New Venture Bringing $1B+ in Multifamily Projects to FL
Miami-based Leste Group and Opportunity Fundo de Investimento Imobiliário,
Space Availability in Large Industrial Properties Continues To Rise in South Florida
The slump in industrial leasing continues into 2024, with all South Florida markets seeing slight upticks in vacancy and slowing rent gains. Annual leasing activity has dropped between roughly 20% and 35% below levels achieved during the peak of the pandemic, and except for Fort Lauderdale, leasing activity also remains depressed relative to pre-pandemic average […]
Former Dog Racing Facility Becomes Needed Housing
After Floridians banned greyhound racing in 2020, a former greyhound kennel and dog racing facility sat empty, occupying an expansive 28 acres in a growing and increasingly land-strapped Miami-Dade municipality. Now, the property is home to needed housing and new, high-end apartments in the rapidly changing city of Hialeah, Florida. Developed in partnership by Related […]
New Development in Downtown Delray Beach Becomes Headquarters Magnet
Digital Infrastructure Investment Firm To Relocate to Pebb Capital’s Mixed-Use Campus Delray Beach, one of the quieter South Florida coastal areas situated between Fort Lauderdale and West Palm Beach, is about to become home to one of the top digital infrastructure investment firms in the country. Publicly traded DigitalBridge is moving from its current office […]
City Block of Buildings Sells in Fort Lauderdale
Buyer Plans 250-Apartment Redevelopment of Portfolio A private developer acquired seven properties on 2.66 acres, known as the Hill York Property in Fort Lauderdale, for $15.2 million. The properties comprise a whole city block. The buyer’s intent is to redevelop the land into 250 multifamily apartments on the sit,e which includes three hundred feet of frontage on […]
New Venture Bringing $1B+ in Multifamily Projects to FL
Miami-based Leste Group and Opportunity Fundo de Investimento Imobiliário, based in Rio de Janeiro, have formed LORE Development Group. The new venture will develop primarily multifamily communities in South Florida. LORE will source and acquire properties, and work with third-party construction teams, wth plans to develop more than $1 billion in multifamily projects over the […]
MG Developer Secures $67.5M Loan to Build The Village at Coral Gables
MG Developer has secured a $67.5 million construction loan from Churchill Real Estate to build the highly anticipated Village at Coral Gables development. Groundbreaking expected in July. The Village at Coral Gables is a 48-residence collection of townhome, loft, villa, and flat options. It’s located at 535 Santander Avenue in Coral Gables. The project will […]
Berkadia Secures $52M Bridge Loan for Pier 19 Residences in Miami
Berkadia has secured a $52 million bridge loan to refinance Pier 19 Residences & Marina, a 199-unit luxury apartment community along the Miami River in downtown Miami. Located at 1951 NW S River Drive, Pier 19 Residences & Marina was originally built in 2011 as condominiums. The borrower, Neology Life Development Group, purchased the 21-story […]
National Land Realty Merges With Crosby & Associates
Greenville, S.C.-based real estate land brokerage company National Land Realty, and Winter Haven, FL.-based Crosby & Associates | Agriculture and Commercial, have agreed to a merger of the two firms. National Land Realty specializes in farm, ranch, plantation, timber, recreational, and commercial development properties, while the Crosby team brings their expertise in agriculture and commercial […]
Value Snapshot: Valbridge’s Burton Lee, MAI on the Company’s New Online AVM Technology Platform
By Paul Bubny On Oct. 28, Valbridge will introduce an online automated valuation service branded as Valnow. This AVM generates a value snapshot for a single commercial property or an entire portfolio. Connect Commercial Real Estate spoke with Valnow creator Burton Lee, MAI for a behind-the-scenes preview. Q: To begin, what is Valnow and how […]