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IPA Brokers $90.5M Sale of West Palm Beach Condos, Buyer Plans Multifamily Conversion

Abby Cox — Fri, 07 Aug 2026 14:31:09 +0000

WEST PALM BEACH, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $90.5 million sale of Pointe Verde Beach Lakes, a 400-unit condominium property located in West Palm Beach. Marcus & Millichap confirmed that the buyer, New Jersey-based apartment operator Kamson Corp., will convert the condos to market-rate apartments. Luke Wickham and Evan Kristol of Marcus & Millichap, along with Shelton Granade and Justin Basquill of IPA, represented Kamson in the transaction. The Ponte Verde at Palm Beach Lakes Condominium Association retained an affiliate of the Condominium Advisory Group LLC, led by John Cadden and Michael Fish, to serve as trustee on behalf of the selling entity. Situated adjacent to Bear Lakes Country Club, Point Verde at Palm Beach Lakes includes 24 two- and three-story residential buildings, along with a clubhouse. Amenities include two swimming pools, two racquetball courts and a dry sauna. The average unit size is 901 square feet.

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Richman Group Obtains Three Loans for Luxury Apartment Communities in Florida Totaling $225M

John Nelson — Tue, 04 Aug 2026 14:39:51 +0000

GREENWICH, CONN. — The Richman Group, a multifamily owner and operator based in Greenwich, has obtained loans for the refinancing of three luxury apartment communities in Florida totaling approximately $225 million. The deals include a $107 million loan via New York Life Investment Management (NYLIM) for The Marc in Palm Beach Gardens; a $72.5 million loan from NYLIM for Everly in Naples; and a $45.5 million loan from Reinsurance Group of America Inc. for Vista Sur in South Miami. All three loans are underwritten with 10-year terms, fixed interest rates and five years of interest-only payments. Each loan exceeds the amount of their original construction loans, according to The Richman Group.

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Minto Communities Sells Land in South Florida to Walmart for New Supercenter

John Nelson — Mon, 03 Aug 2026 14:17:39 +0000

WESTLAKE, FLA. — Minto Communities USA has sold a 24-acre parcel at Town Center West in Westlake, a master-planned community in South Florida’s Palm Beach County. The buyer, Walmart, plans to develop a 188,779-square-foot Walmart Supercenter at the site, including a separate convenience store and gas station. The sales price was not released. The new Walmart Supercenter will sit adjacent to a future Lowe’s Home Improvement store, which will also double as a regional headquarters for the North Carolina-based retailer. Minto sold that site to Lowe’s in January. Minto retains a large outparcel at Town Center West that the company will market for sale in the near future. The firm has sold approximately half of the holdings in Westlake that is approved for 2.2 million square feet of commercial development. Westlake has the capacity for 6,000 homes ranging in configurations between single-family homes, estate homes and townhomes, with prices starting in the $300,000s, according to Minto. Amenities at the master-planned community include Westlake Adventure Park, The Lodge and a 3,900-square-foot fieldhouse and event space that will open soon.

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Gateway Jax Signs Six Tenants at $1B Pearl Square Development in Downtown Jacksonville

John Nelson — Mon, 03 Aug 2026 14:09:40 +0000

JACKSONVILLE, FLA. — Gateway Jax has signed six new tenants to leases at Peal Square, a 2 million-square-foot mixed-use project in downtown Jacksonville. The initial retail lineup for Vandeveer, the first mixed-use residential building within the district, will feature dining, wellness and lifestyle retailers and restaurants on the ground floor. The newly announced tenants include Bar Citra (2,000 square feet), Buchner’s Biergarten (outdoor patio space and food truck), PopUp Bagels (1,443 square feet), Go Greek Yogurt (1,141 square feet), JETSET Pilates (2,495 square feet) and Pearl Street Nails (2,032 square feet). Buchner’s Biergarten and JETSET Pilates will open this fall, with additional tenant openings anticipated to continue through early 2027. The tenants join Publix, which will be the first new construction grocery store in the area in more than a decade, and Colletta, an Italian restaurant set to open within the newly restored Hotel Merrydelle, which is a redevelopment of the former Ambassador Hotel that will operate as a Tribute Portfolio by Marriott hotel. Designed by architects including Morris Adjmi, SK+I, Elkus Manfredi and Cecconi Simone, Pearl Square will introduce more than 1,250 new apartments across four residential buildings, including 205 units at Vandeveer; 100,000 square feet of office space;…

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Affiliated Development Receives $74M Loan for Mixed-Income Multifamily Development in Fort Lauderdale

Abby Cox — Fri, 31 Jul 2026 12:48:18 +0000

FORT LAUDERDALE, FLA. — Affiliated Development has received a $74 million construction loan for the development of The Cove, a 376-unit, mixed-income multifamily project located on the northwest corner of Sunrise Boulevard and Federal Highway in Fort Lauderdale. Pacific Life Insurance Co. provided the loan for the development, along with equity from the Affiliated Development Housing Impact Fund and family office capital partners. In addition, the developer secured tax rebates from Broward County and the City of Fort Lauderdale, as well as zoning priority and incentives via Florida’s Live Local Act. Moss Construction will serve as general contractor for The Cove. Situated on the site of a former hotel property, the $123 million multifamily project will reserve 55 percent, or approximately 207 apartments, for individuals and families earning up to 120 percent of the area median income (AMI). The Cove will also feature a resort-style amenity package and a parking garage.

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Terra, Turnberry Top Out 17-Story Grand Hyatt Miami Beach Hotel

John Nelson — Thu, 30 Jul 2026 13:25:14 +0000

MIAMI BEACH, FLA. — Terra and Turnberry, along with general contractor Balfour Beatty, have topped out Grand Hyatt Miami Beach, a 17-story, 800-room hotel underway in Miami Beach. The hotel tower will be connected to the newly renovated Miami Beach Convention Center via a climate-controlled sky bridge upon completion. Designed by Arquitectonica, Grand Hyatt Miami Beach will feature 12 floors of hotel rooms, as well as four floors of meeting and ballroom space totaling 110,000 square feet, including the 8,000-square-foot Grand Lawn on the fifth-floor amenity deck. The hotel will include a signature restaurant, lobby lounge and bar and 17,000 square feet of ground-level retail space, as well as two resort-style pools and a fitness center with a spa treatment room. The development team plans to deliver the hotel in late 2027. Last year, Terra and Turnberry secured $392 million in construction financing for the project.

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JLL Arranges $55.7M Loan for Portion of Midtown East Office Tower in Tampa

John Nelson — Thu, 30 Jul 2026 13:22:12 +0000

TAMPA, FLA. — JLL has arranged a $55.7 million loan for 143,354 square feet of office and retail space within Midtown East, an 18-story office tower in Tampa. The property was delivered in April 2025 and represents the third and final office tower within Midtown Tampa District, a 22-acre mixed-use campus that also features a Whole Foods Market, REI, Shake Shack, 700 apartments and an Aloft/Element hotel. Ed Coco, Evan Pariser, Lee Weaver and Matt Casey of JLL arranged the loan through Valley Bank on behalf of the borrower, a 50/50 joint venture between Highwoods Properties and The Bromley Cos. The office floors owned by the borrower at Midtown East were fully leased at the time of financing to tenants in the professional services, technology, staffing, real estate and insurance sectors. The financing also covered the ground-floor retail space that is ideally suited for a future restaurant. Tampa Electric Company, a subsidiary of TECO Energy, owns 11 floors of the building that were not included in the refinancing.

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Capstone Begins Construction on 270-Unit Gateway Apartments in Orlando

John Nelson — Wed, 29 Jul 2026 13:28:36 +0000

ORLANDO, FLA. — Capstone Building Corp. has begun construction on The Gateway, a 270-unit luxury apartment community located at 7250 Shadowridge Drive in Orlando. The design-build team includes developer JBL Development LLC and architect Baker Barrios Architects. Located near Airport Lakes Park, the five-story, gated community features smart studio, junior one-bedroom, and one-, two- and three-bedroom floorplans. Amenities will include a heated saltwater pool with private cabanas, outdoor kitchens and fire pits, indoor and outdoor coworking lounges, a fitness center with outdoor fitness equipment, pickleball court, bark park, pet spa and a clubhouse featuring a restaurant and bar, market, tenant kitchen and leisure spaces. The development team expects to deliver The Gateway in late 2027.

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JLL Arranges Sale of 2.4 MSF Industrial Portfolio in Florida, Georgia

John Nelson — Tue, 28 Jul 2026 14:33:45 +0000

MIAMI — JLL has arranged the sale of a three-property industrial portfolio spanning 2.4 million square feet in Florida and Georgia. EQT Real Estate purchased the portfolio from the undisclosed seller. The sales price was also not disclosed. The properties in the portfolio include a 605,412-square-foot facility in Lakeland, Fla., an 817,680-square-foot property in Jacksonville and a 1 million-square-foot building in Pooler, Ga., a suburb of Savannah. Built in 2015 on average, the fully leased properties feature 34-foot average clear heights and a variety of dock configurations. John Huguenard, Trent Agnew, Will McCormack, Cole Johnston, Tara Hagerty, Britton Burdette, Luis Castillo, Pete Pittroff, Jim Freeman, Cody Brais and Dave Andrews of JLL represented the seller in the transaction.

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FRP Acquires 24 Acres in Broward County, Plans 300,000 SF Logistics Development

Abby Cox — Mon, 27 Jul 2026 13:44:57 +0000

SOUTHWEST RANCHES, FLA. — FRP Development Corp. has acquired 24 acres in Southwest Ranches, a town in South Florida’s Broward County. FRP plans to develop Logistics Center at Southwest Ranches, a planned 300,000-square-foot industrial facility, at the site. The project is expected to include 36-foot clear heights, dock-high loading, expansive truck courts, trailer parking and flexible configurations, and will be designed to serve logistics, manufacturing and regional distribution users. Completion of the development is anticipated for 2028. Further details of the timeline were not disclosed. Tenants at Logistics Center at Southwest Ranches will have nearby access to Port Everglades, Port Miami, Miami International Airport, Fort Lauderdale-Hollywood International Airport and the Florida East Coast Railway’s intermodal network.

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SRS Real Estate Brokers $7.9M Sale of Retail Strip Center in Wesley Chapel, Florida

Abby Cox — Mon, 27 Jul 2026 13:42:00 +0000

WESLEY CHAPEL, FLA. — SRS Real Estate Partners has brokered the $7.9 million sale of Promenade, a three-tenant retail property located in Wesley Chapel, roughly 24 miles north of downtown Tampa. Built in 2025, the 9,222-square-foot property was fully leased at the time of sale to Heartland Dental, GoodVets and Ann’s Salon & Spa. William Wamble, Patrick Nutt and Connor Barton of SRS represented the seller, a Florida-based developer and investor, in the transaction. The all-cash buyer was a Florida-based investor.

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Merritt Properties Acquires 11-Building Industrial Park in Jacksonville

Abby Cox — Fri, 24 Jul 2026 15:07:03 +0000

JACKSONVILLE, FLA. — Merritt Properties has acquired Center Point Business Park, an 11-building, 537,800-square-foot light industrial park located in Jacksonville’s Butler corridor near the Florida East Coast Railway. According to the Jacksonville Business Journal, Merritt Properties purchased the campus for $89.8 million. This latest office park acquisition marks Merritt’s first major transaction after receiving a $750 million investment led by Centerbridge Partners to boost its long-term growth strategy. Royce Rose and Justin Rabin of CBRE represented the seller, Plymouth REIT, in the transaction. Spencer Cummings and Cassidy Bergstrom led Gunster’s legal team in representing Merritt Properties. Situated at 4801-6631 Executive Park Court, Center Point Business Park was 99 percent leased at the time of sale to 35 tenants. The property features 18- to 22-foot clear heights, rear-load configurations, dock-high loading, concrete tilt-wall construction, 107 dock doors and 1,005 parking spaces. On average, tenant spaces are approximately 15,100 square feet. In addition to its existing portfolio, Merritt owns land at Imeson Landing Business Park and Oakleaf Commerce Center in Jacksonville, where future light industrial development is planned.

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Space Shop Underway on Three Self-Storage Properties in Florida, Virginia Totaling 2,088 Units

John Nelson — Thu, 23 Jul 2026 13:48:09 +0000

ATLANTA — Space Shop Self Storage has three self-storage properties underway in Florida and Virginia totaling 2,088 units. With these projects, the Atlanta-based firm is nearing 80,000 units under management across more than 100 facilities. The newly announced properties include a 715-unit facility located at 134 Mason Ave. in Holly Hill, Fla.; a 668-unit property at 480 Cogan Drive SW in Palm Bay, Fla.; and a 705-unit facility located at 10265 Lakeridge Parkway in Glen Allen, Va. The projects span a combined 297,000 square feet and represent a total investment of $40 million. Space Shop plans to deliver all three properties in spring 2027.

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Partnership Breaks Ground on Apartment Tower, Marriott Hotel in Downtown West Palm Beach

John Nelson — Wed, 22 Jul 2026 14:01:12 +0000

WEST PALM BEACH, FLA. — A partnership comprising LD&D, IGEQ and FrontRange Capital Partners has broken ground on a 21-story apartment tower and hotel in downtown West Palm Beach. The properties, the 181-unit Alida Residences and the 112-room Tribute Portfolio hotel by Marriott, will be developed simultaneously as separate residential and hospitality properties. The developers assembled the three parcels for the two buildings in 2019. The site is located directly adjacent to a Brightline station and near the future campus for Vanderbilt University. Alida Residences will offer a mix of studio, one-, two- and three-bedroom units ranging in size from 500 to 2,000 square feet, as well as a rooftop pool deck on the 21st floor. Both Alida Residences and the Tribute Portfolio hotel by Marriott are expected to open in 2028.

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TSCG Arranges $20.7M Sale of Publix-Anchored Shopping Center in Jacksonville

John Nelson — Wed, 22 Jul 2026 13:58:00 +0000

JACKSONVILLE, FLA. — TSCG has brokered the $20.7 million sale of The Plaza at Normandy, a Publix-anchored shopping center located at the intersection of Normandy Boulevard and Chaffee Road South in Jacksonville. An unnamed 1031 exchange buyer purchased the 58,691-square-foot center from the developer, Wagner Property Group. Anthony Blanco, Mallory Silva and Spencer Kinsella of TSCG represented the seller in the transaction, and Laurie Ann Drinkwater of Marcus & Millichap represented the buyer. Built in 2024, The Plaza at Normandy was fully leased at the time of sale to Publix, Publix Liquor Store, Xtreme Wings, Hair Cuttery, Nail Art Studio & Spa, The UPS Store and AT&T Wireless. The shopping center includes outparcels for McDonald’s and Wawa that were not part of the sale.

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Mavis Tire Agrees to Acquire Pep Boys from Icahn Enterprises for $700M

Kristin Harlow — Wed, 22 Jul 2026 12:00:00 +0000

WHITE PLAINS, N.Y. AND SUNNY ISLES BEACH, FLA. — Mavis Tire Express Services Corp. and Icahn Enterprises LP (NASDAQ: IEP) have entered into a definitive agreement under which a subsidiary of Mavis will acquire Pep Boys from Icahn Automotive Group LLC for approximately $700 million in cash. IEP will retain the owned real estate previously transferred to IEP from Pep Boys, as well as the AAMCO Transmissions and Precision Tune Auto Care businesses. Formally named The Pep Boys-Manny, Moe & Jack Holding Corp., Pep Boys is an automotive service company offering tires, repairs, oil changes and maintenance services from nearly 800 retail locations nationwide. Navy veterans Emanuel “Manny” Rosenfeld, Maurice “Moe” Strauss and Graham “Jack” Jackson founded the company in 1921. According to Mavis, the acquisition expands its presence in new and existing markets, particularly across the Western United States where Pep Boys maintains a significant retail footprint. The deal grows Mavis’ network to more than 4,400 service center locations across the United States and Canada. “Pep Boys brings a loyal customer base, deep-rooted market presence across the United States and a distribution network that will meaningfully enhance our supply chain nationwide,” says David Sorbaro, co-CEO of Mavis. “As part…

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JLL Secures $24M Refinancing for Student Housing Property Near University of Florida

John Nelson — Tue, 21 Jul 2026 13:38:40 +0000

GAINESVILLE, FLA. — JLL Capital Markets has secured a $24 million refinancing for The Row, a 182-bed student housing property located at 407 S.W. 13th St. near the University of Florida campus in Gainesville. Melissa Rose, Mike Brady and Christian Johnston of JLL represented the borrower, The Ardent Cos., in arranging the three-year, floating-rate loan through GID. The seven-story community offers shared amenities including a resort-style deck and reflective pool, fitness center and collaborative and independent study areas on each floor. The property also features 4,315 square feet of ground-floor retail space.

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JLL Secures $176.6M Construction Loan for Student Housing Development Near University of Central Florida

Abby Cox — Mon, 20 Jul 2026 14:20:41 +0000

ORLANDO, FLA. — JLL Capital Markets has secured a $176.6 million construction loan for The Place at Alafaya, a 1,395-bed student housing development located at 11600 MacKay Blvd. near the University of Central Florida (UCF) campus in Orlando. Mona Carlton, Elliott Throne, Joshua Odessky, Michael Romero, JJ Hovenden and Luke Maganas of JLL secured the financing on behalf of the borrower, Beachwold Residential. Upon completion, The Place at Alafaya will offer 484 units with bed-to-bath parity across three four-story buildings. The property will also feature a standalone, three-story clubhouse spanning 16,000 square feet. Amenities will include a resort-style swimming pool; fitness center with a cold plunge and sauna; private study rooms; pickleball and basketball courts; and a game lounge. A timeline for the development was not released.

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JLL Negotiates $67.7M Sale of Three Industrial Buildings in Lakeland, Florida

Abby Cox — Fri, 17 Jul 2026 13:27:55 +0000

LAKELAND, FLA. — JLL Capital Markets has negotiated the $67.7 million sale of three industrial buildings located within Lakeland Commerce Center in Lakeland, a city in Central Florida between Tampa and Orlando. Cody Brais, John Huguenard, Luis Castillo, Taylor Osborne, David Orta Jr. and Mia Gian of JLL represented the seller, Atlanta-based Stonemont, in the transaction. MDH Partners, also based in Atlanta, was the buyer. Positioned along the County Line Road corridor between I-4 and Lakeland Linder International Airport, Lakeland Commerce Center Buildings 100, 200 and 300 are three newly constructed, rear-load industrial buildings totaling 557,100 square feet. The property provides same-day delivery access to Florida’s residents, as well as logistics services throughout the Southeastern United States. Lakeland Commerce Center spans four buildings. MetLife purchased the fourth building, the 348,740-square-foot Building 400, for $50 million in March 2025.

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Robins & Morton Tops Out $563M BayCare Hospital Manatee in Palmetto, Florida

John Nelson — Thu, 16 Jul 2026 15:14:07 +0000

PALMETTO, FLA. — General contractor Robins & Morton has topped out BayCare Hospital Manatee, a $563 million hospital underway in Palmetto, a city in Southwest Florida’s Manatee County. Situated one mile from the junction of I-75 and I-275, the 450,000-square-foot hospital will offer 154 beds in private patient rooms. Gresham Smith designed the hospital as well as the adjacent BayCare HealthHub clinic on behalf of BayCare. The Florida-based healthcare system plans to open BayCare Hospital Manatee, its 17th hospital, in 2028. The BayCare HealthHub facility is expected to open later this year.

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