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Almost 1,000 acres for sale in rural Collier County

The owners of nearly 1,000 rural acres in Collier County have circulated an offering memorandum to sell their property. Land Solutions is marketing the partially cleared pasture land, known as the HHH Ranch, east of Collier Boulevard and north of the Alligator Alley section of Interstate 75. The offering memo has set a deadline of July 28 at 5 p.m. for bidders to make their best offer for the HHH Ranch. Randy Thibaut, one of … [more]

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Miami-based firm tops off Embassy Suites hotel in St. Augustine Beach

Miami-based real estate developer and investor Key International announced that crews topped off the first phase of construction of its Embassy Suites by Hilton hotel in St. Augustine Beach. The 175-room resort, scheduled for delivery in the first quarter of 2018, will be one of only five hotels in the Embassy Suites group with a beachfront location. The 6.5-acre construction site stretching from State Road A1A to the Atlantic Ocean has 535 feet of ocean … [more]

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National Cheat Sheet: Investors ditch hedge funds for real estate, Quicken Loans slapped with $11M fine … & more

Investors are putting their money in real estate over hedge funds From TRD New York: Wealthy investors currently have about 33 percent of their portfolios in real estate, according to a survey by Tiger 21, a social networking site for investors. The survey also revealed that hedge fund investments slid to 4 percent, Bloomberg reported. [TRD] Quicken Loans slapped with $11M fine for appraisal tampering Quicken Loans, the holder of the No.1 customer satisfaction rating by … [more]

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Orlando resort project gets $55.25 million boost from bond issue

Fort Lauderdale-based developer BTI Partners got a financial boost from a $55.26 million tax-exempt bond issue to fund construction work at a resort near Walt Disney World. BTI Partners is part of a joint venture finishing construction of the Grove Resort & Spa Orlando, a development that will have 878 condo-hotel suites along Lake Austin. Proceeds from the bond issue are expected to fund construction of a water park at Grove Resort & Spa plus … [more]

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Meritage plans 59-house subdivision in Lake Worth

Meritage Homes plans to build a 59-house subdivision in Lake Worth called Lake Cove, with prices from the low and mid $300,000s to $400,000. Scottsdale, Arizona-based Meritage plans to build the houses on a 12-acre site along 19 Avenue. William Waters, the community sustainability director in Lake Worth, told the Palm Beach Post construction of Lake Cove could start by year-end. Meritage plans to build three-bedroom homes at Lake Cove ranging in size from 1,481 … [more]

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Former Carnival CEO, ex-wife sell Coral Gables mansion for $5 million

Bob Dickinson, former CEO of Carnival Cruise Lines, and his ex-wife Jodi Dickinson finally sold their bay-front Coral Gables mansion for $5 million after listing it for sale in 2015. The Dickinsons, who divorced in January after 28 years of marriage, listed the 12,056-square-foot home home at 29 Tahiti Beach Island Road for sale in 2015 with an asking price of $6.2 million. The Dickinsons’ divorce settlement is not public, so it’s unclear how they … [more]

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June occupancy up at South Florida hotels

Conferences and conventions helped to lift June occupancy rates at South Florida hotels from last year’s levels. STR, a Tennessee-based hotel industry research firm, also reported that hotels’ average daily room rate in June rose in Broward County and Palm Beach County, compared to last year, and declined in Miami-Dade County. Ten large groups held events in Broward during June, including the Southwest Cannabis Conference & Expo (June 9-11) and the annual conference of the … [more]

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June sales of Naples-area homes rose 7%

June sales of Naples-area houses and condos increased 7 percent, pulled higher by home-buying in the northern end of the city. The Naples Area Board of Realtors also reported that the average number of days before listings became June sales was 97, up sharply from 76 days in June 2016. “The North Naples area is making a big turnaround, especially in the condominium market,” Coco Amar, a managing broker at John R. Wood Properties, said … [more]

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Tricera Capital and Alex Karakhanian pay $2.8M for Design District development site

Tricera Capital and investor Alex Karakhanian just paid $2.8 million for a site in the Miami Design District where they plan to develop a retail building, Tricera’s co-founders Ben Mandell and Scott Sherman told The Real Deal. Tricera and Karakhanian’s LNDMRK Development bought the property at 4112 Northeast First Avenue for $609 per square foot for the land. The 4,600-square-foot site currently houses a 2,100-square-foot building built in 1937 that will be torn down. Mandell said the plan … [more]

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Florida Panthers’ Aaron Ekblad buys waterfront Fort Lauderdale home for $5.7M

Florida Panthers’ Aaron Ekblad just bought a three-story house in Fort Lauderdale’s Las Olas Isles for $5.7 million, property records show. The Canadian ice hockey player signed an eight-year, $60 million contract with the hockey team last year. His new 7,500-square-foot home on 440 San Marco Drive traded for $760 per square foot. Records show the seller, 440 San Marco Drive LLC, linked to David Steinberg, bought the property in 2015 for $1.4 million before … [more]

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