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
Actor Rob Lowe has finally managed to offload the Beverly Hills estate he has spent more than a year trying to sell—but had to chop more than $2.5 million from his original asking price to close the deal. The 60-year-old “St. Elmo’s Fire” star, who has become known as quite the prolific property purchaser, originally … Read more
West Shore bought a 542-unit apartment complex in Palm Beach Gardens for $117.9 million, marking a continuing uptick of multifamily investment sales in South Florida. Boston-based West Shore bought the Palm Beach Gardens Apartments at 4120 Union Square Boulevard from Aventura-based Advenir, according to records and real estate database Vizzda. The buyer borrowed a $550 … Read more
Blackstone held a fire sale on an Aventura senior living facility, selling the site for a $36.5 million discount. Aventura-based BH Group, led by Isaac and Liat Toledano, and Fort Lauderdale-based Gold Standard of Care bought Sterling Aventura at 2777 Northeast 183rd Street in Aventura for $12 million, a source close to the transaction told … Read more
Macquarie Capital | Principal Finance and Vanderbilt Office Properties sold a multifamily development site approved for nearly 300 units in Boca Raton for $21.2 million. NADG, or North American Development Group, bought the 6.8-acre site at 1800 North Military Trail, according to records and real estate database Vizzda. The land shares the same lot as … Read more
Raoul Thomas’ financially floundering CGI Merchant Group sold its Nexus co-working portfolio for $31 million. Over the past two years, Miami-based CGI Merchant has faced debt woes on its properties and parted with most of its portfolio through either foreclosures or sales. Its troubles came amid elevated interest rates that have increased payments for floating-rate … Read more
Facing foreclosure on its development site in Boca Raton, Penn-Florida Companies sold the 1-acre lot previously planned for an assisted living facility for $27 million. Led by Mark Gensheimer, Penn-Florida sold the vacant property at 375 East Royal Palm Road to Boca Raton-based SobelCo, according to records and real estate database Vizzda. SobelCo, a real … Read more
Marc Anthony’s downtown Miami condo sale may have him singing “I need to know” where the profit went. The Grammy winning singer-songwriter, whose full name is Marco Antonio Muñiz, sold the 8,400-square-foot unit at One Thousand Museum at 1000 Biscayne Boulevard for $8.6 million, according to the listing and property records. He paid $11 million, … Read more
Coca-Cola bottling mogul and art collector Carlos de la Cruz Sr. sold his waterfront Key Biscayne mansion for $23.5 million. Records show de la Cruz sold the house at 5 Harbor Point to an entity named for the address and managed by Alvaro Castro Mendivil Pinillos, the head of a Peruvian construction company. Brigitte De … Read more
TA Realty picked up a 476-unit apartment complex in Palm Beach Gardens for $193 million, marking a continuing uptick of multifamily investment sales in South Florida. Boston-based TA Realty bought the gated garden-style community at 100 Portofino Drive from New York-based Blackstone, according to records and real estate database Vizzda. The deal breaks down to … Read more