Wednesday, September 9, 2026
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DevelopmentFloridaHospitalityLoansSoutheast

IPA Arranges $75.1M Recapitalization for Monroe Hotel in Miami Beach

by John Nelson

MIAMI BEACH, FLA. — IPA Capital Markets, a division of Marcus & Millichap, has arranged the $75.1 million recapitalization of The Monroe Hotel, an 89-room luxury boutique hotel underway in Miami Beach. Situated in the city’s Faena District, the property is a $125.5 million redevelopment of 3010 Collins Ave. and is slated to open in 2027. The property will include a full-service restaurant and bar, rooftop bar and event venue, in-house recording studio, pool with outdoor dining space, spa, fitness center and private beach service provided by Boucher Brothers. The recapitalization included $44 million in C-PACE financing from Nuveen Green Capital, $24.8 million in construction debt from City National Bank, $6.3 million in bridge financing from Midland States Bank and historic tax credit equity financing from PNC Bank. Bobby Werhane and Scott Raasch of IPA Capital Markets arranged the financing package for the undisclosed borrower.

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DevelopmentFloridaMultifamilySoutheast

Eastwind Breaks Ground on 264-Unit Multifamily Development on Florida’s Space Coast

by John Nelson

MELBOURNE, FLA. — Eastwind Development has broken ground on The Aston at Longleaf, a 264-unit multifamily development in Melbourne, a city on Florida’s Space Coast. The 17-acre project will be situated on Preserve Drive. Eastwind previously secured a $45.5 million construction loan from TD Bank. The developer plans to deliver the first units in late 2027 and fully deliver the community by mid-2028. Amenities will include a 10,000-square-foot clubhouse, 24-hour fitness center, coworking lounge, multi-sport gaming simulator room, resort-style swimming pool, outdoor kitchen, firepit, yoga lawn and a dog park with an adjacent pet spa. The design-build team includes FaverGray, FK Architecture, Kimley-Horn, Innovations Design Group and R Shana Designs.

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Company NewsFloridaRetailSoutheast

EverBank Financial, WaFd Enter Into $3.9B Reverse Merger Transaction

by John Nelson

JACKSONVILLE, FLA. AND SEATTLE — EverBank Financial Corp., the Jacksonville-based parent company of EverBank NA, has entered into a $3.9 billion reverse merger transaction with WaFd Inc. (NASDAQ: WAFD), the Seattle-based parent company of WaFd Bank. Under the terms of the agreement, EverBank Financial will merge into WaFd Inc., the latter of which will continue as the resulting financial holding company. WaFd Inc. will remain publicly traded but will change its name to EverBank Financial Corp. and trade on the Nasdaq Stock Exchange under the ticker symbol “EVBK.” Upon closing of the holding company merger, WaFd Bank, which has more than 200 locations in the Western United States, will merge with and into EverBank NA, which has more than 40 locations in Florida, California and New York. Upon completion of the transaction, which is expected for early 2027, EverBank Financial’s investors, which include funds managed by Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street, Bayview Asset Management and TIAA, will collectively own approximately 59.2 percent of the pro forma combined company, with WaFd Inc. shareholders owning approximately 40.8 percent. EverBank CEO Greg Seibly will continue to serve as CEO of EverBank post-merger, and WaFd CEO Brent Beardall will serve …

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FloridaIndustrialMarket ReportsSoutheastSoutheast Market Reports

Orlando Industrial Demand Is Concentrating in the Right Places

by John Nelson

When it comes to Florida’s industrial real estate market, Orlando is often viewed as a single, high-growth distribution and operations hub. For those of us on the ground, however, the more important story is that the market is no longer moving uniformly. According to Colliers’ market reports for the second quarter of 2026, the Central Florida market reached approximately 253.6 million square feet of industrial and flex inventory, while industrial vacancy improved to 7.4 percent from 7.5 percent in the first quarter. Those figures point to stable fundamentals overall; however, the reality is that demand is becoming more concentrated in well-connected submarkets with established infrastructure and modern industrial inventory. This shift is most visible among owner-users and tenants seeking less than 100,000 square feet. For these companies, location affects labor access, delivery times and operating costs. Large regional distribution users still evaluate sites through a broader logistics lens, often considering service radiuses of 200 to 400 miles, while smaller and midsized occupiers place greater weight on immediate connectivity. Southeast Orange County Southeast Orange County remains Orlando’s strongest industrial submarket because of its transportation connectivity, established infrastructure and concentration of modern industrial space. Southeast Orange County recorded 240,815 square feet of …

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Doral-Marketplace
AcquisitionsFloridaRetailSoutheast

Cushman & Wakefield Negotiates $83M Sale of Whole Foods-Anchored Shopping Center in Doral, Florida

by Abby Cox

DORAL, FLA. — Cushman & Wakefield has negotiated the sale of Doral Marketplace, an 83,365-square-foot, newly constructed shopping center located in Doral, a western suburb of Miami. According to multiple media outlets, the property sold for $83 million. Whole Foods Market anchors the property, which was fully leased at the time of sale to tenants including Ulta Beauty, Shake Shack, J. Crew and Warby Parker. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, Atlanta-based SJC Ventures, in the transaction. The buyer is a high-net-worth family office advised by Lincoln Property Co.

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Sea-Harbor
AcquisitionsFloridaOfficeSoutheast

JLL Arranges Sale of 356,514 SF Office Building in Orlando

by Abby Cox

ORLANDO, FLA. — JLL Capital Markets has arranged the sale of Sea Harbor Office Center, a 356,514-square-foot office building located across from SeaWorld in Orlando. Robbie McEwan, Tucker Brooks and Jesse Jones of JLL represented the seller, Northridge Capital LLC, in the transaction. Duvalla Investments and Epoch Residential purchased the property for an undisclosed price. Originally built in 1984, the eight-story office building features a full-service cafeteria, fitness center, two separate lobbies and a five-story parking garage with 1,250 spaces, as well as an additional 380 surface parking spaces. The 14.2-acre site features Planned Development (PD) zoning that allows for future hotel and/or residential development.

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FloridaLoansMultifamilySoutheast

Newmark Arranges $215.8M Refinancing for Waypoint Multifamily Portfolio in Florida

by John Nelson

TAMPA, FLA. — Newmark has arranged $215.8 million in bridge financing for a five-property multifamily portfolio in Florida. Matthew Williams, Rob Wright, James Maynard and Kyle Schlitt of Newmark arranged the construction takeout financing through Benefit Street Partners on behalf of the borrower, Waypoint Residential. The 1,274-unit portfolio comprises newly constructed properties in Vero Beach, Port St. Lucie, Palm Bay, Davenport and Gainesville.

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AcquisitionsAlabamaFloridaGeorgiaIndustrialNorth CarolinaSouth CarolinaSoutheast

JLL Arranges Sale of 10.5 MSF Southeast Industrial Portfolio for EQT Real Estate

by John Nelson

CHICAGO — JLL has arranged the sale of a 10.5 million-square-foot industrial portfolio in the Southeast. EQT Real Estate is selling the 46-building portfolio to an affiliate of California-based LBA Realty for an undisclosed price. John Huguenard, Trent Agnew, Will McCormack and Tara Hagerty of JLL represented the seller in the transaction. Additionally, Kevin MacKenzie, Peter Thompson, Steven Klein and Chris Pratt of JLL arranged an undisclosed amount of acquisition financing through two national banks for the buyer. The sold portfolio features properties in 10 separate markets, including Charlotte and Greensboro, N.C.; Greenville-Spartanburg, S.C.; Atlanta and Savannah, Ga.; Tampa, Orlando and Jacksonville, Fla.; and Birmingham and Huntsville, Ala. The logistics facilities in the portfolio average 230,000 square feet in size, according to JLL.

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DevelopmentFloridaLoansMixed-UseMultifamilySoutheast

SCALE Lending Provides $245M Loan for First Phase of Upland Park Apartments in Miami

by John Nelson

MIAMI — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $245 million bridge loan for Phase IA of Upland Park, a $1 billion mixed-use development underway on 47 acres in Miami’s Sweetwater neighborhood. The transit-oriented project is a redevelopment of West Miami-Dade County’s former Dolphin Park-and-Ride/Transit Terminal Facility. The borrower and developer, Terra Group, will use proceeds of the loan to pay off the existing construction loan, which was also provided by SCALE Lending. The floating-rate loan features two six-month extension options. Terra expects to complete construction of the first phase, which comprises 578 apartments across five residential buildings, next month. The company has tapped Charleston-based Greystar as the property manager. Floorplans come in studio through three-bedroom configurations, with monthly rental rates ranging from $2,726 to $4,811, according to Apartments.com. Amenities will include pickleball courts, a dog park, bike storage, EV charging stations, swimming pools, lake access and a clubhouse featuring a theater, social lounges, a business center, fitness centers and a children’s playroom. The design-build team includes PPK Architects, master architect Arquitectonica and urban planner Plusurbia Design. At full completion, Upland Park will feature more than 2,000 apartments, a 126-room hotel, roughly 282,000 square …

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AcquisitionsFloridaMultifamilySoutheast

Fairfield Acquires 812-Unit Apartment Community in West Palm Beach from Cortland for $208M

by John Nelson

WEST PALM BEACH, FLA. — Fairfield, a multifamily owner-operator based in San Diego, has acquired Portofino Place Apartments in West Palm Beach. Atlanta-based Cortland sold the 812-unit property to Fairfield for $208 million, according to multiple media outlets. Located at 4400 Portofino Way in West Palm Beach, Portofino Place features one-, two- and three-bedroom layouts, as well as two-story loft residences. Amenities include four resort-style swimming pools, a 24-hour fitness center, yoga studio, pickleball and tennis courts, indoor basketball court, coworking space, dog park and multiple social and recreation areas. Walker & Dunlop arranged the financing and brokered the transaction, according to Fairfield.

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