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Cool, Cool Summer

Cool, Cool Summer

Can South Florida crack its dramatic boom-bust condo cycle?…

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Value-Added Apartment Portfolio Sold in North Miami Beach

Value-Added Apartment Portfolio Sold in North Miami Beach

Three apartment communities in the North Miami Beach area changed hands recently, the seller Faith Investment Properties Group, announced. Grand Island Place I, Grand Island Place II, and Aventura Brentwood Apartments include 310 units and were sold for the total of $28 million.…

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PARAMOUNT Fort Lauderdale Beach Over 60 Percent Sold Out

PARAMOUNT Fort Lauderdale Beach Over 60 Percent Sold Out

PARAMOUNT Fort Lauderdale Beach, a 95-unit luxury oceanfront condominium development has more than 60 percent of its residences under contract, as announced by OneWorld Properties, the project’s exclusive brokerage.…

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TODAY’S DEALS: KeyBank Real Estate Capital Provides $215M in Senior Debt

TODAY’S DEALS: KeyBank Real Estate Capital Provides $215M in Senior Debt

KeyBank finances a 1,284-unit mixed-income housing community; Crown Bay Group completes its first Atlanta acquisition; and Faith Investment Properties closes three sales valued at $28 million. …

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TODAY’S DEALS: Fort Lauderdale Condo Site Sells for $10M

TODAY’S DEALS: Fort Lauderdale Condo Site Sells for $10M

ARA Newmark brokers the sale of a condo site in Florida; TGM Associates completes a disposition in Jupiter, Fla.; and HFF brokers $70 million in joint venture equity. …

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Royal Palm Office Park Finalizes Six Leases Amid Complete Renovations

Royal Palm Office Park Finalizes Six Leases Amid Complete Renovations

Royal Palm Office Park has completed six leases recently, totaling more than 55,400 square feet. The transactions include five lease renewals with current occupants and one new contract with a new tenant, financial terms were not disclosed. Blanca Commercial Real Estate represented the landlord, an affiliate of Lincoln Property Company,…

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KBS Realty Closes on 189K SF Financial Center at the Gardens

KBS Realty Closes on 189K SF Financial Center at the Gardens

By Balazs Szekely, Associate Editor Financial Center at the KBS Realty Advisors of Newport Beach, Calif. has picked up a 188,772 square-foot Class A office building from institutional investors advised by JP Morgan Asset Management. The property, Gardens, is located at the northwest quadrant of PGA Boulevard’s intersection with Interstate…

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Miami-Based Integra Closes on Former Bank Atlantic HQ for $21M

Miami-Based Integra Closes on Former Bank Atlantic HQ for $21M

By Balazs Szekely, Associate Editor The former Bank Atlantic headquarters has changed hands for $21 million in the largest single-tenant vacant building sale in the Cypress Creek submarket in the last five years, according to Stiles Realty. The sales price equates to $113.51 per square foot. The seller, Branch Banking…

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Foreign Investor Purchases Portfolio of Nine Warehouses in $2.2M Deal

Foreign Investor Purchases Portfolio of Nine Warehouses in $2.2M Deal

Doral 58th Street Warehouses, a portfolio comprised of nine warehouse properties was sold recently, as announced by Douglas Elliman. The $2.2 million transaction was negotiated by Douglas Elliman Commercial Division Associate while CCIM Miami District Director Mitash Kripalani represented the seller, 58 Street Warehouses LLC. A foreign investor acquired the…

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Grover & Corlew Acquires 175-KSF Delray Beach Office Park

Grover & Corlew Acquires 175-KSF Delray Beach Office Park

The Arbors Office Park in Delray Beach was picked up recently by Grover & Corlew, LLC for $20.15 million, according to a recent news release. 1615 Arbors North Associates, LLC and 1625 Arbors South Associates, LLC sold the two-building, 174,816-square-foot portfolio and CBRE spoke for the sellers in the transaction.…

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Duke Realty Breaks Ground on First Building of Pembroke Pines Office Park

Duke Realty Breaks Ground on First Building of Pembroke Pines Office Park

Construction works have recently started on a new four-story office building in Pembroke Pines, Duke Realty Corporation’s South Florida office announced.…

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Banco do Brasil Americas Adds 3 New Branches in SoFla

Banco do Brasil Americas Adds 3 New Branches in SoFla

Miami-based Banco do Brasil Americas has signed leases for three new South Florida branches. The offices are located in Lighthouse Point, Aventura and one that is already in use in Doral. Senior Vice President Luciana Carvalho of Blanca Commercial Real Estate finalized the lease transactions with Banco do Brasil Americas.…

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