The Real Deal Miami

Posts Tagged ‘Miami’

  • Miami mixed-use site sells for $56M

    Coral Gables firm acquires Greenery Mall, Dadeland Square Offices
    July 29, 2014 10:30AM
    Dadeland Square Offices

    Dadeland Square Offices

    The Greenery Mall and Dadeland Square Offices in Miami’s Kendall neighborhood changed hands for $56 million, The Real Deal has learned.

    A company tied to Coral Gables-based COFE Properties acquired the 7700 North Kendall Drive complex in a transaction recorded last week, according to Miami-Dade County records. The company received a $42 million loan from JPMorgan Chase Bank for the purchase. The mortgage matures in August 2024. [more]

  • Consulting firm signals warning about Bay Link plan

    AECOM calls public-private funding into question
    July 09, 2014 05:15PM

    Consulting firm AECOM cautioned county commissioners about a potential Bay Link plan.

    Miami-Dade commissioners are putting their money on a mix of public and private capital to fund the potential revival of Bay Link, a passenger rail service that would connect Miami and Miami Beach.  [more]

    1 Comment
  • Real estate crowdfunding poised to take off in SoFla

    Miami firm EarlyShares forms exclusive partnership with
    July 07, 2014 09:45AM
    Richard Swerdlow

    Richard Swerdlow

    The partnership between New York-based Atlas Real Estate Partners and crowdfunding company Fundrise for a Wynwood mixed-use project could be duplicated throughout South Florida as crowdfunding becomes more prevalent in the real estate industry.

    Before crowdfunding, only a fraction of the nine million U.S. investors with a net worth of at least $1 million invested in private opportunities where they did not previously know someone involved in the deal, according to CEO Joanna Schwartz. EarlyShares is a Miami crowdfunding vehicle targeting such investors for real estate opportunities. Real estate is considered the fastest-growing segment for crowdfunding. [more]

  • Miami Worldcenter to create 33K jobs: developer

    Firm claims site will give rise to 14K permanent jobs
    July 03, 2014 02:58PM
    Rendering of Bloomingdale’s at the Mall at Miami Worldcenter

    Rendering of Bloomingdale’s at the Mall at Miami Worldcenter

    One of the largest mixed-use developments in the U.S., Miami’s multi-billion dollar Worldcenter development, is expected to create thousands of jobs in South Florida. [more]

  • Miami condo development site trades for $15M

    Seller planned to build mixed-use Kubik project before last decade's crash
    July 01, 2014 11:15AM
    Kubik rendering

    Kubik rendering

    The former Kubik development site in Miami’s Upper Eastside neighborhood changed hands for $15 million, The Real Deal has learned.

    Kubik LLC of Key Biscayne sold about 2.3 vacant acres on Biscayne Boulevard between Northeast 56th and 57th streets in a transaction recorded on Monday, according to county records. The company had approvals to build a mixed-use project with nearly 300 residences before last decade’s market crash. The site remains undeveloped. [more]

  • Cost of Healthcare Trust’s latest Miami purchase revealed

    REIT spent $28M on three medical office buildings
    June 27, 2014 12:45PM
    6280 Sunset Drive

    6280 Sunset Drive

    Healthcare Trust of America paid a combined $28 million for three medical office buildings in Miami as part of a larger portfolio acquisition.

    Miami-Dade County recorded the Scottsdale, Ariz.-based real estate investment trust’s Miami purchases last week. The company paid $15.7 million for properties at 7867 and 7887 Kendall Drive and $12.2 million for a building at 6280 Sunset Drive. No financing was recorded. [more]

  • Plaza Del Rey fetches $11.6M

    Miami shopping center sold to local investor
    June 04, 2014 12:45PM
    Plaza Del Rey

    Plaza Del Rey

    The Plaza Del Rey shopping center in Miami changed hands for $11.6 million, The Real Deal has learned.

    PDR Holdings of Miami sold the 10000 West Flagler Street center last week, according to Miami-Dade County records. The company is managed by Martin Pico. It paid about $10.8 million for the nearly 52,000-square-foot center in March 2006. [more]

  • Joint venture plans Medley industrial building

    Seven acres with Florida Turnpike frontage acquired for undisclosed price
    May 05, 2014 04:30PM

    Pan American North Business Park in Medley

    A joint venture between Lincoln Property Company Southeast and Crow Holding Capital Partners picked up seven acres within the Pan American North Business Park.

    The Medley site, which the joint venture acquired from Abisinia Enterprises Inc. for an undisclosed amount, is expected to developed for storage, distribution or light manufacturing, according to The partnership plans to develop a front-load, shallow-bay industrial building. The property is expected to begin leasing in the spring of 2015. [more]

  • Miami hospital part of $47M transaction

    Tampa company acquires seven-property site, inks 15-year lease with operator
    May 05, 2014 10:30AM
    Metropolitan Hospital of Miami

    Metropolitan Hospital of Miami

    The Metropolitan Hospital of Miami was part of a $47 million sale of seven properties, The Real Deal has learned.

    Metropolitan Health Community Services Corp. sold the 5959 Northwest Seventh Street hospital on Wednesday, according to Miami-Dade County records. The transaction also included one office building, four residential properties and a vacant commercial parcel. Miami-Dade County recorded the sale on Friday. [more]

  • Miami is No. 2 in foreign buyers’ searches: report

    Orlando and Ft. Lauderdale also in the top five
    April 22, 2014 05:15PM

    Orlando skyline

    Miami was the second-most searched-for housing market in the U.S. among international buyers in February, according to monthly data from the National Association of Realtors.

    Orlando, No. 4, and Fort Lauderdale, No. 5, also cracked the list. Florida was represented in the top 10 more than any other state. Los Angeles, however, landed at the top of the chart. [more]