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.

Weekly Construction & Real Estate News Round-Up 12/19

1. SLS LUX Brickell has topped off at 58 stories.
2. PARAMOUNT Miami Worldcenter is closing in on a construction loan to complete the project after  they officially completed acquisition of the site for $26.275 million from Art Falcone and Miami Worldcenter Associates. The project is over 55% sold.
3. One Thousand Museum secures $225 million construction loan.
4. Midtown 5's first residents move-in. Rent's around $3 SF.
5. Genting’s Resorts World have taken over operations at the Gulfstream Park casino in Hallandale Beach. Genting is trying to have those casino operations moved to downtown Miami.
6. The developer of the Metropica master-planned community in Sunrise, YOO, has launched pre-construction sales of six loft-style condos with prices starting just under $400,000.
7. Alan Faena’s companies hit with second lawsuit from dissatisfied buyer
   Suit alleges $7.3M unit had cracked mirrors, missing appliances and no kitchen cabinets