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Florida Commercial Real Estate News Roundup 2019

Florida Commercial Real Estate News Roundup 2019

January 1, 2020

Florida Commercial Real Estate News Roundup Q4 2019

The Q4 2019 commercial real estate updates include: new multifamily property acquisitions, several multifamily developments throughout Florida, the shift of the multifamily commercial real estate market, and Disney acquiring land in Florida near its theme parks.

Castle Lanterra Buys Tampa Luxury Multifamily Property for $77M

The site’s developer sold the 339-unit, 100% occupied multifamily community upon completion of the project. The Vue at Bellair is a Class A property with a price per unit of $227,876. Read More

Broward Apartment Complex Acquired for $75M

Lindermann Multifamily sells the Verona Views apartment complex in Plantation, FL to PGIM Real Estate. PGIM is a global real estate fund. Read More

South Florida’s Multifamily Market Has Few (and Expensive) Properties Left

BisNow covers the overwhelming demand for multifamily properties in South Florida, and those that remain on the market are few and quite expensive comparatively. This is forcing the market to shift and creating opportunities for other multifamily markets in Florida. Read More

Opportunities for Florida’s Condo Market Expands Outside of Miami

Regions in Florida not called Miami are creating opportunity zones for investors and developers of condos. Due to a rise in demand and the pricing of units in Miami, the market is shifting to other areas of The Sunshine State. Read More

Disney Acquires 230 Acres of Land Near Disney World

In December, 2019 one of Disney’s companies (Compass Rose Corporation) purchased nearly 235 acres of land next to Disney’s Oak Trail Golf Course in Orlando. What the company plans to do with its expanding Central Florida empire is still a mystery. Read More

West Palm Beach Apartment Complex Acquired by Private Equity Fund for $55M

Covenant Capital group sells Vue at 1400. The West Palm Beach apartment complex sits alongside a golf course. It is one of the biggest deals struck in Q4 2019. Read More

Terra Purchases Miami-Dade Multifamily Development Site for $52M

Miami-based real estate development firm, Terra, acquired 70 acres of land in Northwest Miami-Dade for $52 million. The site will be home to a new multifamily property development with 1,369 units. The overall plan is to have three master-planned subdivisions with communal clubhouses, pools, gyms, and other amenities for residents. Read More 

Related Group Begins Next Phase of Fort Lauderdale Apartment Project

The new phase of the New River Yacht Club in Fort Lauderdale will be 20 stories tall with 230 apartments and 2,400 square feet of retail space. It is a joint project by Related Group and Rabina Properties. Read More

Bella Luna Investments Acquires Cape Coral Multifamily Property for $35M

Bella Luna Investments recently purchased Coralina, a 186-unit multifamily complex for $35 million. The community has several amenities for residents, including: a heated swimming pool, a summer kitchen / outdoor fire pit, and a 24-hour fitness center with a yoga room. Read More

Tampa Multifamily Real Estate News Multifamily Firm

Florida Commercial Real Estate News Roundup Q3 2019

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