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Florida Multifamily Real Estate News Roundup 2022

Florida Multifamily Real Estate News Roundup 2022

July 20, 2022

The Multifamily Firm pulls together the top CRE news stories from around The Sunshine State every quarter, with a focus on the multifamily sector.

Florida Multifamily Real Estate News Roundup Q2 2022

Florida’s multifamily real estate updates in Q2 2022 include:

Jupiter apartment complex sells for $127M

Northland sells Jupiter Isle apartments to S2 Capital for $127M, with significant renovations planned. Read More

Joint Venture Formed to Build 5,000 Apartments, 1.5M Square Feet in Florida

Meyers Group and Accesso have formed a joint venture to build 5,000 apartments across 1.5 million square feet, making up ten projects in Florida. Read More

Stiles Unveils Luxury Mid-Rise Multifamily Apartments in Plantation

“Having delivered one of our first luxury multifamily projects in Plantation more than a decade ago, we remain highly invested in the city of Plantation and are thrilled to have the opportunity to bring the next generation of amenity-rich, luxury living options to the area with The Ellsworth,” said Jeff McDonough, Stiles Residential Group President. Read More

Miami Condo Building Sells For Over $1M Per Unit

The 15 unit waterfront condo is centrally located in North Bay Village. Read More 

Redfin Report Shows That Miami and Tampa Are Where Most Want to Live

The reported net inflow in April and May make them prime destinations. The report detailed that inApril and May about one-third of those surveyed were looking to change metro areas with most looking to Miami and Tampa. Read More

Availability Sparse in Miami Apartment Market

It has never been more difficult for residents to find a vacant apartment in Miami-Dade. Marcus & Millichap ranks it second in the country, with new residents there likely to rent, most often in luxury properties. Read More

Tampa Bay Area’s Tallest Multifamily Tops Off

The 36-story, mixed-use project in St. Petersburg, FL will include 357 units, a 172-key hotel and 6,800 square feet of ground-floor retail space. Read More

Florida Multifamily Real Estate News Roundup Q1 2022

Florida’s multifamily real estate updates in Q1 2022 include: major multifamily asset and acquisitionsnew development projects.

Miami Beach Condo Receives $500M Bid for Acquisition

Related Group and 13th Floor jointly offered half a billion dollars to buy out a Miami Beach condo property. Read More

Asia Capital Sells Four Multifamily Assets

Private real estate equity and debt firm, Asia Capital Real Estate sold four multifamily communities in Georgia, Florida, and North Carolina. Read More

Development Begins Work on Hollywood Apts with $43M Loan

The 18-story Nine Hollywood is under construction at 1809 Jackson St. Read More 

The Multifamily Firm Brokers Apt Building Sale in St Petersburg

The Multifamily Firm announced the sale of 730 Downtown Flats, a unique 9-unit, 1918 construction apartment building in Downtown St Petersburg, Florida. Read More

Three CRE Vets Start New Multifamily Investment Firm

A new, multifamily-focused real estate investment firm was founded and already made an acquisition. The firm plans to buy up somewhere in the range of $200M of apartments this year in the D.C. region and Florida.  Read More

Leste Real Estate US Inks $500M in Multifamily Asset Deals

Leste, a real estate investment company completed a massive round of multifamily property acquisitions in the Sunbelt region amounting to half a billion dollars of transactions. Read More

Walton Street Capital Inks Deal for Tampa Apartments for $100M

Walton Street Capital expanded its presence in Tampa Bay with the acquisition of a 226-unit multifamily property. According to Yardi Matrix data: AG Spanos Cos. offloaded the asset for $100 million. Read More

Florida Multifamily Real Estate News Roundup Q1 – Q4 2021

Florida’s multifamily real estate updates in 2021 include: new apartment complex developments, major multifamily property deals, Florida CRE news highlights, and more.

GlobeSt Asks “How Long Will the Florida Multifamily Market Stay This Hot?”

GlobeSt covers the latest hot streak of multifamily real estate in Florida with the exponential growth in rental rates and price per unit on sales. They answer the question, “is this a bubble and if so, when is it going to pop?” Read More 

South Florida Real Estate’s Biggest Stories from TheRealDeal put together a list of the top South Florida real estate highlights from 2021. Read More

Miami-Area Luxury Multifamily Property Sells for $255M

JSB Capital Group purchased a luxury multifamily real estate asset in Miami for $255 million. The 631-unit property, The Landmark South, was built in two phases from 2017 to 2021. Read More

German Conglomerate Splashes $227M for Ft Lauderdale Apartment Complex

Union Investments, a German conglomerate, purchased Flagler Village in Fort Lauderdale for $227 million. It was their first multifamily play in the United States. Read More

Inland Private Capital Corp Exchanges 1031 Portfolio for $206M

Inland Private Capital Corp closed the buying round of its FL / NY Multifamily Portfolio DST, which is made of 3 apartment communities with nearly 800 total units. Read More

Florida Commercial Real Estate News Roundup 2021

MMG Equity Partners, a retail real estate company based in Miami, released its quarterly Florida commercial real estate news roundup for 2021.

LaVida Apartment Complex in Miami Sold for $98M

Ascend Blue Lagoon LLC, a JV between Boca Raton-based Ascend Properties and Miami-based Pinnacle sold the 272 apartments in Miami in Q3 2021. Read More

Morgan Properties Acquired Village Place Apartments in West Palm Beach

Three apartment complexes on the same street in West Palm Beach were acquired for $132.5M total. Read More

Developer Lissette Calderon’s $100M Apartment Project in Miami Set to Make History

Lissette Calderon, one of Miami’s only female developers, is developing a new $100M multifamily real estate project in Miami. Read More

Ram Realty Advisors Sold Curv, An Apartment Complex with a Whole Food Market Attached in Ft Lauderdale for $150M

The mixed-use: multifamily and retail real estate project in Ft Lauderdale is comprised of 243 apartments and a 49,000-square-foot Whole Foods Market. Read More

Multifamily Markets with Top Rent Growths Published

The Business Journals found that among the Top 50 MSAs, rents grew more than 10% between Q1 2020 and Q3 2021. Read More

$81M Mixed-Income Housing Project Begins in West Palm Beach

Ft Lauderdale-based Affiliated Development, announced in September 2021 that it started developing an $81M mixed-income workforce housing project called The Grand. Read More

Cortland Pays $504K / Unit in Florida’s Largest Multifamily Property Transaction of 2021

A multifamily property in Boca Raton traded for $230M in August 2021, making it the largest multifamily property deal in FL for 2021. Read More

Is Tampa the New Austin, TX? Major Projects from Bill Gates and Jeff Vinik Are a Solid Indication

Tampa is set to boom thanks to major development projects beginning in the area. One project by Bill Gates and Jeff Vinik alone is in the billions, $3.5B. Read More

DASMEN Residential Buys FL Multifamily Portfolio for $101M

The 5 apartment communities in Orlando and Tampa total over 1,000 units. Read More

GlobeSt’s Miami CRE Section

GlobeSt’s Miami commercial real estate news published on a daily / weekly basis. Read More

Tampa Multifamily Real Estate News Multifamily Firm

Florida Multifamily Real Estate News Highlights 2020

The Q2 2020 commercial real estate updates include: the latest public transportation project in Miamivacancy rates and rent collection during the pandemic, and several new multifamily property projects around the state.

Sunny Isles Beach Will Be Home to $97M+ Multifamily Project

The apartment developer for the Sunny Isles Beach obtained a $97 million loan for a 256-unit apartment complex. The project is projected to take two years to complete. Read More

Monorail Is the Latest Proposal to Connect Miami Beach and Downtown Miami

Officials in Miami have spent years considering different projects for connecting Miami Beach to Downtown Miami via public transit. After several possible solutions, the latest proposal includes a monorail to connect the two prominent areas of the city. Read More

Fort Lauderdale is the New Home of the Largest Co-Living Project in the United States

Society Las Olas, a 34-story development with nearly 640 units, started having tenants move in this past month. The CRE project is considered to be the largest co-living space in the nation. The project not only has living spaces, but also is mixed-use with retail spaces and co-living amenities. Read More

South Florida Apartment Owners Expected a Rough May for Vacancy Rates and Rent Collected

The rise in unemployment due to the pandemic has affected various sectors across the country and the world. As professionals feel the financial pinch, apartment owners are expecting troubling numbers from their properties’ rent collection and vacancies. Read More 

Rieber Developments Breaks Ground on $100M Miami-Area Project

The Aventura Health District is getting more vibrant with the addition of a mixed-use property that will be developed across from the Aventura Hospital. The project will feature offices, condos, and retail spaces. Read More

JV Created for Numerous Multifamily Projects Across the United States

Mill Creek and QuadReal join forces to create $421 million multifamily joint venture. The JV will invest these dollars in developing and operating multifamily communities around the country. Read More

Berkadia Seals $97M Loan for the Construction of Sunny Isles Multifamily Project

Berkadia sealed the $97 million loan for the construction of Las Marinas Apartments in Sunny Isles Beach. The MF project will feature two 17-story towers with 256 total units. Read More

How Architecture Can Help Curb the Next Possible Pandemic

Real estate professionals focusing on architecture discuss how exactly crowds and ventilation are taken into consideration during the design process to mitigate the spread of potential outbreaks. Read More

Multifamily Complex in South Florida Sold for $100M

CityPlace Doral Flats in Doral sold for $100 million to Virginia-based Harbor Group. The 303-unit property asset was 95% leased at the time of the sale. Read More

NKF Brokers $58 Million for Sale of Fort Lauderdale Multifamily Property

A 302-unit asset in Fort Lauderdale, Serramar Apartments, sold for $58 million. The apartment complex has 23, two-story buildings, and was 95% occupied at the time of the sale. Read More

Berkadia Released the 2020 forecast for the South Florida Multifamily Market

Berkadia released its annual report for So Florida’s multifamily property market, and sees rents rising due to a rise in deliveries. Read More

Miami’s Condo Market is Cooling Leading Developers to Move North on New Multifamily / Apartment Projects

BisNow covers the ongoing trend of apartment property developers moving to construct new projects in areas of Florida outside of Miami. Read More