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The Texas-Based LYND Acquires 234-Unit Parc Place Multifamily In Miami For $40.08 Million
The San Antonio, TX-based LYND continues its robust investment activity in South Florida with the acquisition of a 234-unit garden-style apartment community in Miami. The Texas-based multifamily investor, developer and operator paid $40.08 million for the Parc Place Apartments, located at 17600 NW 5th Ave.
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Miami-Based Private Equity Group Galium Capital Expands Houston Portfolio with Acquisition of 431-Unit Tate at Tanglewood
Galium Capital, LLC, a Miami-based private equity group, has announced the acquisition of Tate at Tanglewood in Houston, TX. The Tate at Tanglewood is a 431-unit institutional-grade multifamily apartment building in Galleria District of Houston. The transaction closed on May 27, 2021.
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LeFrak Acquires Marina Del Rey Apartment Complex In Miami Beach From The Finvarb Group For $24.5 Million
Billionaire New York real estate investor Richard LeFrak’s LeFrak organization has acquired the Marina Del Rey apartment complex in Miami Beach from The Finvarb Group for $24.5 million, $226.852 per unit. The waterfront multifamily property is located at 1006-1022 Bay Drive in Miami Beach.
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KAR Properties and Fortune International Group Buy Out Remaining Reach and Rise Residences at Brickell City Centre
KAR Properties and Fortune International Group have bought out the remaining 81 unit inventory at Reach and Rise Residences at Brickell City Centre, officially marking the sell out of the residential development. KAR Properties and Fortune International Group will be focusing on selling the recently purchased units with Fortune Development Sales leading these efforts.
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The Transit-Oriented Mixed-Use Development CORE Link at Douglas Launches Leasing
The transit-oriented CORE Link at Douglas, a new 312-unit mixed-use multifamily tower, has launched leasing at the intersection of Coconut Grove and Coral Gables. Slated to open in August at 3060 SW 37th Avenue, CORE will become the first tower to open at Link at Douglas.
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The Estate Companies Locks Down $76 Million Construction Loan For Soleste NoMi Beach In North Miami Beach
The Estate Companies, a subsidiary of Estate Investments Group (EIG), has locked down a $76 million construction loan for Soleste NoMi Beach apartments in North Miami Beach. The financing was provided by Bank OZK was arranged by Brian Gaswirth and Michael DiCosimo of JLL.
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New Urban Development Proposes View 29 With Affordable And Workforce Housing In Wynwood
New Urban Development, an affiliate of non-profit organization The Urban League of Greater Miami, has proposed View 29 in Wynwood. The residential project is located at 2901 NW 2nd Ave. and will offer a mix of affordable and workforce housing to help address the shortage of affordable housing in Miami.
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Melo Group Locks Down $99 Million Refinancing For Miami Plaza Apartment Tower In Downtown Miami
Melo Group has locked down a $99 million refinancing for its recently delivered transit-oriented Downtown Miami apartment tower, Art Plaza. The 36-story, 425-unit Art Plaza, which is located at 1500 Northeast Miami Plaza, is now 95% leased after Melo Group delivered the building in July 2020.
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