The Vizzda Weekly - South Florida - December 27th, 2016

THE VIZZDA WEEKLY December 27th, 2016    Last week in South Florida, Vizzda tracked $377,506,870 in commercial real estate transactions including 50 sales and 4 new projects. Below are Vizzda's top reports of the week.          PLANNING & ZONING       New Mixed-Use Apartment Complex Proposed for Development in Miami         On December 21st, The Miami Planning Commission introduced a Rezoning Application for the development of a 192-unit mixed-use apartment complex totaling 295,814 square feet.              (1 of 7 planning & zoning events last week)   Vizzda Subscribers - Click Here to View Full Report   LAND     Residential Land in Miami Purchased for $6.9M          On December 19th, Lennar Homes purchased 24.11 acres of residential land in Miami from The School Board of Miami Dade County for $6,900,000 or $286,000 per acre.            (1 of 6 land sales last week)   Vizzda Subscribers - Click Here to View Full Report   OFFICE     Former Bank Branch in Doral Purchased for $3.85M    On December 20th, Midtown Capital Partners purchased one single-story building totaling 5,491 square feet from United Trust Fund for $3,850,000 with $1,900,000 in funding with Mercantil Commerce Bank.             (1 of 13 office sales last week)   Vizzda Subscribers - Click Here to View Full Report     MULTIFAMILY     494-Unit Mixed-Use Apartment Complex in Boynton Beach Purchased for $109.35M   On December 16th, Pollack Shores Real Estate Group Purchased four 1-5 story buildings covering 14.77 acres from PGIM Real Estate & Epoch Companies for $109,350,000 with $70,400,000 in funding with Prudential Life Insurance Company.              (1 of 6 multifamily sales last week)   Vizzda Subscribers - Click Here to View Full Report    INDUSTRIAL     Warehouse in Hollywood Purchased for $13.7M   On December 16th, Charles Dimston & Jerome Berko purchased one single-story building totaling 88,622 square feet from Hanseatic Land Trust for $13,700,000 with $8,300,000 in funding through Principal Financial.   (1 of 12 industrial sales last week) Vizzda Subscribers - Click Here to View Full Report    RETAIL     Neighborhood Shopping Center in Lake Worth Purchased for $31M      On December 19th, IMC Equity Group purchased three single-story buildings totaling 106,633 square feet from Principal Financial Group for $31,000,000 with $21,950,000 in funding through BB&T. The property is part of a neighborhood shopping center with "Wal-Mart Neighborhood Market" anchor.               (1 of 12 retail sales last week)   Vizzda Subscribers - Click Here to View Full Report

The Vizzda Weekly - South Florida - August 29th, 2016

 

THE VIZZDA WEEKLY

August 29th, 2016

 

Last week in South Florida, Vizzda tracked $229,861,586 in new commercial transactions,

including 69 sales and 11 new projects. Below are reports for five of those events.

 

LAND

 

 

Industrial Land in Miami Gardens Purchased for $3.1M     On August 19th, Laurent Groll purchased 4.66 acres of land in Miami Gardens from William Webb for $3,100,000.   (1 of 9 land sales last week)   View Full Report

 

OFFICE

 

 

Two Office Buildings in Coral Springs Purchased for $2M   On August 22nd, Naser and Nancy Dakdouk purchased a 6,008 SF office property from ABC Workshop for $2,000,000 with $1,828,800 in new funding with Suntrust Bank.      (1 of 12 office sales last week)   View Full Report

 

MULTIFAMILY

 

 

Low Income Housing in Homestead Purchased for $6.7M    On August 17th, Ramon, Irene & Esteban Madruga purchased a 114 unit, 3-story apartment complex for $6,700,000 with $5,025,000 in new funding with Eastern National Bank.      (1 of 18 multifamily sales last week)   View Full Report

 

INDUSTRIAL

 

 

Warehouse in West Palm Beach Purchased for $1.25M  On August 24th, Palm Truck Centers Incorporated purchased a 6,960 SF single-tenant warehouse for $1,250,000 with $1,400,000 in new funding with Bank of America. (1 of 13 industrial sales last week) View Full Report

 

RETAIL

 

 

Retail Anchor in Oakland Park Purchased for $3.3M   On August 23rd, F. Ronald Mastriana and Rotella Group purchased a 43,994 SF freestanding retail property from Ian Bacheikov for $3,300,000 with $1,000,000 in funding with Palm Beach Community Bank.     (1 of 17 retail sales last week)   View Full Report

The Vizzda Weekly - South Florida - August 22nd, 2016

 

THE VIZZDA WEEKLY

August 22nd, 2016

 

Last week in South Florida, Vizzda tracked $297,739,768 in new commercial transactions,

including 52 sales and 16 new projects. Below are reports for five of those events.

 

LAND

 

 

Commercial Land in West Palm Beach Purchased for $2.5M     On August 16th, Bryn Wesch purchased 4.89 acres of commercial land from Origins Recovery for $2.5M with $3.5M and $2.45M in funding with US Ameribank.   (1 of 8 land sales last week)   View Full Report

 

OFFICE

 

 

Second Story Office Condos in Boca Raton Purchased for $2.5M   On August 16th, Derek Vander purchased six office condos totaling 5,095 SF from Nicholas Rotenberger for $2.5M with $2.25M in funding with Paradise Bank. Photo includes entire condominium.      (1 of 7 office sales last week)   View Full Report

 

MULTIFAMILY

 

 

22-Unit Apartments in Lighthouse Point Purchased for $2.65M   On August 18th, Evan Braunstein purchased the two-story apartments for $2.65M (or $120,454 per unit) from Paul and Tracy Wogman with $1.9875M in funding from One United Bank.    (1 of 9 multifamily sales last week)   View Full Report

 

INDUSTRIAL

 

 

Distribution Intensive Condo in Dania Beach Purchased for $675K  On August 18th, Miami Time Inc. purchased the 4,100 SF unit from Intramed Inc. for $675K. (1 of 5 industrial sales last week) View Full Report

 

RETAIL

 

 

Freestanding Retail Anchor in Homestead Purchased for $1.3M   On August 17th, Dale Murdrak purchased the 7.72 acre retail property from Luz & Brian Matlin for $1.3M with funding of $520K and $650K from BB&T.    (1 of 16 retail sales last week)   View Full Report

 

Oceanfront Apartment Complex "Villa Oceana" Sells for $51.5 Million

Area Map

Multifamily investment company Laramar sold the 160-unit Villa Oceana apartment complex yesterday for $51.5 million. New York-based TGM Associates purchased the property with a new loan of over $33 million with Fannie Mae.

The Villa Oceana is located on Ocean Boulevard in Boca Raton, directly against the Atlantic Ocean to the east and the Intracoastal Waterway to the west. The complex totals nearly 214,000 square feet in three six-story buildings built in 1967 and renovated in 2009. It includes units of one, two, and three bedrooms as well as in-unit washers and dryers.

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Alta Mira Apartments in Miami Sell for $52.7 Million

Area Map

Georgia-based Wood Partners sold the 240-unit Alta Mira Apartments Friday for $52.7 million or $219,500 per unit. The buyer, local investment company Advenir, funded the sale with a $38.7 million Freddie Mac loan.

The Alta Mira Apartments were built in 2013 near the southwest corner of Biscayne Boulevard and 123rd Street. Nearby shopping includes Whole Foods, The Home Depot, and CVS Pharmacy.

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Atlantic Crossing Sells to Edwards Companies for $38.5 Million

Site Plan via developer webiste

Ohio-based Edwards Companies now owns the 8.6 acres in Delray Beach proposed for the long-disputed Atlantic Crossing mixed-use project. CDS International Holdings sold the land yesterday for $38.5 million, and the sale was funded by seller financing and a loan with First Financial Bank.

The proposed mixed-use project will total 343 residential units, 83,000 square feet of Class A office space, and 76,000 square feet of shops & restaurants. It is located at the direct northeast corner of 7th Avenue and Atlantic Avenue, directly west of Veterans Park and the Gulf Stream.

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ZOM USA Purchases Met Square Development, Secures $101 Million Loan

Rendering of completed Met Square

On Monday Orlando-based ZOM USA purchased an area of downtown Miami land on which the mixed-use project Met Square is being developed for $17.645 million. A new loan of over $101 million with UBS Realty was recorded with the sale.

Met Square is the final phase of Metropolitan Miami Project developed by MDM Group USA. It is to include a 43-story apartment tower of 391 units, a 80,000 square foot 17-screen movie theater, and retail / restaurant space. A museum to feature Tequesta Indian ruins found during development will also be included.

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Land Proposed for One River Point Sells for $5.4 Million

Rendering via One River Point website

Shahab Karmely of KAR Properties purchased a half acre of Miami land last Friday, proposed for the 60-story One River Point luxury development. The purchase was funded though a loan of $3.4 million with seller Jeffrey Christ.

One River Point is to total 404-condo units with a new restaurant including entertainment and event space. Current industrial improvements are to be demolished.

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