Florida

PCCP Provides $245.8M in Financing for Eight Industrial Buildings in Pennsylvania, Florida

by Taylor Williams September 22, 2025

LOS ANGELES — Los Angeles-based PCCP LLC has provided $245.8 million in financing for eight industrial buildings in Pennsylvania and Florida. Six of the buildings are located in Central Pennsylvania, and the other two are located along the I-4 corridor in Florida. PCCP packaged the funds within three senior loans, proceeds of which will be used to refinance existing debt. The eight buildings are concentrated within three industrial developments. The borrower is CBRE Investment Management, and the loans were placed by Scott Lewis, Matt Ballard, Christine Dierker and Brooke Kellam of CBRE. In the first transaction, PCCP provided a $142.4 million loan for Capital Logistics Center in Middletown, Pa. The development consists of six buildings that were constructed between 1970 and 2018 and range in size from 115,890 to 400,060 square feet. Buildings feature an average clear height of 32 feet and a combined 147 dock doors, 10 drive-in doors, 649 car parking spaces and 129 trailer parking stalls. Capital Logistics Center was 92 percent leased at the time of the loan closing. In the second deal, PCCP provided a $70 million loan for Centerstate Logistics Center, a 1 million-square-foot development in Lakeland, Fla. Delivered in 2021, Centerstate Logistics Center …

September 22, 2025

Florida Loans Retail Southeast

MMCC Arranges $3.9M Refinancing for Shopping Center in Clermont, Florida

by John Nelson September 18, 2025

CLERMONT, FLA. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $3.9 million loan for the refinancing of a 15,520-square-foot retail strip center located at 9350 U.S. 192 in Clermont, 26 miles southwest of Orlando. Tenants at the property include several restaurants, a healthcare office and a tattoo parlor. Garrett Fierstein of MMCC’s Orlando office secured the financing through a national credit union on behalf of the privately based borrower. The loan features a 10-year term with a 25-year amortization period and a 65 percent loan-to-value ratio.

September 18, 2025

Acquisitions Florida Retail Southeast

JLL Brokers $118.5M Sale of Whole Foods-Anchored Shopping Center in Boca Raton, Florida

by John Nelson September 17, 2025

BOCA RATON, FLA. — JLL Capital Markets has brokered the $118.5 million sale of Uptown Boca, a 194,927-square-foot shopping center located at 9536-9704 Glades Road in Boca Raton. Whole Foods Market anchors the property, which was fully occupied at the time of sale to tenants including Life Time Fitness, REI, HomeSense and Sephora. Danny Finkle, Jorge Portela and Kim Flores of JLL represented the seller, a joint venture between Schmier Property Group, Giles Capital Group, Rosemurgy Properties and Wheelock Street Capital. The buyer was Stockbridge Capital Group. Uptown Boca also features 456 luxury apartment units that were not included in the transaction.

September 17, 2025

Acquisitions Florida Hospitality Southeast

Rockpoint, Newbond Holdings Purchase 309-Room Westin Tampa Hotel

by John Nelson September 16, 2025

TAMPA, FLA. — Rockpoint and Newbond Holdings have acquired Westin Tampa Waterside, a waterfront hotel in downtown Tampa. The seller and sales price were not disclosed. The 309-room property is situated on a 1.5-acre site and is the only hotel on the city’s Harbour Island. Westin Tampa is within walking distance of the Tampa Convention Center, Water Street District, Sparkman Wharf and the University of Tampa. Amenities include a fitness studio, heated outdoor pool, multiple dining and bar options and meeting and social event space. Rockpoint and Newbond Holdings plan to renovate Westin Tampa’s guest rooms, lobby and meeting space.

September 16, 2025

Acquisitions Florida Retail Southeast

CORE Acquires 260,000 SF Cortez Plaza Shopping Center in Bradenton, Florida

by John Nelson September 16, 2025

BRADENTON, FLA. — An affiliate of Miami-based CORE Investment Management has acquired Cortez Plaza, a 260,000-square-foot shopping center in Bradenton. The seller and sales price were not disclosed, but the Business Observer reported that an affiliate of Richmond-based Hackney Real Estate Partners sold the property for $39.4 million. Cortez Plaza’s tenant roster includes LA Fitness, Sprouts Farmers Market and Burlington, along with newly developed outparcels occupied by Chick-fil-A and Starbucks Coffee.

September 16, 2025

Florida Leasing Activity Office Southeast

CP Group Signs Leases With Five Tenants at One Biscayne Tower in Downtown Miami

by Abby Cox September 15, 2025

MIAMI — CP Group has signed leases with five tenants totaling nearly 70,000 square feet at One Biscayne Tower, a 692,000-square-foot office tower situated in downtown Miami. FTI Consulting; Nelson Mullins Riley & Scarborough LLP; and Young, Bill, Boles, Palmer, Duke & Thompson renewed their current leases. Meanwhile, Alvarez & Marsal Tax LLC signed a new 23,092-square-foot lease and Filler Rodriguez LLP signed a new 2,437-square-foot lease. Juan Ruiz and Alex Marquez of Blanca Commercial Real Estate represented CP Group in all five lease deals. The tenant representatives included: Kevin Landers and David Dusek of Cushman & Wakefield (for Alvarez & Marsal Tax LLC); Keith Edelman of CBRE (Filler Rodriguez LLP); Chris Harak of Blanca (Nelson Mullins Riley & Scarborough LLP); Elizabeth Balch of Colliers (FTI Consulting); and Andrew Easton of Easton Group (Young, Bill, Boles, Palmer, Duke & Thompson). CP Group recently completed a multimillion-dollar capital renovation at One Biscayne Tower that included a new conference facility and fitness club and upgrades to the building café and convenience store, as well as a nearly 2,600-square-foot renovated lower-lobby eatery and lounge that is leased to the wellness-focused dining concept Heal.

September 15, 2025

Florida Market Reports Multifamily Southeast Southeast Market Reports

Orlando Multifamily Poised for Strong Second Half of 2025, Momentum Heading Into 2026

by John Nelson September 15, 2025

Orlando’s multifamily investment market hit an inflection point in the first half of 2025. Insurance rates and construction starts tapered, and we’ve started to see cap rate compression and signs of rent growth. Our traditional, “household name” and institutional multifamily buyers are back in the market and at the top of the bid sheet. Additionally, investors are showing a strong interest in and appetite for build-to-rent (BTR) communities as that subsector continues to gain favor. It’s a significant improvement from where we were, coming off the post-pandemic roller coaster ride that saw record years for multifamily investment and pricing in 2021 and 2022 followed by interest rate spikes, cap-rate spikes and all coinciding with higher construction costs, skyrocketing insurance costs and a supply glut. Of course, Orlando is one of the fastest growing metros in the United States, so new multifamily supply is certainly needed as the region grows in terms of population and affluence. Orlando’s population is expected to hit 3 million this year, with the metro area adding 1,500 new residents per week, according to the Census Bureau. What’s more, year-over-year median household income grew 3.6 percent year-over-year. It’s no surprise that the region continues to rank among …

September 15, 2025

Development Florida Hospitality Loans Multifamily Southeast Top Stories

Two Roads Development Receives $520M in Construction Financing for Downtown Tampa Hotel, Residential Project

by Taylor Williams September 15, 2025

TAMPA, FLA. — South Florida-based Two Roads Development has received $520 million in construction financing for Pendry Tampa and Pendry Residences Tampa, a hospitality and residential project that will be located in the city’s downtown area. Pendry is a luxury hospitality operating platform and a division of California-based Montage International. New York City-based Sculptor Capital Management and Connecticut-based Nuveen Green Capital provided the financing. The latter’s $290 million contribution came in the form of Commercial Property Assessed Clean Energy (C-PACE) financing. “We are thrilled to have closed the largest C-PACE transaction in history, partnering with Two Roads Development and Sculptor Capital on this transformative luxury property that will redefine Tampa’s skyline,” says Ryan Doyle, senior director of originations at Nuveen Green Capital. “This historic milestone showcases the growing sophistication and scale of C-PACE financing and its capacity to support major developments.” “Awareness of what’s happening in the Tampa Bay region is growing each year, and we received tremendous interest from across the nation to finance this development,” adds Taylor Collins, managing partner of South Florida-based Two Roads Development. Designed by Arquitectonica with interiors by Studio Munge, Pendry Tampa and Pendry Residences Tampa will be housed within a 38-story high-rise building …

September 15, 2025

Florida Multifamily Southeast

CGI+ Real Estate Sells 275-Unit Park Place Apartment Community in Oviedo, Florida

by Abby Cox September 12, 2025

OVIEDO, FLA. — Woodland Hills, Calif.-based CGI+ Real Estate Investment Strategies has sold Park Place, a 275-unit, garden-style apartment complex situated with the 108-acre master-planned community of Park Town Center in Oviedo. The buyer, RMR Residential, has rebranded the complex to ATRIUM at Oviedo Park. CGI+ Real Estate originally acquired the former Park Place in 2021 for nearly $70 million after a fire destroyed two buildings and two amenity areas. In collaboration with Fogelman, CGI+ Real Estate rebuilt 33 apartment homes and developed 2,642 square feet of community space occupied by Crazy Cork Wine Bar and a Bruster’s ice cream shop. Originally built in 2015, ATRIUM features one-, two- and three-bedroom floorplans ranging in size from 757 square feet to 1,275 square feet, according to Apartments.com. Amenities include a swimming pool, fitness center, basketball/pickleball court, pet washing station and a lounge.

September 12, 2025

Acquisitions Florida Hospitality Southeast

Trinity, Certares Sell 352-Room EAST Miami Hotel at Brickell City Centre to Blackstone

by John Nelson September 11, 2025

MIAMI — Funds managed by Trinity Investments and Certares Real Estate Management have sold EAST Miami, a 352-room hotel located within the $1.1 billion Brickell City Centre mixed-use development. Funds affiliated with Blackstone Real Estate purchased the hotel for an undisclosed price. Built in 2016, EAST Miami features guest rooms, 89 serviced apartments and Sugar, a rooftop bar and dining venue. Trinity Investments and Certares acquired the property in 2021 from Swire Properties, the master developer of Brickell City Centre. Swire Hotels continues to operate the hotel under the company’s EAST hospitality brand.

September 11, 2025

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