Heir to Merck pharma fortune sells Palm Beach estate, Brookdale buys back Sawgrass Park portfolio for $80M: Daily digest

Miami /
Oct.October 23, 2019 06:00 PM

Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to [email protected]

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1197 North Lake Way Drive

1197 North Lake Way Drive

An heir to the Merck pharmaceutical fortune sold a Palm Beach estate for $17 million. George F. and Adele Merck sold their 9,878-square-foot home at 1197 North Lake Way Drive for a 37 percent discount off the original asking price from 2016. [TRD]

 

Brookdale buys back Sawgrass Park portfolio for $80M. Brookdale Group paid $80.27 million for four office buildings at a business park in Sunrise, about four years after it sold the portfolio to M-M Properties. M-M Properties sold the nearly 349,000-square-foot portfolio at Sawgrass International Corporate Park to Brookdale for about $230 per square foot. [TRD]

 
Bluffs Square in Jupiter (Credit: Google Maps)

Bluffs Square in Jupiter (Credit: Google Maps)

Equity One sells Jupiter shopping center to Sterling for $26M. A company tied to Sterling Organization paid $25.9 million for a Publix-anchored shopping center in Jupiter.
Records show Equity One Florida Portfolio LLC sold the nearly 136,000-square-foot retail plaza at 4040 South U.S. Highway 1. Equity One is a subsidiary of Jacksonville-based Regency Centers. Regency Centers acquired the company for $5 billion in 2017. [TRD]

 

Pebb Capital pays $40M for once-named Midtown Delray site. Pebb Capital closed on nearly 7 acres of land to build a project formerly known as Midtown Delray, months after the purchase was delayed due to a legal dispute. [TRD]

 

CoStar CEO Andy Florance (Credit: Getty Images, iStock)

CoStar Group settles copyright infringement Xceligent. The commercial real estate data conglomerate reached a $10.75 million settlement with its competitor’s insurer, according to court filings. That’s a fraction of the $450 million CoStar initially sought. [TRD]

 

Home sales dip in September. Sales of previously owned U.S. homes dropped 2.2% in September from the previous month to a seasonally adjusted annual rate of 5.38 million, the National Association of Realtors said Tuesday, according to the Wall Street Journal. [WSJ]

 

Rosen Equities picks up West Palm Beach apartments for $6M. Rosen Equities Group purchased a 39-unit West Palm Beach apartment complex for $6.1 million. The Brooklyn-based real estate investment firm purchased The Charmer Apartments & Villas at 345 30th Street in the Northwood neighborhood for $156,410 per unit, records show. [TRD]

 

Compiled by Ketih Larsen


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