Weekly Construction & Real Estate News Round-Up 12/28

1. Santander Bank and Fifth Third Bank have issued an $89 million for the first tower at Miami Worldcenter’s Seventh Street Apartments. The first phase of the project includes 444 units in a 43-story tower and a second tower is planned with 413 units.
2. Gil Dezer won court approval for the $28.5 million purchase of a Hillsboro Beach development site, which is being sold out of bankruptcy by embattled home builder John Kennelly.
3. Swedish firm Contentus AB has purchased Related Group’s newly built Davie apartments for $59M.
4. Nightingale has paid $80M to purchase Miami Beach’s Lincoln Place office building which is fully leased to LNR Partners until 2021.
5. Lennar has completed the purchase of another development site at American Dream Miami for $51M to add to their adjacent lot immediately south which they paid $41M for in January. Their total invested in the assemblage is now $96 million.