Florida

JDS Development Group Unveils Plans for 67-Story Mixed-Use Tower in Miami

by Taylor Williams February 26, 2024

MIAMI — JDS Development Group has unveiled plans for Mercedes-Benz Places, a 67-story mixed-use tower that will be located in Miami’s Brickell neighborhood. Designed by SHoP Architects and developed in partnership with the German automaker, Mercedes-Benz Places will feature 791 condominium units, a 174-room hotel, 200,000 square feet of office space, retail space, restaurant space and onsite parking. Preliminary sitework is underway, and initial occupancy is slated for 2027. Residential units will come in studio, one-, two- and three-bedroom floor plans. All residents and hotel guests will have individual balconies and terraces with views of the Miami skyline, Biscayne Bay and the Atlantic Ocean, as well as access to more than 130,000 square feet of shared indoor and outdoor amenity space. In addition, Mercedes-Benz Places will feature electric vehicle charging stations, a ridesharing fleet of cars for residents, and bicycle and scooter sharing programs. Canopies of trees and native vegetation, courtesy of urban landscape designer Field Operations, will also dot the property. “Our branded real estate venture in Miami embodies the strategy behind Mercedes-Benz Places — we want to develop exclusive residences with our partner that are undeniably Mercedes-Benz and create a new mode of urban living with vibrant communities,” …

February 26, 2024

Development Florida Multifamily Southeast

Kolter Breaks Ground on 252-Unit Alton Osprey Apartments Near Sarasota, Florida

by John Nelson February 23, 2024

OSPREY, FLA. — Kolter Multifamily, an affiliate of Delray Beach, Fla.-based The Kolter Group, has broken ground on Alton Osprey, a 252-unit apartment community in Osprey. Situated at 174 E. Bay St. roughly 10 miles outside of Sarasota, the property will feature one-, two- and three-bedroom units within three-, four- and five-story buildings. Apartments will range from 740 to 1,492 square feet. Amenities will include a swimming pool, fireside lounge, outdoor kitchen with grills, business center, conference room, coworking offices with a coffee bar and free Wi-Fi, game lounge and a fitness center with a yoga and spin studio. The property will also feature bike storage areas, package acceptance services and electric vehicle charging stations. A construction timeline was not disclosed.

February 23, 2024

Acquisitions Florida Retail Southeast

Cushman & Wakefield Arranges Sale of 74,234 SF Shopping Center in Lake Mary, Florida

by John Nelson February 23, 2024

LAKE MARY, FLA. — Cushman & Wakefield has arranged the sale of Shoppes of Lake Mary, a 74,234-square-foot shopping center located in Lake Mary, roughly 20 miles outside Orlando. The property was 97 percent leased at the time of sale to tenants including HomeSense, PNC Bank, Jeremiah’s Italian Ice and Gator’s Dockside. An entity related to shopping center owner/developer Phillips Edison & Co. acquired the property for an undisclosed price. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, an affiliate of Nuveen Real Estate, in the transaction.

February 23, 2024

Affordable Housing Development Florida Loans Multifamily Southeast

Berkadia Secures $118.5M Construction Financing for Affordable Housing Development in Orlando

by John Nelson February 22, 2024

ORLANDO, FLA. — Berkadia has secured $118.5 million in financing for the construction of 52 at Park, a 300-unit affordable housing development located in Orlando. The financing includes a $73.5 million construction loan and $45 million in Low-Income Housing Tax Credit (LIHTC) equity. Chris McGraw and Tim Leonhard of Berkadia arranged the financing on behalf of the borrower, Lincoln Avenue Communities. 52 at Park will feature eight buildings comprising a mix of one-, two-, three- and four-bedroom units reserved for households earning 60 percent of the area median income (AMI). Amenities will include a business center, clubhouse, fitness center, pool, laundry room and a game room. The target delivery date was not disclosed.

February 22, 2024

Development Florida Mixed-Use Multifamily Southeast

Partnership Tops Out 509-Unit Residences at The Wynwood Plaza in Miami

by John Nelson February 21, 2024

MIAMI — Co-developers L&L Holding Co. and Oak Row Equities, along with project partner Shorenstein Properties and capital partner Claure Group, have topped out the Residences at The Wynwood Plaza, a 509-unit apartment development in Miami. The property serves as the multifamily component of Wynwood Plaza, a 1 million-square-foot mixed-use development underway in the city’s Wynwood district. Designed by Gensler, Residences at The Wynwood Plaza will feature studio, one- and two-bedroom apartments with floor-to-ceiling windows, modern appliances, high-end finishes and flexible layouts. Amenities will include 32,000 square feet of retail space, multiple connected rooftops, a multi-purpose sports court, two outdoor pools, sauna, hot tub, cold plunge pool, coworking spaces, private phone rooms, game lounge and a modern fitness center. Urban planning firm Field Operations designed the property’s 26,000-square-foot public plaza. L&L Holding and Oak Row plan to begin welcoming residents in 2025. The duo also topped off on Wynwood Plaza’s 12-story office tower in September 2023.

February 21, 2024

Development Florida Industrial Southeast

Miller Construction Completes 199,643 SF Industrial Facility in Hollywood, Florida

by John Nelson February 21, 2024

HOLLYWOOD, FLA. — Miller Construction Co. has completed a 199,643-square-foot warehouse for Seagis Property Group at 1700 Eller Drive in Hollywood, a South Florida city near Port Everglades in Fort Lauderdale. The load bearing, tilt-wall structure gives tenant access to Florida’s Turnpike, I-95 and I-595. The property features 54- by 50-foot bays, a 60-foot speed bay and 36-foot clear heights, as well as two spec office spaces. In addition to Miller Construction, the project team included Ware Malcomb Architects, MEP engineer Puga & Associates Inc., structural engineer DDA Engineers and civil engineer Langan Engineering.

February 21, 2024

Florida Loans Mixed-Use Southeast

Greystone Provides $419.6M Refinancing for Panorama Tower in Miami

by John Nelson February 20, 2024

MIAMI — Greystone has closed a $419.6 million financing package for the refinancing of Panorama Tower, an 85-story mixed-use skyscraper located on Brickell Bay Drive in Miami’s Brickell district. The tower features 821 apartments; 112,731 square feet of Class A offices; 25,219 square feet of retail space; a 2,000-space private parking garage; and an attached 19-story, 208-room Hyatt Centric hotel. The financing package included a nearly $335 million Freddie Mac Optigo senior loan that was underwritten with a five-year term and 35-year amortization schedule. The financing also included $85 million of “agency-compliant subordinate debt” and preferred equity led by an unnamed global pension fund. The borrower is Florida East Coast Realty, an entity led by the Hollo family.

February 20, 2024

Development Florida Multifamily Southeast

Catalfumo Cos. Receives Approval for 620 Additional Units at Gardens Station Multifamily Project in South Florida

by John Nelson February 19, 2024

PALM BEACH GARDENS, FLA. — Catalfumo Cos. has received approval from the City of Palm Beach Gardens for the development of an additional 620 multifamily units at its Gardens Station project in South Florida. Project partner The Richman Group of Cos. is currently underway on the construction of the originally planned 398 units. Located at 11025 RCA Center Drive, the community will total 1,016 apartments, with more than 100 residences dedicated to workforce housing. Gardens Station is situated within the larger PGA Station transit-oriented development, which also features office space and apartment community The Marc, which is scheduled for delivery later this year. The new addition to Gardens Station was designed by Corwil Architects. A construction timeline was not disclosed.

February 19, 2024

Development Florida Industrial Leasing Activity Southeast

RoadOne IntermodaLogistics Leases Full 422,136 SF Industrial Building in Jacksonville

by John Nelson February 19, 2024

JACKSONVILLE, FLA. — RoadOne IntermodaLogistics has signed a 422,136-square-foot industrial lease at 1000 Imeson Park Blvd. in Jacksonville. A joint venture between North Signal Capital and an affiliate of Fox Capital Partners, doing business as JAX-IMESON JV LLC, is the landlord. Luke Pope of JLL represented the landlord in the lease negotiations. The tenant will fully occupy the property, which features tilt-up concrete construction, 36-foot clear heights, an ESFR sprinkler systems, LED lighting, 216 car parking spaces, 180 trailer parking spaces and two drive-in doors. RoadOne plans to implement improvements at the facility, including the addition of dock levelers to each of the 81 dock-high doors, fencing around the entire site, a guard shack and a 100,000-square-foot climate-controlled section. RoadOne is operating in the warehouse throughout the construction, which is scheduled for completion later this year.

February 19, 2024

Development Florida Loans Office Southeast

CBRE Arranges $37.9M Construction Financing for New Jacksonville Jaguars Headquarters

by John Nelson February 16, 2024

JACKSONVILLE, FLA. — CBRE Capital Markets has arranged $37.9 million in construction financing for the development of the new Jacksonville Jaguars headquarters in Jacksonville. Philip Rachels and Jeff Kinney of CBRE secured the 10-year financing through First Horizon Bank on behalf of the borrower, Shipyards Office LLC, a subsidiary of Iguana Investments Florida LLC, an investment entity owned by Jaguars owner Shad Khan. Situated along East Bay Street and adjacent to EverBank Stadium, the football team’s home stadium, the office building will total 143,000 square feet across six floors, including 9,670 square feet of ground-level retail space. The Jaguars will lease three floors of the building, with two of the remaining floors marketed for lease. An affiliate of the Jaguars will occupy and operate a portion of the ground floor as a fitness facility. A construction timeline was not disclosed.

February 16, 2024

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