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Florida Commercial Real Estate Quarterly News Roundup

Florida Commercial Real Estate Quarterly News Roundup

October 7, 2019


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Florida Commercial Real Estate News Roundup Q3 2019

The Multifamily Firm pulls together the top CRE news stories from around The Sunshine State every quarter, with a focus on the multifamily sector. The Q3 2019 commercial real estate updates include: new multifamily construction projectsapartment complex acquisitions throughout Florida, and Airbnb’s effect on the commercial real estate market.

 

‘Incredible’ Capital Flow for Multifamily Commercial Real Estate Predicted to Expand in 2020

This most recent cycle saw the multifamily sector as the top recipient of investor capital for commercial real estate nationwide. Even with the doubts in the economy due to a “looming recession”, industry experts are predicting an increase in capital to multifamily CRE. Read More 

BTI Partners’ Marina Pointe Project Commences Construction in Tampa

BTI Partners, a Fort Lauderdale-based real estate development firm is breaking ground on a new multifamily property. The project in Tampa, Florida will have 113 luxury condos and 7 townhomes with excellent views over looking the bay and St. Pete’s skyline. Read More

FSU Study: Airbnb’s Exponential Growth Disrupts Hotel Industry

“Increased competition from Airbnb is mainly affecting hotel prices and revenues, but occupancy rates are also down slightly”, says an assistant professor at FSU’s Dedman School of Hospitality. It took 10 years, but Airbnb’s consistent growth now officially categorizes it as an industry disruptor. Read More

Virgin Hotels to Create Their First Hotel in Miami with Co-Living Quarters

Richard Branson’s mega-corporation will further expand their presence in South Florida via a new hotel. The site will be in Brickell, and is set to close in early 2020. Development will quickly ensue, with a projected completion date of 2023. The residential portion will have 150 co-living units with access to the hotel and its amenities. Read More 

First Affordable Housing Project in Miami Designed for People with Developmental Disabilities Approved

Casa Familia is underway with a major housing project for the developmentally disabled (people with Down syndrome, autism, etc). This is huge, because around 80% of these individuals will never be able to hold jobs, and they live on an amount given to them by Social Security that is well below the amount needed to afford housing in Miami. Read More 

Las Olas Boulevard Received Proposal for New Multifamily Building

A 14-story / 77-unit building has been proposed by Roberts Equities at 808 E 4th St in Fort Lauderdale, FL. It will be on the banks of the New River, and would have a dock leading directly to the water hub. The building would replace a currently standing multifamily housing building on the property.  Read More

Industrial Marina Land in Broward Potentially Set to Become Multifamily Property

Asi Cymbal proposes massive project in Broward county that could transform marina / industrial land into an expansive multifamily property development in the Florida county. Read More

2 Critical Tools for Effective Multifamily Housing Management

GlobeSt.Apartments’ conference on October 29th – 30th will feature opportunities in the industry for those looking to get ahead of the curve and also network with fellow industry leaders. As shown by the national vacancy rate getting to as low as 4.4% for multifamily units, the demand is strong, and there are economic factors to be aware of moving into the near future. Read More

Terra Group Seals the Deal for $91 Million Refinancing of Pembroke

Terra Group, a residential and commercial development firm, just secured $91 million dollars to refinance Pine Gardens City Center. It’s a 387-unit multifamily property in Pembroke pines. The community has one-to-three-bedroom apartments and monthly rents start at $1,645. Read More

Preston-Giuliano Capital Partners Sells $59M Multifamily Property in Tampa

The Boston-based firm sold Mezzo at Tampa Palms, a Tampa apartment complex with 340 units, to Taurus Investment Holdings, another Boston area commercial real estate outfit. The deal was calculated to be about $173K per unit. Read More

 

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