The Real Deal Miami

Posts Tagged ‘Miami’

  • Former Miami office condo building trades for $13M

    Company tied to Netz USA acquires Coral Way property, gets $9.5M loan
    August 25, 2014 11:15AM
    2103 Coral Way

    2103 Coral Way

    A terminated office condo building in Miami changed hands for $13 million.

    Netz Coral Way acquired the 67,600 square foot building at 2103 Coral Way in a transaction recorded on Friday, according to Miami-Dade County records. The company is tied to Menachem Gurevitch’s New Haven, Conn.-based Netz U.S.A. Its parent company, Netz Group, is publicly traded on the Tel Aviv Stock Exchange.

    City National Bank of Florida gave Netz a $9.5 million loan for the purchase. [more]

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  • Two plead guilty in Miami-based condo fraud case

    Four others accused in scheme will go on trial starting on Sept. 8
    August 19, 2014 11:15AM

    Gavel-new315-304The perpetrators of a Miami-based condo fraud scheme entered guilty pleas and await federal prison sentences.

    Developer Luis Michael Mendez, 44, and Kinetic Mortgage Group owner Wilkie Perez, 39, each pleaded guilty to conspiracy to commit bank fraud and wire fraud. Mendez admitted to selling units in family-controlled developments to straw buyers. Perez copped to submitting false loan information about buyers in exchange for payments from Mendez. [more]

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  • “Magic City” portfolio trades for $15M

    Little Haiti site includes historic building, trailer park
    August 07, 2014 12:00PM
    6041 Northeast Second Avenue

    6041 Northeast Second Avenue

    A five-property portfolio in the historic Lemon City district within Miami’s Little Haiti changed hands for $15 million.

    The transaction included the 6.5-acre Magic City Trailer Park at 6001 Northeast Second Avenue and a mixed-use building at 6041 Northeast Second Avenue that dates back to 1902, according to Miami-Dade County records. Miami-based Magic City Properties LC is the seller. The county recorded the deal on Wednesday. [more]

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  • Extreme Aviation Services signs Miami industrial lease

    Company grabs 60,000 square feet at World Distribution Center
    August 01, 2014 11:15AM
    World Distribution Center

    World Distribution Center

    Extreme Aviation Services signed a lease to occupy 60,000 square feet in Miami’s World Distribution Center.

    The privately owned company and landlord Peter Lawrence Cos. agreed to a deal for the facility at 2930 Northwest 75th Avenue, according to Thursday’s written statement from brokerage The Casal Group, which arranged the transaction. Extreme Aviation is headquartered in Venezuela. It operates a Federal Aviation Administration Repair Station in Doral. [more]

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  • Miami brokerage teams up with St. Louis firm

    Sansone Group seeks more South Florida opportunities through Robinson venture
    July 30, 2014 10:30AM
    Walter Robinson and Jim Sansone

    Walter Robinson and Jim Sansone

    Hoping to gain market share in South Florida, a St. Louis-based commercial real estate firm formed an alliance with Robinson Commercial Real Estate Services of Miami.

    Sansone Group and Robinson launched a new entity called Robinson-Sansone Brokerage Services. The joint venture plans to focus on office and industrial leasing and property management opportunities. Walter Robinson’s firm works with investors and has leased out developments totaling more than 800,000 square feet. [more]

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  • 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]

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  • Consulting firm signals warning about Bay Link plan

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

    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]

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  • Real estate crowdfunding poised to take off in SoFla

    Miami firm EarlyShares forms exclusive partnership with Property.com
    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 EarlyShares.com 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]

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  • 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]

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  • 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]

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