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Florida Multifamily Real Estate News Roundup

Florida Multifamily Real Estate News Roundup

November 4, 2021


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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 Q1 – Q4 2021

Florida’s multifamily real estate updates in 2021 include: new apartment complex developmentsmajor multifamily property dealsFlorida CRE news highlights, and 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

 

Florida Commercial Real Estate News 2019

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