Amalia Otet
Amalia Otet leads publishing and content for Yardi products, where she turns real estate data and market trends into stories that inform and inspire. Outside of work, Amalia strives to live beautifully - one green step at a time.
Sentai Penthouse $27M Sale Sets New Record for South Florida
One of the coveted penthouse residences atop Miami Beach’s famed Setai Resort has just set a new record for the most expensive condominium ever sold in South Florida. An anonymous buyer paid $27 million for the 7,100-square-foot residence. Jeff Miller of Zilbert International Realty was the broker involved in the deal; Miller also set the prior sales record at The Setai in December 2011, when he brokered the sale of another penthouse for $21.5 million.
Hines Taps Into Tampa Bay Market with 308-Unit Apt. Complex
International real estate firm Hines has recently started construction on its first St. Petersburg project, the 308-unit Azure Residences multifamily complex. Located within the Carillon Park master-planned community, Azure will include 308 luxury garden-style residences in seven three-story buildings and one four-story building with direct entry and detached parking garages.
Shorenstein Buys Exxon Mobil Building; Hilton Westchase Also Gets New Owners
The downtown Exxon Mobil building recently traded hands, with San Francisco-based Shorenstein Properties now being its new owner. Shorenstein purchased the property for Shorenstein Realty Investors Ten, L.P., a fund formed in 2010 with $1.23 billion in committed capital. Along with the sale, former owner Exxon Mobil Corporation also leased back the entire building into 2015, when it plans to relocate to its new 385-acre corporate campus currently under construction north of Houston.
Irongate Pays $98M for Kansas City Multifamily Portfolio
Pursuing its goal of increasing holdings throughout the country, Irongate Realty Partners, LLC has recently acquired three multifamily properties in Kansas City for $98.65 million. The Class A multifamily portfolio consists of 846 residential units and over 950,000 square feet, in three apartment communities.
Orlando University Center’s $33M Sale was 2012’s Second Largest Office Deal
Crocker Partners’ $33 million acquisition of the Orlando University Center office park in late December proved itself to be the second-largest office investment sale in Orlando for 2012. The acquired portfolio includes five suburban office buildings—totaling 386,512 square feet on 27.12 acres—at 3452, 3504 and 3505 Lake Lynda Blvd., and 11301 and 11315 Corporate Blvd., just west of the University of Central Florida in Orlando.
Crescent Ready to Kick-Start $67M Luxury Development in Buckhead
Following the purchase of a three-acre site within Cousins Properties’ Terminus development, Crescent Resources, LLC is now set to begin construction on the $67 million Circle Terminus community.
“This site has all the ingredients for a very successful luxury apartment community,” said Ben Collins, regional director for Crescent Resources.
Walmart Gets Final Approval for NW Miami-Dade Supercenter
Adding to the list of nearly 20 new or expanded stores planned in the next couple of years across South Florida, the Miami-Dade County Community Zoning Appeals Board green-lighted Walmart’s plans of building a Supercenter in Northwest Miami-Dade. Set at NW 32 Ave and 79 Street, the new retail center will activate a vacant site that has not been developed in over a decade.
UCF Starts Renting Units at the $55M NorthView Student Housing Project
With opening set for Fall 2013, UCF Housing and Residence Life is now taking applications to rent units in the $55 million NorthView student housing project. Currently under development just across McCulloch Rd. from the UCF campus and Bright House Networks Stadium, the apartments are being developed by Alan Ginsburg and designed by Orlando-based Cuhaci & Peterson Architects LLC and Finfrock.
CNL Affiliates Seek to Invest in Metro Atlanta Senior Housing
Two different branches of CNL Financial Group have shown interest in senior housing development in the Atlanta metro area. CNL Healthcare Trust plans on investing $21 million in the development of Dogwood Forest of Acworth, a senior housing community planned for Acworth, Ga., about 30 miles northwest of Atlanta.
Terranova/Acadia Pay Record $139M for Lincoln Road Retail Portfolio
In what seems to be Florida’s largest retail acquisition of 2012, Terranova Corporation and Acadia Realty Trust paid $139 million for a three-building portfolio on Lincoln Road in Miami Beach. This addition of 801, 826, and 719 Lincoln Road to the Terranova/Acadia portfolio makes them the largest pure retail owner on the street.