STUART, FLA. — Walker & Dunlop has provided a $47.8 million Fannie Mae loan for the acquisition of Mason Stuart, a 270-unit apartment community located at 4585 S.E. Federal Highway in Stuart, a city in Southeast Florida’s Martin County. The borrower was Raia Capital Management. Craig West of Walker & Dunlop originated the fixed-rate, interest-only loan. Built in 2023, Mason Stuart features a mix of one-, two- and three-bedroom units, as well as a resort-style pool area, 24-hour fitness center with a yoga and spin room, an outdoor gathering pavilion, fenced dog park and multi-purpose walking trails.
MIAMI — Terra has completed the first phase of Centro City Residences, the multifamily component of the 38-acre Centro City mixed-use development in Miami’s West Little Havana neighborhood. Phase I features 470 apartments spread across three eight-story multifamily buildings located at 3830 N.W. 11th St., as well as 350,000 square feet of retail space anchored by a 100,000-square-foot Target store. Other retail tenants include Ross Dress for Less, DD’s, Fresco Y Mas, Walgreens and Bank of America. Leasing and move-ins are underway at Centro City Residences, which features a mix of studio, one- and two-bedroom apartments. Floorplans measure approximately 500 to 1,250 square feet in size, with monthly rental rates starting at approximately $2,400, according to Terra. Amenities include multiple pools with cabanas, barbecue grill areas, a children’s playground, dog park, lounges and game rooms. Terra obtained a $291 million financing package for the project earlier this year.
NORTH MIAMI, FLA. — The University of Miami Health System (UHealth) has opened UHealth SoLe Mia, a 363,000-square-foot outpatient medical facility in North Miami. The seven-story property is the largest ambulatory center in UHealth’s network. The property features the Sylvester Comprehensive Cancer Center, Bascom Palmer Eye Institute, Desai Sethi Urology Institute and a collaboration with musculoskeletal care provider Hospital for Special Surgery. Other specialties offered include neurology, neurosurgery, cardiology, endocrinology, gastroenterology, dermatology, otolaryngology and gynecology.
MIAMI — A partnership between The Easton Group, Lennar and MPKA LLC has proposed City Park at West Kendall, a $2 billion, 990-acre master-planned community in Miami. The development team has filed its application with Miami-Dade County. Plans call for 7,800 new homes in a variety of price points, including townhomes, multifamily units, single-family homes and workforce housing, as well as 1.4 million square feet of retail space and 500,000 square feet of office space. At the heart of the proposed project is Village Core, a walkable town center with shops, restaurants, entertainment, plazas and a boardwalk. With the development application filed, the next step involves collaborating with local neighbors, government officials and community stakeholders to fine-tune the plan, according to Bill Albers, partner with MPKA, which is a consultant to the homebuilding industry. City Park is expected to generate $2.4 billion in annual economic output for the county. The project is also estimated to create more than 19,000 construction jobs during build-out followed by more than 13,000 permanent jobs. By reducing the need for daily commutes to job centers like downtown, Brickell, Doral and Coral Gables, City Park will also help reverse traffic patterns and ease congestion that has …
MIAMI — JLL Capital Markets has arranged the $62.1 million sale of Red Bird Center, a 92,089-square-foot retail center located at the intersection of Bird and Red roads in Miami. Milam’s Markets, a regional grocer based in South Florida, anchors the property, which was fully occupied at the time of sale. Additional tenants at the center include Walgreens, Orion Fuels and Ace Hardware. Danny Finkle, Jorge Portela and Kim Flores of JLL’s Investment Sales and Advisory team represented the seller, Red Bird Associates, in the transaction. The buyer was Charlotte-based Asana Partners.
MIAMI — Affiliates of TREO Group have received $132 million in financing for VOX I and VOX II, a two-building student housing community located at 7025 and 7175 S.W. 59th Ave. near the University of Miami campus. Ocean Bank provided the financing for the 726-bed property. The community offers 262 units in one- through four-bedroom floorplans with bed-to-bath parity. Amenities include two rooftop terraces, swimming pools, five fitness areas, 20 study lounges and an outdoor summer kitchen. The property also features 15,682 square feet of retail space.
OCOEE, FLA. — Stonemont Financial Group has completed 429 Business Center, a 259,255-square-foot industrial complex located in Ocoee, roughly 10 miles outside Orlando near Walt Disney World. HGR Construction Inc. served as general contractor on the project. Cam Montgomery and Matt Sullivan of JLL are handling leasing efforts for 429 Business Center on behalf of Stonemont. 429 Business Center comprises seven buildings and features 20- to 32-foot clear heights, with rear- and front-load options. The facility is currently 49 percent preleased, with buildings 200 and 600 already fully occupied. Atlanta-based Stonemont owns more than 4.4 million square feet of industrial development across Florida and is nearing completion on a 100,698-square-foot facility near Tampa.
MIAMI — Mast Capital and AEW Capital Management have sold Remi on the River, a new 342-unit apartment community in the Miami River District. Valeris Capital purchased the property for an undisclosed price, though multiple media outlets are reporting the community traded for $108 million. Robert Given, Troy Ballard and Michael Mulkern of CBRE brokered the transaction. Situated along the Miami River, Remi on the River features studios, one-, two- and three-bedroom apartments ranging in size from 465 to 1,334 square feet. Designed by Corwil Architects, the community opened in 2024 and features a resort-style swimming pool, aqua lounge, fitness center, clubroom, access-controlled parking and a resident lounge with coworking spaces.
JACKSONVILLE, FLA. — American Landmark Apartments has acquired Rosemont St. Johns, a 420-unit apartment community located at 12310 Seacrest Lane in Jacksonville’s Southside neighborhood. Built in 2007, the property features a mix of one-, two- and three-bedroom apartments. Amenities include a resort-style swimming pool with a sundeck, clubhouse with resident lounge and entertainment kitchen, 24-hour fitness center, outdoor grilling and picnic areas and a dog park. The seller and sales price were not disclosed.
PEMBROKE PINES, FLA. — Marcus & Millichap has brokered the $25 million sale of Palm Square, a 77,621-square-foot shopping center located in Pembroke Pines, a city in South Florida’s Broward County. Kirk Olson and Drew Kristol of Marcus & Millichap represented the seller, Galium Capital, and procured the buyer, an affiliate of JBL Asset Management, in the transaction. Palm Square was 94 percent leased at the time of sale to tenants including Atlantic Montessori School, Goldfish Swim School, Smile Experts Dentistry, Florida Health Care and Fordham Fitness, as well as outparcels leased to Sherwin-Williams, Dunkin’ and KFC. Built in 1987, the shopping center last sold in 2019 for nearly $20.5 million, according to Olson.
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