Black Lion Investment Group Acquires Bayfront Amara at Paraiso Property For $12.1 Million From Related Group

The Los Angeles-based Black Lion Investment Group has acquired the trophy waterfront restaurant building Amara at Paraiso, located at 3101 NE 7th Ave., from Related Group. The deal was overseen by Fabio Faerman and Sebastian Faerman of FA Commercial with Fortune International Group, who represented both Black Lion and Related Group in the transaction. Amara at Paraiso is a 12,300 SF commercial property and is one of the only free-standing restaurants in Miami located directly on Biscayne Bay. James Beard Award winning chef Michael Schwartz’s Genuine Hospitality operates the popular indoor-outdoor dining space.

“We are thrilled to be a part of the vibrant retail and fine dining experiences that are making Miami the go-to destination in a post COVID-19 world. We believe this is the first step in a multi-faceted approach to creating new experiences within the Miami community,” said Robert Rivani, President of Black Lion Investment Group.

The unique Class A experiential retail and dining facility was built by Related Group as part of the 11-acre Paraiso District, which the development firm delivered in 2018. The Paraiso District consists of the 384-unit Paraiso Bayviews, the 357-unit Paraiso Bay, the 317-unit Gran Paraiso, the 276-unit One Paraiso, and seven standalone townhomes at Paraiso Bay Homes.

Black Lion Investment Group’s portfolio of properties in Florida includes the recently renovated Crystal Cove Commons and Brickell Bay Boardwalk. The Los Angeles-based firm recently acquired the Tucson luxury retail center Oracle Wetmore for $38 million.

Imagery via Genuine Hospitality Group

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The Collection Breaks Ground On Jaguar Land Rover Dealership Expansion In Coral Gables

Ugo Colombo and Ken Gorin are expanding THE COLLECTION with the addition of a new Jaguar Land Rover dealership at the intersection of U.S. 1 and Ponce de Leon Blvd. in Coral Gables. The luxury car dealership broke ground on the new building after locking down a $64.5 million construction loan financed by JPMorgan Chase Bank. Burke Construction Group is the general contractor on the project.

The new Jaguar Land Rover dealership will be located on a 1.68-acre site at 125-163 S. Dixie Highway and will span nearly 500,000 SF of total development with room for over 800 cars when complete. The dealership will feature a 60,935 SF showroom and a 40,728 SF service station along with a car wash.

Miami is one of the largest markets for luxury vehicles in the United States and THE COLLECTION is consistently one of the top ranked luxury dealerships in the country.

PROFILEmiami And Master Brokers Forum (MBF) Launch Partnership For Cross-Promotional Collaboration

The Miami Master Brokers Forum (MBF), a home-grown network of the area’s elite real estate professionals, and PROFILEmiami, a leader in South Florida residential and commercial real estate news, events and content, have launched a unique cross-promotional collaboration designed to raise awareness and business development opportunities for the two organizations.

Under the agreement, select MBF member listings will be branded and showcased on PROFILEmiami’s web site, weekly newsletter, and social media platforms, while individual members will also be featured and profiled on a monthly basis. Master Brokers will also receive generous discounts on PROFILEmiami’s advertising products and services, special invitations to events, and the two organizations will be presented as sponsors at each other’s events and gatherings.

“There is clearly shared DNA between our two organizations, and we are excited to enter into this innovative agreement,” said Iliana Abella, Miami Master Brokers Forum chair. “Our driving motivation is to always deliver leading-edge value to our members, and we see an enormous opportunity to supercharge the promotion and reach of their listings across PROFILEmiami’s extraordinarily successful platforms.”

“We launched our platform in 2016 with the goal of creating a one-stop destination for South Florida real estate news, events and content, and this ‘win-win’ collaboration with the highly respected MBF is a strong extension of that objective,” said Demetri Damacus, founder of PROFILEmiami. “By showcasing these Master Broker listings, our readers will preview some of the finest properties in South Florida’s competitive luxury residential sector, and also meet some of the top producers in their market.”

Cardone Capital Acquires The Harbour Centre at Aventura Office Complex For $93 Million

Cardone Capital, led by 10X founder Grant Cardone, has acquired the Harbour Centre at Aventura office complex for $93 million. The property will be renamed The 10X Center. Harbour Centre at Aventura spans 217,056 SF and was 90% leased at the time of sale with tenants including UBS and IberiaBank. The transaction was financed with a $65 million loan provided by City National Bank of Florida. The seller was the Texas-based C-III Capital Partners, who acquired the property in 2014 for $61 million. The office complex was developed in 2003 and is located at 18851 NE 29th Ave. in Aventura, next door to Cardone’s 10X Headquarters. Cardone plans to combine the two buildings into an urban campus with a residential component.

Grant Cardone is an internationally-renowned motivational speaker and real estate investor. Cardone is the author of the “10X Rule” and founder of the 10X Movement. Cardone Capital has raised over $500 million through crowdfunding and recently acquired Camino Real Apartments in Boca Raton for $69 million and Port Royale Apartments in Fort Lauderdale for $130 million. Cardone also recently purchased Tommy Hilfiger’s Golden Beach oceanfront estate for roughly $28 million.

Inside The Continuum's South Beach Wine And Food Festival's 20th Anniversary Michelin Star-Honoree Led Dinner

Continuum, one of South Florida’s premier resort-style oceanfront condominium residences, participated in its second year for the 20th Anniversary of the Food Network & Cooking Channel South Beach Wine & Food Festival presented by Capital One (SOBEWFF®), with a sophisticated evening of regional Italian cuisine on Friday, May 21st.

James Beard Award Winner and Michelin Star honoree Chef Michael White, joined forces with Chef Claudio Lobina from The Patio restaurant at the Continuum in Miami Beach, to present a refined three-course menu for guests, co-hosted by husband-and-wife restaurant proprietors Michele Merlo and Tullia Gasparotto. Residents and guests experienced a memorable evening under the stars, within the heart of the luxury beachfront residences, as part of the official Intimate Dinner Series during this year’s 20-Year anniversary of the festival.

“Our second year of participation during this year’s South Beach Wine & Food Festival proved equally remarkable as our inaugural showcase last year,” says Rishi Idnani, Managing Director of the Continuum. “Despite the need for increased precautions to ensure the safety and comfort of everyone in attendance, this wonderful collaboration by Chef Michael White, a coveted award-winning Michelin Star honoree, and our very own Chef Claudio Lobina, gave our residents and guests a world class experience in culinary excellence as well as an evening of musical entertainment. On behalf of the entire Continuum management team, I would like to thank the festival’s organizing committee, together with the sponsors and our patrons for helping to make this second installment a resounding success. We would like to congratulate the festival’s management team for achieving an incredible 20-year milestone for one of the nation’s most highly regarded events on the culinary calendar.”

Guests were welcomed to The Patio restaurant with a live performance by the jazz group “Yamit and The Vinyl Blvd” as attendees were shown to their seats. Singing sensation Jean Vailant, returned with a superb vocal rendition of the Andrea Bocelli classics “Canto della Terra and “Time To Say Goodbye.” This was followed with a welcome speech and introduction to Chef Michael White by Steven Moll from the Florida International University Chaplin School of Hospitality and Tourism Management.

The night’s exclusive menu in regional Italian cuisine by Chef Michael White and Chef Claudio Lobina included: Lobster Caprese spoons to start, followed by Pea, Pecorino & Lardo Crostini, Warm Sicilian Red Shrimps with mango and potato chutney and Venetian Baccalà on polenta cake, as additional appetizers. Main entrée dishes included Amberjack and Burrata Olivada with lemon and pistachio; Risotto Porcini with Oregon Blonde Morel mushrooms and salmon with roasted peppers, asparagus and Salsa Bagna Cauda. The dessert course presented a Deconstructed Meringata with wild fresh berries. Each course was paired with a selection of international wines provided courtesy of Southern Glazer’s Wine & Spirits portfolio.

JDS Development Group's Luxurious South Beach Condo Monad Terrace by Ateliers Jean Nouvel Now 80% Sold Out

JDS Development Group, a leading real estate development, construction and acquisition firm, has announced 80% of the residences at Monad Terrace, including all four penthouses, are sold. The most recent closing of the building's crown jewel, PH-A, for $11.8 million, marks a record-breaking price for the flourishing waterfront neighborhood. Limited residences remain available at Monad Terrace, which are available for immediate occupancy and priced from $3 million. Remaining developer inventory is represented by Douglas Elliman Development Marketing.

Located at 1300 Monad Terrace in Miami Beach, Monad Terrace features interiors and landscaping designed by Pritzker Prize-winning architect Ateliers Jean Nouvel, in collaboration with Miami-based Kobi Karp Architecture and Interior Design, Inc. The building is comprised of 59 bayfront residences enveloping a glittering lagoon that reflects light throughout the structure's custom honeycomb glass façade. Monad Terrace blends light and water, glass and steel into what Jean Nouvel calls “the reflection machine.”

Residences range from from two- to five-bedrooms spanning 1,453 SF to 5,350 SF of interior space. Each light-filled residence is carefully oriented to enhance uninterrupted views of Biscayne Bay, Downtown Miami and South Beach. Expansive terraces sheltered by lush climbing gardens and framed by retractable floor to ceiling windows seamlessly blend the indoor to outdoor experience.

Residences at Monad Terrace feature private elevator access, custom kitchens and bathrooms by Jean Nouvel, an in-house concierge, a sun deck with a 116’ swimming pool and hot tub overlooking Biscayne Bay, valet parking, a café and juice bar, a wellness center, private dock, and a bicycle and water sports storage room. The project’s four penthouse residences include private pools on roof decks.

Monad Terrace is the first building structure in Miami Beach to be constructed above West Avenue’s new height, one of the ways Miami Beach is protecting against potential sea level rise. The building is elevated 11.5’ and incorporates impressive climate resilience features that establish a new standard of excellence for the city, offering intelligent design and exceeding new building codes.

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Miami-Based Private Equity Group Galium Capital Expands Houston Portfolio with Acquisition of 431-Unit Tate at Tanglewood

Galium Capital, LLC, a Miami-based private equity group, has announced the acquisition of Tate at Tanglewood in Houston, TX. The Tate at Tanglewood is a 431-unit institutional-grade multifamily apartment building in Galleria District of Houston. The transaction closed on May 27, 2021.

“We are excited to expand our multifamily portfolio in Houston with the acquisition of Tate at Tanglewood. The asset is of great quality and has tremendous potential for improvement, so we look forward to continuing to build its long-term performance with our management partner, Greystar” said Jacques Bessoudo, Managing Partner of Galium Capital.

The Tate at Tanglewood is a luxury apartment community which was developed in 2016 and is located at 5880 Inwood Dr, Houston, TX 77057. The property features 431 units and offers top-tier amenities on 5.3 acres of land. Tate at Tanglewood was 85% occupied at acquisition with an average rent of $1.65 PSF.

Upon acquisition the property will be operated by Greystar, the largest multifamily operator in the United States with over 660,000 units under management.

Units at Tate at Tanglewood range from one to three-bedroom floor plans and 647 SF to 1,462 SF. Residences feature wood plank flooring, granite slab countertops, stainless whirlpool gold series appliances and full-size washer and dryers. Select homes feature two-story loft layouts, barn-style sliding doors, rustic brick arches, 11 ft. concrete ceilings, vertical showers and private yards.

Residents will have access to world class amenities such as a 24-hour clubhouse, state of the art fitness facility including a yoga/spin room with personalized training programs, resort style pool, golf simulator and a private dog park with pet salon station.

“Tate at Tanglewood is an institutional grade community located within one of the best residential areas in Houston with strong upside opportunity. During our ownership we plan to achieve a significant increase in the building’s occupancy and overall performance and expect to see outsized returns as the Galleria submarket continues to grow exponentially” said Jonathan Slomianski, Director of Acquisitions of Galium Capital.

David Mitchell and Tip Strickland of Newmark represented the seller and secured the debt for the buyer.

Galium Capital, owns and manages a portfolio in excess of $515 million of commercial real estate assets across the multifamily, office, and retail sectors in major markets across the United States. The Tate at Tanglewood is Galium Capital’s second acquisition in the Galleria-district of Houston, TX after the group closed on the 361-unit institutional grade multifamily property, Fairmont on San Felipe, in September 2020.