Monday, June 16, 2025
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AcquisitionsFloridaGeorgiaRetailSoutheast

Jamestown Acquires Two Shopping Centers in Metro Atlanta, South Florida

by John Nelson

SANDY SPRINGS, GA. AND TAMARAC, FLA. — Atlanta-based Jamestown has purchased two grocery-anchored shopping centers in metro Atlanta and South Florida totaling approximately 284,000 square feet. The acquired properties include Fountain Oaks, a 160,000-square-foot, Kroger-anchored center in Sandy Springs, and Tamarac Town Square, a 124,000-square-foot, Publix-anchored center in Tamarac. The properties were 92 percent and 84 percent leased at the time of sale, respectively. JLL represented Edens in the sale of Fountain Oaks and Regency Centers in the sale of Tamarac Town Square. The sales prices were not disclosed. The acquisitions expand Jamestown’s grocery-anchored shopping center portfolio to nine properties totaling approximately 1.4 million square feet, all of which are in Georgia and Florida. The company plans to introduce property-wide Wi-Fi, electric vehicle charging stations, murals and outdoor open space at both centers. Jamestown has owned and operated more than 4.6 million square feet of grocery-anchored shopping centers in over 15 markets since 1990.

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DevelopmentFloridaMultifamilySoutheastTop Stories

The Estate Cos. Completes 23-Story Soleste NoMi Beach Luxury Apartment Tower in North Miami Beach

by Kristin Harlow

NORTH MIAMI BEACH, FLA. — The Estate Cos. (EIG) has completed Soleste NoMi Beach, a 23-story luxury apartment tower located on Biscayne Bay in North Miami Beach. The 685,957-square-foot project consists of 367 units as well as 4,460 square feet of indoor and outdoor commercial space that will house Uma Cantina Peruana, a Peruvian fine dining restaurant. Residents have access to a ninth-floor, resort-style pool with a sundeck and cabanas as well as a waterfront promenade and putting green. Additional amenities include a 24-hour health club with a motion studio offering on-demand fitness classes, as well as the Zen Suite, which features a sauna, steam room, rain shower and massage therapy room. A tech lounge is equipped with coworking stations and conference spaces. Residents also have access to a social club, gaming lounge, sky lounge with grills, pet spa, toddler playroom, cinema room and podcast studio. Units come in one-, two- and three-bedroom layouts and range in size from approximately 700 to 1,230 square feet. There are also loft-style townhomes. Monthly rents start at $2,710. The 1.8-acre waterfront property is near beaches, the 1,043-acre Oleta River State Park, Aventura Mall and Bal Harbour Shops. EIG is also developing Soleste NoMi …

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AcquisitionsDevelopmentFloridaMultifamilySoutheast

Marcus & Millichap Brokers $10M Sale of Multifamily Development Site in Miami

by John Nelson

MIAMI — Marcus & Millichap has brokered the $10 million sale of a fully approved multifamily development site at 315 N.W. 27th Ave. in Miami’s Little Havana neighborhood. The buyer, an entity doing business as Astor Acquisitions LLC, plans to develop an apartment community on the 1.2-acre site called 315 Urban Flats. Eddie Toledo and Jonathan De La Rosa of Marcus & Millichap’s Miami office represented the sellers, Frank Lopez and Pedro Munilla, in the land sale. 315 Urban Flats is approved for 179 apartments across eight floors comprising studios, one-, and two-bedroom units. Amenities will include ground-floor retail spaces, a swimming pool, fitness center and a parking garage. The construction timeline was not disclosed.

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DevelopmentFloridaHealthcareSoutheast

BayCare Health to Break Ground on $548M Hospital in Sarasota, Florida

by John Nelson

SARASOTA, FLA. — BayCare Health System plans to break ground on a new $548 million hospital in Sarasota, a city in west-central Florida’s Manatee County. Named BayCare Hospital Manatee, the hospital will feature 154 beds in private patient rooms and include a 45,000-square-foot medical arts building. The property will sit one mile north of the I-75 and I-275 interchange along Moccasin Wallow Road and offer services including general, orthopedic and specialty surgery; urology, gastroenterology, cardiology, diagnostic and interventional imaging; emergency care; obstetrics; and neonatology. Gresham Smith designed BayCare Hospital Manatee, including the hospital’s potential expansion to 207 beds. BayCare Health plans to break on the hospital, the health system’s 17th, in October, with anticipated delivery in 2027.

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DevelopmentFloridaRetailSelf-StorageSoutheast

Futura, Linkvest Capital Deliver 130,000 SF Self-Storage, Retail Facility in Orlando

by John Nelson

ORLANDO, FLA. — Futura and Linkvest Capital have completed the construction of Nona Cove Self Storage, a 130,000-square-foot development featuring self-storage and retail space at 14800 Narcoossee Road in the Lake Nona neighborhood of Orlando. The facility — which comprises 122,000 square feet of self-storage space and 8,000 square feet of retail space — is part of the first phase of Futura at Nona Cove, a 17-acre mixed-use project anchored by a new 260-unit apartment community. Managed by Extra Space, Nona Cove Self Storage includes 1,046-square-foot bays with a gated drive-thru and is currently 57 percent leased.

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AcquisitionsBuild-to-RentFloridaMultifamilySingle-Family RentalSoutheast

Berkadia Brokers $14.6M Sale of Build-to-Rent Townhouse Community in Fort Lauderdale

by John Nelson

FORT LAUDERDALE, FLA. — Berkadia has brokered the $14.6 million sale of ID Flagler Village, a build-to-rent (BTR) townhouse community located at 113 N.E. 6th St. in the Flagler Village neighborhood of Fort Lauderdale. The property totals 24 homes spanning 1,600 square feet each. Built in 2018, ID Flagler Village also features private two-car garages, private patios and balconies and amenities including an onsite dog park and controlled access entry. Yoav Yuhjtman, Roberto Pesant, Jaret Turkell and Omar Morales of Berkadia’s South Florida office represented the seller, locally based Ceiba Groupe, in the transaction. An entity doing business as US Housing Reditus Fund LLC acquired the property.

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DevelopmentFloridaIndustrialSoutheast

BBX Logistics, FRP to Develop 213,500 SF Industrial Park in Lakeland, Florida

by John Nelson

LAKELAND, FLA. — A joint venture between BBX Logistics Properties and FRP Development Corp. plans to develop BBX Park at Lakeland, a 213,500-square-foot logistics park in Lakeland. The 22.5-acre project will be located at 8255 State Road 33 N, which is directly north of I-4 and within 50 miles of both Tampa and Orlando. BBX and FRP plan to break ground on the park in the fourth quarter, with delivery and occupancy slated for 2025. The joint venture has tapped Kris Courier of CBRE’s Tampa office to market BBX Park at Lakeland for lease.

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DevelopmentFloridaLoansMultifamilySoutheast

Berkadia Arranges $328M Construction Loan for Luxury Condo Tower in Miami

by John Nelson

MIAMI — Berkadia has arranged a $328 million construction loan for Baccarat Residences Miami, a 355-unit luxury condominium tower planned at the gateway of Brickell Avenue in Miami. Scott Wadler, Michael Basinski, Mitch Sinberg, Matt Robbins and Brad Williamson of Berkadia arranged the floating-rate loan through Bank OZK on behalf of the borrowers, Related Group and GTIS Partners. Baccarat Residences, which is currently 95 percent presold, is scheduled for completion in early 2028. Designed by Arquitectónica and managed by SH Hotels & Resorts, the tower will feature more than 75,000 square feet of high-end amenities, including a marina, spa, art installations and a health and fitness center.

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DevelopmentFloridaIndustrialSoutheast

Foundry Commercial to Develop 457,000 SF Logistics Center in Boynton Beach, Florida

by John Nelson

BOYNTON BEACH, FLA. — Foundry Commercial has purchased 30 acres at 3800 S. Congress Ave. in Boynton Beach, with plans to develop a 457,000-square-foot logistics center at the site. Upon completion, the development — dubbed Egret Point Logistics Center — will feature two rear-load warehouses with 180-foot truck courts, 32-foot clear heights, parking and ESFR sprinkler systems. The Orlando-based developer plans to demolish the existing 126,000-square-foot office and warehouse building currently occupying the site to make way for the new project. Construction is scheduled to be completed in spring 2025.

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Affordable HousingDevelopmentFloridaLoansMultifamilySeniors HousingSoutheast

CREI Holdings Secures $67M Loan for Affordable Housing Development in Metro Miami

by John Nelson

SWEETWATER, FLA. — CREI Holdings has secured a $67 million construction loan for the development of Li’l Abner III, an affordable and workforce housing community in Sweetwater, roughly 15 miles outside of Miami. Centennial Bank provided the financing. Upon completion, which is scheduled for the second quarter of 2026, the property will feature an eight-story building with 328 one- and two-bedroom apartments, with 40 percent of the residences reserved for households earning 80 percent of the area median income (AMI). Additionally, 40 percent of units will be designated for residents age 55 and older. Amenities at Li’l Abner III, which will be situated adjacent to Li’l Abner I and II, will include a fitness center, lounge, central courtyard and storage facilities. Yuleisy Montalvo of Centennial Bank arranged the financing internally. Attorney Manny Diner represented CREI in the loan transaction, and attorney Richard Barbara represented Centennial Bank.

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