🏆 Commercial: Weston logged the priciest commercial sale to hit records in South Florida, with the sale of a two-story office property at 2690 Weston Road for $7.4 million. The seller of the 18,300-square-foot building was Bedner Farm, and the buyer was Loewe Company LLC. The deal breaks down to roughly $400 per square foot. The building last sold 25 years ago, for $3.8 million.
🏆 Residential: The top recorded home was in Palm Beach Shores, where a waterfront home at 206 Lake Drive changed hands for $6.6 million or $3,900 per square foot. The seller was a trust tied to John Collins, and the buyer was an LLC managed by Byron and Laura Russell. The 1,700-square-foot home has three bedrooms and three bathrooms. The sale price was about half of the $12 million it was listed for roughly a year ago. Kevin Spina with The Keyes Company represented both sides of the transaction.
📊 Residential: In Palm Beach, a 3,100-square-foot home at 260 El Dorado Lane sold for $6.2 million. The seller was a trust tied to Kendall Pickett, and the buyer was an LLC linked to businessman and real estate investor Steven L. Apple. Built in 1960, the property has four bedrooms and three and a half bathrooms. The deal works out to about $2,000 per square foot.
By the Numbers: National banks, private debt funds seize more CRE debt as lending interest rebounds
There’s been a shift in commercial real estate lending over the past year.
National banks, previously hampered by troubled loans, upped their lending to recapture more market share in 2025, as have private debt funds, which have upped their lending in stronger market conditions. Meanwhile, government agencies and CMBS lenders, typically the top providers of CRE financing, are pulling back.
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