Electra America, a real estate private equity firm focused on value-add and opportunistic investment in the Sun Belt region of the U.S., along with its U.S.-affiliate, American Landmark, and BH Group, a Miami-based private real estate investment and development firm, have revealed preliminary plans for the redevelopment and reinvention of the Southland Mall in Cutler Bay, located approximately 20 miles south of downtown Miami.
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Lynd Living Locks Down $22.75 Million In Financing For Miami Worldcenter Site Acquisition
Lynd Living has acquired Block 23 at Miami Worldcenter for $30 million, financed by a $22.75 million acquisition land loan. Block 23 is located between NW 9th and NW 10th Street on North Miami Avenue and is one of the last remaining land sites within Miami Worldcenter, the 2nd largest master planned community in the country, behind New York City’s Hudson Yards. The transaction closed on August 26th.
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The Estate Companies Obtains Site Plan Approval For Soleste on the Bay Luxury Waterfront Rental Development
The Estate Companies (EIG) has obtained unanimous site plan approval for Soleste on the Bay, a 759,439 square-foot, 28-story luxury waterfront rental community with 363 units, 17,000 square feet of commercial space and 645 parking spaces at 16375 Biscayne Blvd. in North Miami Beach. The city commission voted unanimously in favor of the project on Aug. 16th.
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Two Combined Single-Family-Home Lots at The Links Estates at Fisher Island Sell For $13 Million
Two combined single-family-home development lots at The Links Estates at Fisher Island spanning 31,619 SF have sold for $13 million, $411 PSF of dirt. Sandra Fiorenza with ONE Sotheby's International Realty and her husband Randall, the CEO and Owner of Pan Am Flight Academy, purchased 1003 and 1004 Links Estate Drive from the developer Fisher Island Holdings, LLC, led by Heinrich von Hanau. 1003 spans 15,949 SF and 1004 spans 15,670 SF, offering a combined 31,619 SF.
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PPG Development Acquires Bay Harbor Towers For $32 Million
PPG Development, led by Ari Pearl, have acquired Bay Harbor Towers, located at 10141 and 10143 East Bay Harbor Drive. The 1.03-acre property sold for $32 million, which equated to a price of $1,066,667 per existing unit. The transaction was overseen by Cary Cohen of Blanca Commercial Real Estate and Deme Mekras of MSP Group.
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Dubai-Based DAMAC Properties Closes On $120 Million Surfside Site Of Collapsed Condo, To Build Cavalli-Branded Condo
The Dubai-based DAMAC Properties, who was revealed as the she stalking horse bidder for the site of the former Champlain Towers South in Surfside, Florida which tragically collapsed in June 2021, has closed on the site for $120 million. DAMAC Properties, led by billionaire developer Hussain Sajwani, is planning to develop a Cavalli branded condo project on the site.
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RELATED, ROVR AND BH GROUP BEGIN VERTICAL CONSTRUCTION ON SOLD OUT DISTRICT 225 CONDOMINIUM
Real estate industry leaders Related Group, ROVR Development and BH Group have officially broken ground on the sold-out District 225. Located at 225 North Miami Avenue in Downtown Miami, the 343-unit property is a new luxury condominium tower offering residents the ability to host their condos on Airbnb for any stay length (subject to applicable laws and restrictions). Completion is slated for 2024.
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Gazit Horizons And Atlantic Pacific Reveal New Renderings Of Corwil Architects-Designed Brickell Gateway
Gazit Horizons and Atlantic Pacific have revealed new renderings for Brickell Gateway, a proposed 61-story tower set to rise 747’. Located at 90 SW 8th Street on a ½ acre hard corner development site, the current Corwil Architects-designed proposal includes 504 multifamily units, 18,287 SF of retail and 348 parking spaces.
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Boynton Beach City Commission Approves Public-Private Partnership Project, The Pierce, In Partnership With Affiliated Development
Boynton Beach City Commission has voted unanimously to approve all agreements between the City, the Boynton Beach CRA and Affiliated Development to advance highly anticipated $80+ million mixed-use, mixed-income workforce housing project, The Pierce. Located west of Federal Highway between Ocean Ave. and Boynton Beach Blvd., The Pierce will offer 16,800 SF of restaurant and commercial space and a minimum of 236 apartment units.
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MG Developer Acquires 33 Alhambra Circle In Downtown Coral Gable, Plans New Luxury Condominium Alhambra Parc
MG Developer, one of the most active developers in Coral Gables, has acquired a parcel of land at 33 Alhambra in Coral Gables’ Northside entrance and has announced plans to build a new mixed-use condominium community. Named Alhambra Parc, the project will feature with 33 luxury condominiums and retail on the ground floor. This acquisition was made in partnership with VYV.
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