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Miami Real Estate News

Faena District in Miami Beach scores $140M refi

Posted:Mon, 21 May 2018 22:00:34 +0000

Len Blavatnik’s Access Industries secured a $140 million loan to refinance the Faena District in Miami Beach. Apollo Commercial Real Estate Finance is providing the floating-rate loan, according to the Commercial Observer. The financing is backed by the Faena Hotel Miami Beach, Casa Faena hotel, the Faena Hotel Residences, the Faena Forum, the Faena Bazaar and the retail and parking. JLL negotiated the refinance. Blavatnik and Argentine developer Alan Faena built the 1 million-square-foot mixed-use ... [more]

Palm Beach attorney accused of EB-5 fraud sells mixed-use property

Posted:Mon, 21 May 2018 21:32:44 +0000

A Palm Beach attorney who federal prosecutors allege was involved in $50 million EB-5 fraud scheme just sold a three-building mixed-use property in Palm Beach for about $4 million. Leslie Evans, a real estate attorney who is now facing federal fraud charges, sold the 5,576-square-foot residential and retail property at 249 Royal Poinciana Way, according to the Palm Beach Daily News. The buyer is a company affiliated with Palm Beach-based Armata Holdings Management Corp., a ... [more]

The Real Deal’s National Retail Market Report is live!

Posted:Mon, 21 May 2018 20:30:39 +0000

The giraffe mascot of Toys “R” Us, seen on this issue’s cover as a lanky giant laid low, made for a fitting visual for the company it represented — a colossus in its own right that earned the unfortunate distinction of being the third-largest retailer in history to file for bankruptcy. With the announcement in March that the company would close a whopping 800 stores, experts wondered what would fill the void left by its ... [more]

KA Real Estate buys development site near West Palm Beach

Posted:Mon, 21 May 2018 19:30:45 +0000

UPDATED May 21, 4:50 p.m.: An affiliate of Kayne Anderson Real Estate just paid $6.2 million for a 20-acre development site within the Vista Center business park near West Palm Beach, property records show. Plans are to build a senior housing facility with about 250 units. The site at 2810 Vista Parkway sits next to the Emerald Dunes golf club, within the Vista Center, a 500-acre master-planned, mixed-use development with over 3.3 million square feet ... [more]

Is Hialeah “the next big thing” for real estate investment in SoFla?

Posted:Mon, 21 May 2018 18:30:43 +0000

Hialeah is hot. The city has been experiencing a surge in real estate investment, bolstering its reputation as an industrial hub while also identifying it as a more welcoming place for multifamily and commercial construction following recent moves to encourage development. But investors drawn to cheaper land prices and those who may be looking to make a quick buck on a flip could find it difficult in this working-class city where rents remain low as ... [more]

After Hilton success, Blackstone makes $4.8B bid to buy LaSalle Hotel Properties

Posted:Mon, 21 May 2018 17:42:56 +0000

Blackstone Group outmaneuvered Pebblebrook Hotel Trust to buy luxury hotel owner LaSalle Hotel Properties with an all-cash bid of $4.8 billion, including debt. The agreement comes just three days after Blackstone sold its remaining shares in Hilton Hotels, making its investment in the company most profitable leveraged buyout in history at $14 billion. Blackstone agreed to buy LaSalle at $33.50 per share, or a premium of almost 35 percent above the company’s share price on ... [more]

Barneys owner Richard Perry picks up a Palm Beach home

Posted:Mon, 21 May 2018 16:30:11 +0000

The billionaire founder of Perry Capital and owner of Barneys New York just dropped $6.5 million on a home in Palm Beach. Property records show Richard Perry and his wife Lisa closed on the five-bedroom, 5,700-square-foot home ay 3 Via Los Incas, near the Breakers. Lisa Perry is a women’s fashion designer whose clothing is sold exclusively at Barneys. Richard Perry founded his New York hedge fund in 1988 and acquired a controlling interest in ... [more]

More homeowners think now is the best time to sell, but that doesn’t mean they’re listing homes

Posted:Mon, 21 May 2018 15:30:39 +0000

More homeowners think now is the perfect time to sell than they have in the past 26 years. But that positive sentiment has done nothing to boost listing inventory and alleviate the tight housing market. In early May, 39 percent of respondents in a survey conducted by the University of Michigan said conditions for selling a home were optimal because of favorable prices, Bloomberg News reported. That was the highest share of homeowners who had ... [more]

The number of women billionaires are growing faster than their male counterparts

Posted:Mon, 21 May 2018 14:30:56 +0000

Though men still make up the lion’s share of the global population of ultra-wealthy, an increasing number of women are joining their ranks. As of this year, 321 women responded to Wealth-X’s annual billionaire survey saying their holdings were over $1 billion–a 18 percent increased compared to the 2017 results. By comparison, the number of male billionaires increased by 14.5 percent, 0.4 percentage points lower than the 2017 survey. The total population of high-worth men ... [more]

Dania Beach Modern Orthodox Jewish day school gets loan from Bank of the Ozarks

Posted:Mon, 21 May 2018 13:45:54 +0000

A Modern Orthodox Jewish day school in Dania Beach just received a $6.75 million mortgage from one of area’s most active real estate lenders. Little Rock, Arkansas-based Bank of the Ozarks granted Brauser Maimonides Academy the mortgage on May 15, property records show. The private school at 5300 Southwest 40th Avenue has students ranging from early childhood to eighth grade. Multiple calls to the school were not immediately returned. The Sun Sentinel previously reported that the Jewish day school ... [more]

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