Miami
Starwood Eyes Historic Motel Ankara in South Beach for Adaptive Reuse
Set to open in less than a year, Starwood Hotels & Resorts Worldwide Inc.’s newest Aloft branded facility is coming to Miami’s South Beach and will be first newly constructed hotel to open in that submarket in the past five years.
Le Parc at Brickell Condo Developers Close on $19M Loan
A joint venture between ALTA Developers and Strategic Properties Group broke ground just last month on Le Parc at Brickell, a 12-story, 128-unit luxury condominium going up in Miami’s upscale Brickell Financial District at 1600 SW 1st Avenue. The companies have released a publication recently, announcing the closing of a $19 million construction loan from Banco de Crédito e Inversiones Miami Branch.
HSBC-Led Group Lends $332M for Bal Harbour Luxury Residential Tower
Consultatio Real Estate has received a $332 million loan from a consortium of banks led by HSBC to develop Oceana Bal Harbour, a planned 240-unit luxury residential development in Miami’s Bal Harbour village.
Blanca Commercial Real Estate to Broker Leases at Douglas Entrance Office Park
Just over a month after Banyan Street Capital and Oaktree Capital Management LP paid $100.75 million to Pearlmark Real Estate for Douglas Entrance, the joint venture selected Blanca Commercial Real Estate as exclusive leasing agent for the 467,325 square foot, five-building landmark office campus at 800 S. Douglas Rd. in Coral Gables.
Vista Pointe Apartments in Palm Springs Sold
The Vista Pointe community at 555 Kirk Road in Palm Springs has recently changed hands for $18.11 million with the involvement of CBRE, representing the seller, Riverfront Capital in the transaction. Avesta Real Estate Fund I, LLC is the new owner of the 314-unit apartment community.
Swire Hotels to Debut in U.S. at $1.5B M-U Development in Downtown Miami
Hong Kong-based Swire Hotels will make its entrée into the U.S. with the opening of EAST, Miami at Brickell City Centre.
SMG/Shamrock, W Capital Group Grab Former Golden Sands Development Site in Miami Beach
A joint venture between SMG/Shamrock and W Capital Group has acquired a vacant lot at 6901 Collins Ave. in Miami Beach from a subsidiary of Lehman Bros.
Golden Sands Oceanfront Development Site in Miami Beach Sold
CBRE Hotels has recently announced the sale of the former Golden Sands development site.
Krystal Logistics Relocates, Staying Loyal to Flagler Station
Krystal Logistics has outgrown its current facility at 10301 NW 108th Avenue in Flagler Station and plans to move to a 78,000 square-foot distribution facility, up from 46,000 square feet, by the end of the year. The new lease is also part of Flagler Station, at Building 36, which has yet to be built.
Trophy Bayfront Miami Beach Multifamily Site Has New Owner
The Boca Raton office of ARA announced the sale of a 1.1-acre waterfront development site at 6800 Indian Creek Drive in Miami Beach. The company spoke for the seller, Miami-based Windsor Capital, in the transaction.