Aztec Group Arranges $102M Construction Loan for Rivr Lofts Apartments in Fort Lauderdale

FORT LAUDERDALE, FLA. — Aztec Group has arranged $102 million in construction financing for Rivr Lofts in Fort Lauderdale. Located in the Tarpon River Entertainment & Design District (TREDD) south of New River, Rivr Lofts will be a Class A high-rise housing 352 apartments. Square Mile Capital provided the loan to the developer, Moderno Development Group, which assembled the one-acre site in 2018 and obtained entitlements in 2021. The project team includes Moss Construction and Robert Mathias …

May 25, 2022Development, Florida, Loans, Multifamily, Southeast

CrossMarc, MCB Acquire Springs Plaza Shopping Center in Longwood, Florida for $19.6M

LONGWOOD, FLA. — Winter Park, Fla.-based CrossMarc Services and Baltimore-based MCB Real Estate have purchased Springs Plaza, a 64,753-square-foot shopping center in Longwood, about 15 miles north of Orlando. Faison Enterprises also provided equity for the $19.6 million acquisition. Casey Rosen and Dennis Carson of CBRE represented the seller, an affiliate of New York-based Apollo Global Management, in the transaction. The shopping center was built in 1979 and renovated in 2017. …

May 25, 2022Acquisitions, Florida, Retail, Southeast

Cushman & Wakefield Arranges 42,000 SF Office Lease at 800 Brickell in Miami

MIAMI — Cushman & Wakefield has arranged a 42,000-square-foot office lease at 800 Brickell, an office tower in Miami’s Brickell district. The tenant, IT management software provider Kaseya, is slated to officially move into the top three floors of the 15-story building next year. The 800 Brickell location will be Kaseya’s third office in Brickell. Tony Jones of Cushman & Wakefield represented Kaseya in the lease negotiations. The landlord is Naba Realty

May 24, 2022Florida, Leasing Activity, Office, Southeast

Prospect, Midtown Capital Begin Construction on 252-Unit Fort Lauderdale Apartment Tower

FORT LAUDERDALE, FLA. — Prospect Real Estate Development Group and Midtown Capital have begun construction on a new 252-unit apartment building in Fort Lauderdale. The property, Advantis Station Flagler Village, will include a seventh-floor amenity deck with a pool and unique features such as a large mural, art columns and sections framed by synthetic wood. Advantis Station at Flagler Village is one of several ventures between Prospect and Midtown Capital. The partnership also broke ground on …

May 23, 2022Development, Florida, Multifamily, Southeast

JLL Arranges 75,000 SF Office Lease in Miami for Medical Research Firm

MIAMI — JLL has arranged a 75,000-square-foot office lease at Quattro Miami, a four-building office park in the city’s Airport West submarket. The tenant, medical research firm Evolution Research Group (ERG), is relocating its South Florida regional headquarters to Quattro Miami from Hialeah. The move expands ERG’s office footprint by 45,000 square feet, according to JLL. The New Jersey-based firm leased four full floors at Quattro East, located at 700 NW 107th Ave. Doug Okun of JLL …

May 23, 2022Florida, Leasing Activity, Life Sciences, Office, Southeast

Aztec Group Arranges $81M Construction-to-Perm Loan for Metro Miami Mixed-Use Development

HIALEAH, FLA. — Aztec Group has arranged an $81 million construction-to-perm loan for the development of Residences and Shoppes of Highland, a mixed-use development underway in the Miami suburb of Hialeah. The developer/borrower is an affiliate of South Florida-based Dacar Management, a development firm led by Alberto Micha. An affiliate of New York Life Insurance Co. provided the non-recourse, fixed-rate loan, which has an initial three-year term and converts to a 27-year self-amortizing …

May 20, 2022Development, Florida, Loans, Mixed-Use, Multifamily, Retail, Southeast

JBM Brokers Sale of Two Luxury Florida Apartment Communities for $221.7M

ST. PETERSBURG, FLA. — JBM Institutional Multifamily has brokered the sale of two Class A multifamily communities in Florida: Ridgelake in Sarasota and The Reserve at Coconut Point in Estero. The combined sales price for both properties was $221.7 million. The buyer was not disclosed.Ridgelake is a 329-unit property located off Bee Ridge Road and I-75. The property is an elevator-serviced, Class A community that features luxury finishes such as a dedicated solar farm that powers the …

May 19, 2022Acquisitions, Florida, Multifamily, Southeast

MG Developer, Baron Property Group to Build $204M Luxury Multifamily Project in Coral Gables, Florida

CORAL GABLES, FLA. — A partnership between MG Developer and Baron Property Group has announced plans for Merrick Parc, a $204 million, two-tower luxury multifamily project located at 3191 SW 39 Ave. in Coral Gables. Designed by Behar & Font, the 43,785-square-foot community will offer 450 rental units in one- and two-bedroom configurations alongside ground-floor retail space. The development site is located four miles from Miami International Airport and five miles away from downtown …

May 19, 2022Development, Florida, Multifamily, Southeast, Top Stories

Mesa West Provides $135M Acquisition Loan for Sophia at Abacoa Apartments in South Florida

JUPITER, FLA. — Mesa West Capital has provided a $135 million acquisition loan for The Sophia at Abacoa, a 390-unit multifamily community in Jupiter. Matt Williams and James Maynard of Newmark arranged the loan on behalf of the borrower, Berkshire Residential Investments.Located in the Abacoa neighborhood, Sophia at Abacoa was built in 2002 and offers a variety of one-, two- and three-bedroom floor plans housed in low-rise residential buildings on a 22-acre site. The property features a …

May 18, 2022Acquisitions, Florida, Loans, Multifamily, Southeast

Pacific Western, Square Mile Provide $93M Loan for Student Housing Project Near University of Florida

GAINESVILLE, FLA. — Pacific Western Bank and Square Mile Capital have provided a $93 million construction loan for Theory Gainesville, an 861-bed student housing community underway within a half-mile from University of Florida. Pacific Western was the primary lender, and Square Mile was the mezzanine capital provider. The borrower and developer is Blue Vista Capital Management, a Chicago-based entity that has a student housing affiliate, PeakMade Real Estate. Blue Vista expects to deliver …

May 17, 2022Development, Florida, Loans, Southeast, Student Housing

Aztec Group Arranges $102M Construction Loan for Rivr Lofts Apartments in Fort Lauderdale

CrossMarc, MCB Acquire Springs Plaza Shopping Center in Longwood, Florida for $19.6M

Cushman & Wakefield Arranges 42,000 SF Office Lease at 800 Brickell in Miami

Prospect, Midtown Capital Begin Construction on 252-Unit Fort Lauderdale Apartment Tower

JLL Arranges 75,000 SF Office Lease in Miami for Medical Research Firm

Aztec Group Arranges $81M Construction-to-Perm Loan for Metro Miami Mixed-Use Development

JBM Brokers Sale of Two Luxury Florida Apartment Communities for $221.7M

MG Developer, Baron Property Group to Build $204M Luxury Multifamily Project in Coral Gables, Florida

Mesa West Provides $135M Acquisition Loan for Sophia at Abacoa Apartments in South Florida

Pacific Western, Square Mile Provide $93M Loan for Student Housing Project Near University of Florida

Recent Features

Rising Interest Rates and Inflation to Fuel Change in Property Markets

Build-to-Rent Planning and Entitlements: How to Avoid Challenges

Student Housing is Growing on Institutional Investors’ Radars, Say InterFace Panelists

Retail Real Estate is All About Creating the ‘Place to Be’

SIOR: Minimal Availability, Rising Construction Costs Dampen Industrial Brokers’ Confidence

Recent Market Reports

Residential Development Nears Cyclical Peak Across RGV Markets

Atlanta Multifamily Sales Market Downshifts from ‘White Hot’ to ‘Hot’

Mixed-Use Owners in Northeast Face Retail Tenancy Dilemma

Office Designs, Layouts Look Different in Post-Pandemic Marketplace

Rio Grande Valley Retail Market Sees No Shortage of Demand from National Brands

Finance Insight 2022

Factors Compressing Affordable Housing Pipeline in 2021 Likely to Resolve in 2022

Web-Based Appraisal Tool Supports Massive Increase in Demand for Multifamily Valuations

Multifamily Investment to Expand into Secondary, Tertiary Markets in 2022

Multifamily Financing Outlook Positive Despite Volatility, Interest Rates

Growth of Affordable Housing Delayed by Approval Process Slowdowns, Supply Chain

Web-Based Multifamily Valuation Enhances Speed, Builds Better Predictions

Investment, Financing in Seniors Housing Driven by Property Performance

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