Elevate Partners, led by Scott Bodenweber and Tom Vogel, have locked down $92 million in 3-year bridge financing with optional extension for Four West Las Olas. The loan was provided by the New York-based Benefit Street Partners Realty Trust, who provided $76 million of senior debt, and the West Palm Beach-based Electra Capital who provided $16 million in mezzanine financing.
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Construction On Missoni Baia Passes Halfway Point Milestone In Edgewater, On Track For 2021 Delivery
Vertical construction on Missoni Baia, a 57-story waterfront glass tower now rising along Biscayne Bay at 777 NE 26th Terrace in Miami’s Edgewater neighborhood, has reached the milestone halfway mark. The building’s general contractor, Civic Construction, has completed the skyscraper’s 28th floor, with about one full level expected to be completed every week going forward until top-off in March 2021.
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Coral Rock Development Group Closes On $53.5 Million In Construction Financing For Pura Vida Hialeah
Miami-based Coral Rock Development Group has announced that they have closed on a $53.5 million participating construction, mini perm loan for the residential portion of Pura Vida Hialeah, a nine-acre mixed-use project that is transforming Hialeah and is set to be the first of its kind in the area in more than 20 years. Principal Real Estate Investors served as the lender.
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Elysee Reports $30 Million In Sales As Tower Nears Completion This Fall In Edgewater
Two Roads Development plans to deliver their Elysee condo tower in the next 60 days so that residents can enjoy their new home in time for winter as the COVID-19 pandemic and a fast-approaching winter season has sparked demand for South Florida property from northeast buyers.
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Related Group Launches Sales At The Arquitectonica-Designed Solemar In Pompano Beach
The Related Group, one of the premier real estate developers in South Florida, has launched sales of Solemar, a luxury beachside condominium in Pompano Beach. The 105-residence building is the first-of-its-kind for the city of Pompano Beach, as it is currently the only on-the-sand luxury offering in this dynamic coastal enclave.
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Gatsby Enterprises Acquires DiVosta Towers Office Complex In Palm Beach Gardens For $80 Million
A joint venture led by the New York-based real estate investment firm Gatsby Enterprises has acquired the DiVosta Towers office complex in Palm Beach Gardens for $80 million. Gatsby Enterprises is led by Nadar Shalom and the complex was acquired in partnership with Master Mind LLC, led by Babak Ebrahimzadeh.
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The Corcoran Group To Take Over Sales Of DDG Development's 3550 South Ocean's Remaining Inventory
The Corcoran Group has been appointed to take over sales of the remaining inventory at 3550 South Ocean, a luxury condo project being developed by DDG, led by Joe McMillan. Sales will be led by Kerry Warwick who had previously oversaw pre-construction sales of the project with Douglas Elliman.
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MiamiCentral Station Reveals Stantec Interiors for Park-Line Miami Residences By Brightline
MiamiCentral Station has revealed the new Stantec-designed interiors of the new two-tower, 816-unit Park-Line Miami Residences by Brightline. The globally-acclaimed architecture and design firm Stantec designed the lobby interiors of the north tower plus the amenity spaces, corridors, and unit finishes of both 30-story towers, located above Brightline’s MiamiCentral passenger rail station.
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ESJ Capital Partners Proposes 300-Room Hotel At Jungle Island Redevelopment On Watson Island
ESJ Capital Partners have proposed to bring a 300-room hotel designed by the Miami-based EoA Group to Watson Island as part of the redevelopment of Jungle Island. Voters approved the hotel development in August 2018 which will transform Jungle Island’s property including the parking garage and add an additional 12,000 square feet of meeting space while leaving the botanical gardens undisturbed.
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Urban X Group Celebrates Grand Opening Of River Landing Shops & Residences On The Miami River
Urban X Group and the Toronto-based H&R Real Estate Investment Trust have officially celebrated the grand opening of River Landing Shops & Residences, located at 1400 NW River Drive along the Miami River. The announcement comes on the heels of the projects completion earlier this year where the first phase of retailers were allowed to open in May 2020.
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