Inside 'The Rise of Luxury In The Digital Age' Presented By Time & Tonic, PROFILEmiami & Kobi Karp

On Thursday March 3, Time & Tonic, PROFILEmiami & Kobi Karp hosted ‘The Rise of Luxury In The Digital Age’ panel discussion and cocktail party. Guests thoroughly enjoyed an enriching discussion which explored the rising demand and value in the luxury marketplace including collectors watches, cars, real estate, art, NFT’s, etc. The panel featured vintage supercar dealer John Temerian of Curated, early NFT investor and thought leader Avery Andon of ArtLife® and ArtGrails ™, legendary architect Kobi Karp of Kobi Karp Architecture & Interior Design and watch collector and expert JP Hernandez of Time & Tonic. The panel was moderated by Demetri Demascus of PROFILEmiami and ALTARA Properties. The panelists offered their insights on the booming industries taking over Miami, including real estate, crypto, collector cars and luxury timepieces.

Event attendance was by invitation only and limited to 50 guests, with notable attendees including Ronny Finvarb, Patrick Lee, David Miller, Marco Iacovelli, Ted Taylor and Scott Lawrence Porter, as well as luxury car specialist Stirling Fairman. Additionally hospitality professionals like Abraham Issa and Marine Galy, Crypto industry professionals like Madison Roberts, and Global Women's Advocate Nezah Alaoui.

Time & Tonic is a premium leader in the high-end watch market, bringing a modern and fresh approach to buying, selling, and trading luxury timepieces. Time & Tonic facilitates the consumer shopping journey through their exceptional customer service and digital platform. Visit TimeAndTonic.com. The event was produced in partnership with IHC Agency.

Lerner Acquires Motion at Dadeland High-Rise Multifamily For $114 Million

The Maryland-based Lerner Enterprises has acquired Motion at Dadeland for $114 million from the development partnership of 13th Floor Investments, Adler Group and Barings. Lerner received a loan from capital managed by KKR to finance the acquisition. Newmark's South Florida office led by Avery Klann exclusively represented the seller, while JLL's Rob Carey (Washington, DC office) and Ted Taylor (South Florida office) along with Newmark's Debt and Structured Finance team of Kassi Saridakis (Washington, DC office) and Matt Williams (South Florida office) advised Lerner on the transaction.

Motion at Dadeland is a 25-story class A+ multifamily high-rise community comprised of 294 market-rate apartments and 8,246 SF of amenity-based retail, including a preschool slated to open Q4 2021. The building is located at 8400 S. Dixie Highway, adjacent to Dadeland North Metrorail Station in Miami, Florida. Lerner will also be the property and asset manager of Motion at Dadeland.

"We are excited to own and manage a market-leading asset and provide increased value to our residents in Florida," said Melissa Balkin, Managing Director, Lerner Residential Florida.

Founded in 1952, Lerner is a developer, owner and manager of office, multifamily, retail and hospitality assets primarily in the greater Washington, DC region but also in other markets such as New York City and Florida. Lerner is also the owner of the Washington Nationals Baseball Club, the 2019 World Series Champions. Lerner's expertise in the Florida markets began with the Nationals' 160-acre training facility at The Ballpark of the Palm Beaches in West Palm Beach.

"We are thrilled to add to our Florida portfolio with the acquisition of Motion at Dadeland. Lerner is aggressively pursuing multi-family assets across Florida, focused primarily on the tri-county regions of Palm Beach, Broward and Miami-Dade counties. Motion will be a cornerstore asset in our portfolio for many years and we are pleased to complete our first transaction with KKR as a lender," reported Michael L. Cohen, Vice President of Investments at Lerner.

Motion at Dadeland, a transit-oriented development, is located within a ½ mile of nearly 2 million square feet of office with nearly 12 million square feet across the Dadeland submarket. Motion is also across the street from Dadeland Station which is home to Target, Best Buy, Dick's Sporting Goods, Bed Bath and Beyond, Michaels and PetSmart. The property is also walking distance from Dadeland Mall, which is the home of Tesla, Apple Store, Cheesecake Factory, Chick-Fil-A, LEGO, Coach, Disney Store, Macy's Florida Flagship, JC Penney, Zara, Lacoste and Saks Fifth Avenue.

Image via 13th Floor Investments

American Landmark Apartments Sells Lago Paradiso at the Hammocks Multifamily For $99 Million

Lago Paradiso at the Hammocks, a 424-unit, garden-style multi-housing community in the suburban neighborhood of Kendall in Miami-Dade, Florida, has traded for $99 million. JLL marketed the property on behalf of the seller, American Landmark Apartments and multifamily investment firm Cortland was the buyer. The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Managing Director Maurice Habif, Directors Simon Banke and Ted Taylor and Associate Jo Rousseau.

Lago Paradiso at the Hammocks comprises one- and two-bedroom units ranging from 552 to 945 square feet. Units feature designer cabinetry, granite counters, stainless steel appliances, full-size washers and dryers, walk-in closets and screened patios and balconies. The community offers two pools, a 24-hours fitness center, clubhouse with WiFi cafe, fire pit area, outdoor kitchen with gas grills, 24-hour package room, sailing and fishing, lakeside jogging and bike trail and controlled access.

Located at 15000 SW 104th St., residents of Lago Paradiso at the Hammocks enjoy direct access to many of Florida’s major highways, located just 16 and 10 miles southwest of Downtown Miami and Miami International Airport respectively. To the west is the Florida Turnpike and US Highway 1, with subsequent linkage to Interstate 95 to the east. The property offers easy access to local retail, entertainment and dining options, including The Fall, Dadeland Mall, Palms at Town & Country, Port of Miami and Freedom Park Stadium.

“Lago Paradiso represents a fantastic investment opportunity combining a phenomenal location and strong resident profile in a highly supply-constrained suburban market,” said Banke. “The potential for physical improvements at the property is supported by incredible market fundamentals and we are excited to see the community’s performance under Cortland’s ownership.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

Images via JLL

This article was produced in partnership with JLL