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Miami Real Estate News

Deutsche Bank identified ‘suspicious transactions’ related to Kushner Cos. accounts: report

Posted:Sun, 21 Jan 2018 21:00:26 +0000

From TRD NYC: A prominent German business magazine is reporting that Deutsche Bank identified “suspicious transactions” related to Kushner Companies and reported them to banking regulators in Germany. According to the translation of the Manager Magazin report in Mother Jones, Deutsche Bank is willing to hand over that information to Special Counsel Robert Mueller, whose team is reportedly investigating the finances and business dealings of Jared Kushner, former CEO of the firm. “Achleitner’s internal detectives ... [more]

Dalfen America pays $28.8M for Central Florida industrial portfolio

Posted:Sun, 21 Jan 2018 20:00:41 +0000

Dalfen America Corp. bought a portfolio of four industrial buildings in Central Florida for $28.8 million. Parkway Partners sold the 426,000-square-foot industrial portfolio, including three buildings in Lakeland and one in Winter Haven, for $67 per square foot. Brokerage firm JLL, which represented the seller in the transaction, said the price paid for the portfolio equated to a 5.6 percent capitalization rate, or net operating income divided by sale price. The three industrial buildings in ... [more]

These “zero energy” houses come with a solar-panel rooftop and a Tesla

Posted:Sun, 21 Jan 2018 19:00:21 +0000

A developer won final approval to build 86 Bradenton-area houses designed to generate as much solar power as they use, or more, and furnished with a Tesla electric car. Manatee County commissioners approved plans by Pearl Homes to build the so-called “zero energy” houses with solar-panel rooftops and battery storage units at the company’s Hunters Point Resort & Marina. The development in Cortez, a peninsular village just east of the Bradenton Beach barrier island, will ... [more]

Downtown St. Petersburg apartment building commands $127M

Posted:Sun, 21 Jan 2018 18:00:42 +0000

Camden Property Trust paid $127 million for a new 358-unit apartment building in the downtown area of St. Petersburg. Camden, a Houston-based real estate investment trust (REIT), paid $354,748 per unit for the 18-story building formerly known as AER Luxury Apartments. The apartment building, renamed Camden Pier District, was built in 2016, and includes retail space and a five-story parking garage. The building, which is still in its lease-up phase, is expected to produce a ... [more]

Jacksonville will solicit proposals to develop a downtown convention center

Posted:Sun, 21 Jan 2018 17:00:22 +0000

A municipal agency in Jacksonville will issue a request for proposals to develop a convention center and hotel on the city’s downtown riverfront. The Downtown Investment Authority voted unanimously to ask private developers for proposed designs and financing arrangements for a convention center and hotel on city-owned riverfront land. The land along the St. John’s River is the downtown location of two vacant buildings, Jacksonville’s former city hall and Duval County’s former courthouse, which are ... [more]

TH Real Estate buys into industrial development in Tampa

Posted:Sun, 21 Jan 2018 16:00:38 +0000

An arm of investment giant Teachers Insurance & Annuity Association of America (TIAA) bought a majority interest in an industrial property development in East Tampa. TH Real Estate, an affiliate of TIAA that owns industrial properties valued at more than $10 billion, paid an undisclosed price for a 95 percent interest in the four-building, 863,000-square-foot development in East Tampa, a district within the city of Tampa. The four buildings are scheduled to be completed in ... [more]

Firm raises $300M to finance condo purchases by foreign nationals

Posted:Sun, 21 Jan 2018 15:00:29 +0000

A South Florida-based joint venture called PYT Lending has raised a $300 million fund to finance condo purchases by foreign nationals and other investors. For example, PYT has started closing mortgage loans to finance investors under contract to buy about 20 percent of the units at the Echo Brickell condominium development in Miami, a 180-unit project that developer Property Markets Group and JDS Development Group completed in November. “We are well aware of the challenges ... [more]

Court rules that insurers must treat notice of claim for construction defects as a “suit”

Posted:Sun, 21 Jan 2018 14:00:47 +0000

The Florida Supreme Court ruled that filing notice of a claim for a construction defect is equivalent to a filing a “suit” that a general liability insurer may have to defend. The ruling came in response to a question about the state’s procedural requirements before filing a court claim for a construction defect. The case centered on the Sapphire Condominium, a high-rise condo in Fort Lauderdale on North Ocean Boulevard. In 2012, Altman Contractors Inc., ... [more]

Guess where the priciest place to live is

Posted:Sat, 20 Jan 2018 22:00:09 +0000

From TRD NYC: When U.S. property is ranked according to price by zip code, California dominates the top 100 most expensive areas to live. The state is home to 77 of the priciest places to live according to the Los Angeles Times, with New York coming in second with a measly 19 out of 100. The data, analyzed by Property Shark, determine the ranking based on residential deals last year, which includes all types of ... [more]

Town resists 94-house development plan in Loxahatchee Groves

Posted:Sat, 20 Jan 2018 21:00:30 +0000

Members of the town council and residents of Loxahatchee Groves in central Palm Beach County are resisting a plan to build 94 houses there. The planned development would put the houses at a 47-acre site on the southeast corner of the intersection of C Road and Collecting Canal Road. Joe Lelonek of Atlantic Land Development represented the owners of four parcels comprising the 47-acre site during a preliminary public presentation of the planned development, called Loxahatchee Farms ... [more]

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