RSS “The Real Deal”
- Forest Development, Royal Palm nab $269M condo construction loan July 1, 2022A joint venture between Forest Development and Dan Kodsi’s Royal Palm Companies scored a $269 million construction loan for a waterfront condo project in Palm Beach County’s Lake Park. Boca Raton-based Forest Development recently partnered with Miami-based Royal Palm on the two 24-story tower Nautilus 220 development along the Intracoastal Waterway at 220 Lake Shore […]By Lidia Dinkova
- CP Group, DRA Advisors buy Miami Tower for $164M July 1, 2022CP Group and DRA Advisors teamed up to buy Miami Tower, a landmark downtown office skyscraper known for its color-changing LED exterior, for $60 million less than its owner paid six years ago in a bet that the recent rush of major employers to South Florida will continue. A source close to the deal said […]By Francisco Alvarado
- “Get your money out now”: Miami brokers target Colombian buyers after leftist’s election July 1, 2022Uncertainty in the wake of left-wing Colombian presidential candidate Gustavo Petro’s victory in a June runoff election has Miami preparing for a wave of buyers from Latin America. Brokerages say they’ve been sending agents to Colombia to market both new developments and existing properties in South Florida, hoping to capitalize on demand from wealthy residents […]By Katherine Kallergis
- Oak Row Equities plans 400-unit apartment, office tower in Edgewater July 1, 2022Oak Row Equities, the developer and private equity firm that until recently was known as Carpe Real Estate Partners, is planning a roughly 40-story apartment and office tower in Miami’s booming Edgewater neighborhood. The newly renamed firm, led by founders Erik Rutter and David Weitz, purchased the 2-acre site between Northeast Second Avenue and Biscayne […]By Lidia Dinkova
- Kaufman Lynn sells Delray Beach HQ for $10M, but firm won’t relocate July 1, 2022Kaufman Lynn Construction sold its Palm Beach County headquarters for $10.3 million, but is staying put. An entity managed by Kaufman President and CEO Michael Kaufman sold the 22,000-square-foot, single-tenant office building at 3185 South Congress Avenue in Delray Beach, records show. The buyer, J.J.D. Associates of Palm Beach, an entity tied to Westmount Management’s […]By Francisco Alvarado
RSS “Florida Realtors”
- Fla. Condos Start to See Impact of Surfside Collapse July 1, 2022The tragedy rattled a Fla. insurance industry that was already struggling. One Palm Beach condo complex expected a 25% increase – but coverage rose by 82%.kerrys
- Technology Making It Easier to Age In Place July 1, 2022Older adults often want to stay in their home, and new tech tools – smart beds, fall detectors, security cameras, etc. – make it easier to do that.kerrys
- U.S. House Focuses on Institutional Investors July 1, 2022A committee looked at the impact on first-time buyers and minorities – and the real estate industry – if a high percentage of traditional family homes become rentals.kerrys
- Most Credit Scores Stop Counting Medical Debt July 1, 2022The three big credit reporting agencies now don’t include medical debt in reports for banks, landlords, etc.; and they won’t report small medical debts at all in 2023.kerrys
- Will High Rental Profits Hurt Subsidized Housing? July 1, 2022Some advocates worry that investors in subsidized government housing will drop the affordable-housing subsidies in order to raise rents and pursue higher profits.kerrys