For the third time in five months, another condo project developed by the Related Group is facing accusations of shoddy construction work likely to cost millions to repair. [more]
Posts Tagged ‘related group’
Related Group, Shoma Group and PGIM Real Estate Investors have just secured $74 million worth of long-term debt for the first multifamily piece of their massive CityPlace Doral project. [more]
The Related Group celebrated the opening of the sales center for Auberge Residences & Spa recently. … [more]
Jorge M. Perez, chairman and CEO of Miami-based Related Group, is getting a good reception for a condo project in his hometown: Buenos Aires, Argentina.
Related Group and hospitality company sbe have presold more than half the units in their joint development of a condominium in Buenos Aires called SLS LUX Puerto Madero.
The two-tower development in the Argentine capital city’s upscale Puerto Madero [more]
The co-founder of the multibillion-dollar consumer products company Jarden has purchased a unit at One Ocean, a newly completed condominium in the South-of-Fifth neighborhood of Miami Beach. [more]
Newgard Development Group, Metro 1 and the Related Group are all names heavily affiliated with some of Miami’s hottest neighborhoods. But the trio have something else in common: they all have a soft spot for Broward County and are spearheading a new wave of development and investment there.
Harvey Hernandez of Newgard, Jaime Sturgis of Metro 1, Patrick Campbell of Related and their colleague Jean Francois Roy of Ocean Land Investments all weighed in on why Broward County is a hot market to be in right now during The Real Deal’s Broward Real Estate Showcase & Forum last month.
The Related Group has cranked out more luxury condo buildings this cycle than any other developer, and when a company like that starts paying attention to lesser-developed neighborhoods, the competition takes note. Related is in the midst of building several residential projects in Fort Lauderdale and is testing out the market to see what kind of demand the city can muster.
Patrick Campbell, the firm’s vice president, sat down with The Real Deal South Florida’s Managing Editor Ina Cordle to talk about Related’s views on Fort Lauderdale, and what the company’s plans are for its future there.
The developers of the Marina Palms Yacht Club & Residences opened the marina portion of the project in North Miami Beach.
The Marina Palms Yacht Club at Biscayne Boulevard and 172 Street has 112 wet slips for vessels 40 feet to 100 feet long.
“Premium dock space is very hard to find in South Florida. There hasn’t been a new marina like this built in over 20 years,” Jim Bronstien of US Marinas, the manager of the newly built marina, told the Miami Herald in a prepared statement.
The new marina is located in Maule Lake along the Intracoastal Waterway, a 15-minute boat ride from the Atlantic Ocean. [more]
There’s major trouble brewing over dozens of alleged construction defects at the Trump Towers I, II, and III in Sunny Isles Beach.
In three separate lawsuits filed in Miami-Dade Circuit Court last week, the master condo association for the three buildings alleges that garages, facades and pool decks need extensive and expensive repairs due to shoddy work by the developers, The Related Group and Dezer Development. [more]
From the April issue: Amid an oversupply of new condominiums and an abundance of cranes scattered across Miami’s skyline, big banks are becoming more selective about which projects they will provide construction financing for, while some developers are choosing alternative lenders in the absence of traditional financing.
Still, there is plenty of capital for the right project. The Real Deal looked at the biggest construction loans in South Florida from January 2015 to February 2016, as documented in public records. The 10 largest were all in Miami-Dade County. [more]