Pebb Enterprises and the Toledano family’s BH Group scored an $89.9 million loan for a portion of their mixed-use redevelopment of Office Depot’s headquarters campus in Boca Raton. Boca Raton-based Pebb and Aventura-based BH Group will use the debt to refinance an existing loan, and also for the development of an Equinox facility and to … Read more
Bridge Industrial plans to replace a corporate campus in Doral into nearly 270,000 square feet of warehouses, marking continuing office-to-industrial redevelopment in South Florida. Across the tri-county region, developers are seizing on aging suburban office complexes with plans for new projects, primarily warehouses, with some planning residential developments. Although office leasing has boomed in Miami’s … Read more
The Boca Raton City Council unanimously approved plans by the city’s housing authority and Miami-based Atlantic Pacific Companies to add 105 apartments to a decades-old affordable housing complex. The zoning changes will enable Atlantic Pacific and the Boca Raton Housing Authority to build two new three-story apartment buildings with 54 one-bedroom units, 42 two-bedroom units … Read more
The Riviera Beach City Council unanimously voted to forge a deal with a team led by Sonnenblick Development that will include the construction of a new city hall and library, sports complexes, and residential units on about 72 acres of publicly owned land. The 5 to 0 vote took place during Riviera Beach City Council’s … Read more
Riviera Beach approved a deal with New York-based Exact Capital to enable it to build 280 apartments in the city, most of which will be workforce and affordable housing. The development agreement, which includes the sale of a half-acre property owned by the Riviera Beach Community Redevelopment Agency for $2 million, was approved by a … Read more
The billionaire family that owns the Washington Nationals struck out in the Kendall multifamily submarket. An affiliate of Rockville, Maryland-based Lerner Residential sold Motion at Dadeland, a 25-story tower with 295 apartments at 8400 South Dixie Highway for $72.4 million, records and real estate database Vizzda show. The buyer, an affiliate of Los Angeles-based JRK … Read more
The Cornerstone Group and Brookstone Partners propose a 354-unit multifamily tower in Miami’s Little Havana neighborhood, amid an apartment building frenzy in South Florida. Cornerstone and Brookstone, both based in Hollywood, want to develop an eight-story building with a 5,000-square-foot grocery store on a 2.4-acre site on the northwest corner of Northwest Eighth Avenue and … Read more
Abacus Capital broke ground on its Palm Beach Gardens apartment project after nabbing a $77.5 million construction loan. Affiliates of Beverly Hills, California-based Kennedy Wilson and Toronto-based Fairfax Financial provided the financing for Arbor House, a planned 13-story building with 302 units and an eight-story garage with 480 parking spaces at 3701 Catalfumo Way South, … Read more
Abraham Bergman, Opal Realty NY and The Scharf Group are planning a mixed-use project in Miami Beach, after buying a development site for $15.5 million. The joint venture acquired two parcels at 7410 Collins Avenue and 7400 Harding Avenue in the city’s North Beach neighborhood, near the planned Ocean Terrace development by Witkoff, Alex Blavatnik … Read more
OKO Group and Cain International won initial approval to move forward with their planned three-building oceanfront condo project in Palm Beach. The proposed five-story, three-building complex has undergone multiple revisions since the first presentation to Palm Beach’s notoriously severe Architectural Review Commission (Arcom) in March. In the meeting on Wednesday, the developers got the green … Read more