Gaia Real Estate moved its headquarters from New York to Miami, as it focuses on investment in South Florida’s multifamily market. The move comes after a slowdown of the influx of out-of-state companies to South Florida, which reached an apex in the three post-pandemic years. Gaia’s heightened investment in the Magic City also comes at … Read more
A 50-foot-wide rotating bookshelf planted in the sand in front of the Faena District is drawing crowds during Miami Art Week — a fitting backdrop for a mixed-use project that has, since it opened a decade ago, fused luxury real estate with the art world. The installation, called The Library of Us, by Es Devlin, … Read more
Miami Dade College’s board of trustees doubled down on its controversial plan to hand over a prime downtown parcel for Donald Trump’s $950 million presidential library. The board unanimously reapproved the land transfer on Tuesday at a packed morning meeting in Hialeah, the Miami Herald reported. The redo vote resulted from a pending lawsuit alleging … Read more
Vlad Doronin’s OKO Group and Cain International scored a $630 million refinancing for their 830 Brickell office tower. The deal comes amid strong lending in South Florida, despite higher interest rates. Lenders led by Goldman Sachs and J.P. Morgan Chase provided the refinancing, which replaces the $565 million construction bridge loan that OKO and Cain … Read more
A penthouse at Murano Grande in South Beach led a slow week of new signed contracts in Miami-Dade County. The pending deal for the nearly $15 million condo marks the most expensive of 11 contracts signed in Miami-Dade between Nov. 24 and Nov. 30, according to the latest Eklund-Gomes report. It tracks listings of homes … Read more
The CEO allegedly at the center of Brazil’s latest banking scandal quietly amassed a portfolio of luxury homes in Miami — reinforcing the familiar truth that there’s always a Florida connection to a major news story. Daniel Vorcaro led and was the largest shareholder of Banco Master, which Brazil’s central bank shut down earlier this … Read more
JPMorgan added another South Florida commercial property to its real estate portfolio, spending a combined $77 million this month after acquiring a Miami Beach bank building and a Coral Springs shopping center. In the most recent deal, the New York-based bank, led by CEO Jamie Dimon, paid $23.5 million for the 25,030-square-foot building housing JPMorgan’s … Read more
UHealth, the health care division of the University of Miami, continues expanding its portfolio of South Florida medical office facilities after acquiring a Deerfield Beach building for $16.4 million. Coral Gables-based UHealth bought a 45,136-square-foot building at 1192 East Newport Center Drive, records show. The two-story facility is leased to the health system’s Sylvester Comprehensive … Read more
Naftali Group closed on nearly half a billion in financing for its JEM Private Residences at Miami Worldcenter. The New York-based development firm secured $235 million in C-PACE financing from Darien, Connecticut-based Nuveen Green Capital, and $230 million in traditional construction loans from BHI, the U.S. arm of Israel-based Bank Hapoalim, according to a press … Read more
Miami Dade College’s board of trustees is hitting the reset button on a land giveaway for Donald Trump’s planned $950 million presidential library and high-rise complex next to downtown Miami’s Freedom Tower, bowing to a legal challenge that accused the school’s leaders of skirting Florida’s open-government rules. The board will hold a newly noticed public … Read more