The Real Deal Miami

  • Rockpoint Group pays $155M for 1221 Brickell office tower

    Blackstone Group's Equity One, as well as LaSalle Investment Management sold the tower
    April 26, 2017 08:45AM By Ina Cordle

    1221 Brickell

    UPDATED April 26, 3:40 p.m. Rockpoint Group just paid $155 million for 1221 Brickell, a 27-story office tower in Miami’s financial district, a newly recorded deed shows. [more]

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  • Cinemex opens its first US theater at Brickell City Centre

    Mexico City-based chain spent more than $15M on Brickell location
    April 25, 2017 06:15PM By Katherine Kallergis

    CMX at Brickell City Centre

    Cinemex opened its first luxury movie theater in the United States at Brickell City Centre on Friday.  [more]

  • LB Construction wins bid for partially built H3 Hollywood

    The general contractor expects to finish the building for investors taking over the H3 project
    April 25, 2017 06:00PM By Mike Seemuth

    Renderings of H3 Hollywood

    UPDATED April 26, 12: 20 p.m.: LB Construction of South Florida, the general contractor of H3 Hollywood, submitted the winning bid for the project’s assets at a foreclosure auction on Tuesday. LB submitted the bid on behalf of an investor group that will take title to the H3 development and plans to finish building it. [more]

  • Inside

  • Related sells Pembroke Pines rentals to Rockpoint for $87M

    Deal breaks down to about $244,000 per apartment
    April 25, 2017 04:10PM By Katherine Kallergis

    Town at Pembroke Pines. Inset: Steve Patterson, president/CEO of Related Development

    The Related Group just sold a multifamily complex in Pembroke Pines to the Rockpoint Group for $87 million.  [more]

  • Retail landlords facing pressure to create destinations: panel

    Wynwood Arcade aims to be a place for people to congregate, adding value to shopping
    April 25, 2017 03:00PM By Francisco Alvarado

    From left, Ilene Katz Kobert, Bill Fuller, Jessica Goldman Srebnick, Rob Tubajon, Debora Overholt and Jonathon Yormak

    As retail real estate hits the doldrums, landlords and property owners need to focus on nurturing vibrant commercial districts with tenants that provide more than the typical shopping experience like in Wynwood and Brickell City Centre, according to a panel of prominent real estate professionals.

    “Moderate and mediocre is not going to cut it,” said Jessica Goldman Srebnick, CEO of Goldman Properties, one of the largest Wynwood landowners. “It is a really about future casting what the customer wants and trying to create experiences that tailor to that.” [more]

  • Russell Galbut wants to redevelop Miami-Dade courthouse in exchange for $1.8B over 99-year lease

    Crescent Heights would build a new, 35-story courthouse across the street
    April 25, 2017 02:15PM

    Renderings of Dade County Courthouse (Credit: Kobi Karp)

    Developer Russell Galbut made an unsolicited offer to build Miami-Dade a new, $300 million courthouse in exchange for a 99-year lease and the right to redevelop the existing courthouse.  [more]

  • Harbor Group pays $158.5M for multifamily complex in Pembroke Pines

    Sale of 700-unit project marks year's biggest multifamily deal in South Florida
    April 25, 2017 01:30PM By Ina Cordle

    Montage at City Center and from left, Robert Given, Zachary Sackley and Troy Ballard

    An affiliate of Harbor Group International just paid $158.5 million for Montage at City Center in Pembroke Pines, marking South Florida’s biggest multifamily deal of the year. [more]

  • Rising US home prices fuel concerns about unsustainable market

    Prices have gone up twice as fast as incomes: report
    April 25, 2017 12:35PM

    U.S. National Home Price NSA Index (Credit: S&P CoreLogic Case-Shiller)

    From TRD New York: Home prices across the country are rising much faster than incomes, sparking concerns from economists and brokers that the market may overheat. [more]

  • The week in luxury: A map of Miami-Dade’s priciest condo sales

    Closing prices in the top 10 deals ranged from $875k to $5.5M
    April 25, 2017 11:45AM By Katherine Kallergis
    map Mansions at Acqualina unit 1602 and a map of Miami-Dade’s priciest condo sales last week

    Condo sales in Miami-Dade experienced a bump in volume last week. The priciest deal was the $5.5 million sale of a unit at the Mansions at Acqualina in Sunny Isles Beach. [more]