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Collection Residences site listed for sale as litigation between Ugo Colombo and Masoud Shojaee drags on

More than two years after a partnership to develop the Collection Residences fell apart, the Coral Gables development site at the heart of it all is hitting the market. A county judge ordered the 2.8-acre property be listed for sale as litigation between developers Ugo Colombo and Masoud Shojaee rolls on. Avison Young’s Michael Fay, John Crotty, David Duckworth and Colin Trabold were hired to list the assemblage at 250 Bird Road, 245 Altara Avenue, … [more]

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Dufry signs lease for future HQ at Prologis’ Beacon Lakes

Swiss travel retailer Dufry just inked a 200,000-square-foot lease at Prologis’ Beacon Lakes business park in northwest Miami-Dade County, where it’s planning to move its regional headquarters. The building is breaking ground soon and will rise at the southeast corner of Northwest 137th Avenue and Northwest 14th Street, between Northwest 14th and State Road 836, according to a spokesperson for the commercial brokerage representing the tenant. The build-to-suit warehouse space will add 40,000 square feet … [more]

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Brightline owner’s proposal to build a new Miami-Dade courthouse lives on

A proposal by Brightline’s parent company to build a new Miami-Dade Courthouse has been revived. The Miami-Dade County Commission on Wednesday unanimously approved a resolution directing Miami-Dade Mayor Carlos Gimenez to continue negotiating with New Flagler Courthouse Development Partners, or NFCDP, to build a new civic courthouse near the existing courthouse at 73 West Flagler Street. The NFCDP development team includes Florida East Coast Industries, a company that runs the Brightline passenger rail train and … [more]

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Developers refinance 2500 Biscayne, sell ownership stakes

Greystone Development just sold its stake in a new mixed-use rental tower in Edgewater, and the remaining owners refinanced the property. The New York-based development company partnered with Alta Developers to build the 19-story, 156-unit building at 2500 Biscayne Boulevard. Alta refinanced the building with a loan in the $50 million to $60 million range from Invesco, sources said. Infinity Real Estate, a partner in the project, also closed on the roughly 13,000-square-foot retail component … [more]

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US existing home sales posts largest decline in three years

According to this week’s market reports, the Manhattan luxury market had its best week in nine months and only 14 percent of companies consider themselves to be agile with their real estate portfolios. Residential Sales | TOWN Residential From January 22 to February 18, there were 728 contracts signed in Manhattan. Out of that total, 363 transactions were for co-ops, followed by 331 deals for condos and 20 for condops. The most robust price segment … [more]

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New renderings of Aston Martin Residences, Estates at Acqualina & more

A handful of developers just released new renderings of some South Florida projects that are in the works, including Aston Martin Residences tower in Miami, Uptown Biscayne in North Miami Beach, the Estates at Acqualina and the Water Club North Palm Beach. Aston Martin Residences G&G Business Developments and Aston Martin unveiled the interiors of the luxury car-branded condo tower planned for downtown Miami. Aston Marton’s Marek Reichman incorporated elements and materials from the car … [more]

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Home sales, prices rose in all three SoFla counties in January: Florida Realtors

New year, new South Florida? Home sales were up in Miami-Dade, Broward and Palm Beach counties at the start of 2018, according to new reports from the Florida Realtors. Median prices were also on the rise. The higher sales figures follow a slow 2017. Despite an overall increase in residential dollar sales volume in South Florida’s three counties last year, the number of sales fell. Miami-Dade Residential sales posted the biggest overall increase in the … [more]

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REIT buys preschool in Davie

  An affiliate of EPR Properties, a Kansas City-based real estate investment trust, just paid $8.9 million in a sale-leaseback deal for a preschool in Davie, property records show. A company tied to Miami-based school operator and developer, Endeavor Schools, sold the 22,200-square-foot Creative Child Learning Center at 1305 Southwest 101st Road for about $400 per square foot. The seller, ES Creative Propco LLC, led by Endeavor founder Ricardo Campo, is staying as a tenant … [more]

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Avra Jain turns to Overtown for next restoration project

UPDATED, Feb. 21, 6:10 p.m.: Real estate developer Avra Jain is looking at Overtown for her next big preservation project – and wants the area’s community development agency to help fund it. The Omni Community Redevelopment Agency submitted a proposal to the Miami City Commission, including a request by Avra Jain’s Vagabond Group to buy and restore five garden apartment buildings just south of Northwest 16th Street, between Northwest First Court and Northwest First Place. The … [more]

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Swire partners with Carlos Mattos to develop site next to Brickell City Centre

Swire Properties is making moves again in Brickell. Swire is partnering with Colombian businessman Carlos Mattos to jointly develop the property at 650 South Miami Avenue, a spokesperson told The Real Deal. The developers are planning a residential project on the former Tobacco Road site. Mattos made his money with Hyundai Colombia Automotriz, a car import and distribution company he founded in his home country. His company Isanic Trading will co-develop the 72,000-square-foot plot of … [more]

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