The Greensboro, NC-based Bell Partners has acquired two apartment communities in Boca Raton, The Lumin at Boca Raton and Cade Boca Raton, for $94.25 million. The Lumin at Boca Raton and Cade Boca Raton are located within the Park at Broken Sound, at 5500 Broken Sound Blvd. and 950 NW Broken South Parkway respectively.
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Elevate Partners Locks Down $92 Million In Financing For The Newly Completed Four West Las Olas Apartment Tower
Elevate Partners, led by Scott Bodenweber and Tom Vogel, have locked down $92 million in 3-year bridge financing with optional extension for Four West Las Olas. The loan was provided by the New York-based Benefit Street Partners Realty Trust, who provided $76 million of senior debt, and the West Palm Beach-based Electra Capital who provided $16 million in mezzanine financing.
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Coral Rock Development Group Closes On $53.5 Million In Construction Financing For Pura Vida Hialeah
Miami-based Coral Rock Development Group has announced that they have closed on a $53.5 million participating construction, mini perm loan for the residential portion of Pura Vida Hialeah, a nine-acre mixed-use project that is transforming Hialeah and is set to be the first of its kind in the area in more than 20 years. Principal Real Estate Investors served as the lender.
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Miami Heat Star Udonis Haslem And Magellan Housing Score Approval To Build Wynwood Works On City Owned Land
A partnership between Haslem Housing Ventures, led by Miami Heat star Udonis Haslem, and the Coral Gables-based Magellan Housing, have received approval from Miami’s Omni Community Redevelopment Agency (CRA) to build Wynwood Works, a 12-story mixed-use apartment project in Wynwood. Wynwood Works will be built on city owned land at 2035 North Miami Avenue.
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MiamiCentral Station Reveals Stantec Interiors for Park-Line Miami Residences By Brightline
MiamiCentral Station has revealed the new Stantec-designed interiors of the new two-tower, 816-unit Park-Line Miami Residences by Brightline. The globally-acclaimed architecture and design firm Stantec designed the lobby interiors of the north tower plus the amenity spaces, corridors, and unit finishes of both 30-story towers, located above Brightline’s MiamiCentral passenger rail station.
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Cardone Capital Acquires Port Royale Apartments In Fort Lauderdale Via Crowdfunding Campaign
Cardone Capital, led by the “10X Rule” author and founder of the 10X Movement Grant Cardone, has acquired the Port Royale Apartments in Fort Lauderdale in one of the largest crowdfunding real estate deals to ever close in South Florida.
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Aimco Acquires Hamilton On The Bay Multifamily In Edgewater For $89.6 Million
The 275 unit bayfront multifamily rental tower Hamilton on the Bay in Miami’s Edgewater neighborhood has sold for $89,600,000, which breaks down to roughly $330,000 per unit. Rani Hussami of Marcus & Millichap’s Hussami Rockson Group represented the seller, Properties of Hamilton, Inc. in the transaction.
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Miami-Dade County And Related Urban Development Group Break Ground on Three Round Towers
Miami-Dade County Mayor Carlos A. Gimenez, Chairwoman Audrey M. Edmonson and Related Urban Development Group (RUDG) have celebrated the ground-breaking of Three Round Towers B&C and Brisas del Este, an affordable housing development encompassing three buildings for a combined total of 383 units in the Allapattah area of Miami-Dade County.
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Miami's First Large Scale Opportunity Zone Development Tops Off At 18-Stories in Downtown Miami
Co-developers The Estate Companies (EIG) and PTM Partners (PTM) have announced the topping off of the 230,430-square-foot, 18-story, 360-unit luxury rental development, Soleste Grand Central (Soleste Grand). Located at 218 NW 8th Street, steps from MiamiCentral Station in Downtown Miami, Soleste Grand represents Miami’s first large-scale opportunity zone real estate development.
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Melo Opens Miami Plaza Tower In Downtown Miami's Arts & Entertainment District, Marking Milestone 2,300+ Units Completed In 5 Years
Melo Group, one of Miami’s most active residential development firms, has transformed and activated Downtown Miami’s Arts & Entertainment District with attainable, transit-oriented multifamily product for local residents.
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