Altman Breaks Ground on 449-Unit Apartment Community in Tampa

TAMPA, FLA. — Altman Cos. has broken ground on Altís Grand at Suncoast, a 449-unit apartment community in Tampa. Rockpoint Group provided equity for the project, and PNC Bank provided debt. Construction is slated for completion by 2023. Altís Grand at Suncoast will offer one-, two- and three-bedroom floor plans. Unit features include bathrooms equipped with dual sink vanities, a soaking tub, quartz countertops, 39-inch cabinets, frontload washers and dryers, stainless steel and …

CBRE Arranges $26.4M Sale of Industrial Site in Hialeah, Florida

HIALEAH, FLA. — CBRE has arranged the sale of North Dade Distribution, a 16.5-acre industrial site under development in Hialeah. Dallas-based Dalfen Industrial purchased the site for $26.4 million. Christian Lee, Chris Riley, José Lobón, Amy Julian and Royce Rose of CBRE represented the seller, Coconut Creek, Fla.-based Butters Realty, in the transaction. Slated to be completed in March 2023, North Dade Distribution will total 298,354 square feet. The rear-load warehouse will feature …

Integra, Constellation Group Trade Office Building in Miami Beach for $26.5M

MIAMI BEACH, FLA. — Miami-based Integra Investments, in partnership with Miami-based Constellation Group, has sold 1674 Meridian, a 31,979-square-foot office building in Miami Beach for $26.5 million or $828 price per square foot. The buyer was not disclosed. Integra Investments and Constellation Group acquired 1674 Meridian in August 2019 for $10.1 million. Over the course of their ownership, the firms completed building renovations including new HVAC systems, touchless elevators and …

Aztec Group Arranges $247.5M Financing for Downtown 5th Apartment Community in Miami

MIAMI — Aztec Group has arranged $247.5 million in debt financing for Downtown 5th, an apartment community in downtown Miami spanning 1,042 rental apartments and 13,261 square feet of retail space. Peter Mekras of Aztec Group arranged the financing on behalf of the developer, Miami-based Melo Group.Berkadia’s Miami office acted as seller-servicer for the Freddie Mac loan. The 10-year loan features a fixed interest rate and is full-term interest only.Downtown 5th opened for occupancy …

Carroll, PGIM Buy 12-Property Multifamily Portfolio Across Florida

ATLANTA AND NEWARK, N.J. — Atlanta-based Carroll, in partnership with Newark-based PGIM Real Estate, has bought 12 multifamily communities in Orlando, Sarasota, West Palm Beach and Fort Lauderdale totaling 3,976 units. All properties were acquired through Carroll’s latest institutional investment vehicle, Carroll Multifamily Venture VI LP. The sales price was not disclosed.Carroll will manage the properties, which include seven Orlando properties, three Sarasota-Bradenton communities, …

Cushman & Wakefield Arranges $315M Office Sale in Orlando

ORLANDO, FLA. — Cushman & Wakefield has arranged the $315 million sale of SouthPark Center, a 10-building suburban office park in Orlando totaling approximately 1.3 million square feet. PPF Real Estate, part of PPF Group, acquired the property. The property is located near John Young Parkway and Sand Lake Road. The property was sold for the highest amount ever for the office market in Orlando, according to the Orlando Business Journal.Mike Davis, Rick Colon, Rick Brugge, Dominic …

Square Mile Capital Provides $277.5M in Total Financing for Two Multifamily Properties in Fort Lauderdale

FORT LAUDERDALE, FLA. — New York-based Square Mile Capital Management LLC has provided two separate acquisition loans totaling $277.5 million for two downtown Fort Lauderdale multifamily properties: Las Olas Walk and 4 West Las Olas. Purvesh Gosalia of Newmark arranged the $174 million and $103.5 million loans on behalf of the buyer, Aventura, Fla.-based Cardone Capital.Orlando-based ZOM Living developed and sold Las Olas Walk, and a partnership between NCC Development and Elevate …

Related Group, Integra to Develop 354-Unit St. Regis Condo Project in Miami

MIAMI — Related Group and Miami-based Integra Investments have plans to develop St. Regis Residences, Miami, a two-tower condominium project in Miami’s Brickell district. New York City-based Robert A.M Stern Architects and New York-based Rockwell Group will oversee architecture and interior design, respectively. ONE Sotheby’s International Realty will be the project’s sales and marketing partner.St. Regis Residences, Miami will offer 354 residential units across both towers. The …

Avison Young Arranges $105M Sale of Mixed-Use Development Site in Miami

MIAMI — Avison Young has arranged the $105 million sale of approximately three acres called Biscayne Place in Miami for a future mixed-use development. Michael Fay, John Crotty, David Duckworth, Brian de la Fe and Berkley Bloodworth of Avison Young represented the seller, Midgard Group. Joel Rodriguez of Global Investments Realty represented the buyer, Miami-based Melo Group. Construction has not started and the development timeline was not disclosed.Melo Group plans to build apartments, …

Jamestown Completes Sale of 308-Unit Apartment Community in Metro Miami

SUNNY ISLES BEACH, FLA. — Atlanta-based Jamestown has completed the sale of Beach Place, a 308-unit apartment community in Sunny Isles Beach, about 19 miles north from Miami. A private buyer purchased the property for an undisclosed amount. Jaret Turkell, Roberto Pesant, Jose Mota and Omar Morales of Berkadia Institutional Solutions represented Jamestown in the sale.Beach Place features four, six-story buildings offering 213 one-bedroom units and 95 two-bedroom units averaging 900 square …

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