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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Notice of Commencement, $80m Construction Loan Recorded for Vice Apartments

Area map

Property Markets Group is now one step closer to development of the Vice Apartments tower in Downtown Miami. A notice of commencement recorded with the Miami-Dade recorder Friday, just after the 1-acre site transacted in a related sale. A construction loan of $80 million with Centennial Bank was also recorded.

Vice Apartments is a proposed 32-story complex with 464 units on 1 acre near Biscayne Blvd and 4th St in Downtown Miami.

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South Florida Vizzda Weekly - Week Ending May 20th, 2016

For The Week Ending May 20th, 2016 Vizzda reported 42 Sale events totaling $190,953,143.00 in transaction value in the South Florida Market.  Vizzda also cataloged 2 Planning and Zoning events.
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What Happened in LAND Last Week? Vizzda reported 7 Land Sale events in the South Florida Market.
	Featured Land Sale: West Palm Beach Land Proposed for Storage Facility Sold for $1.5M   On 5/13/2016, Public Storage purchased this property from Southern Self Storage for $1.5M. The property is proposed for a 950-unit, 3-story limited access self-storage building on ±1.99 acres of commercial land and is zoned MUPD.           Vizzda Subscribers- click here to access the full report.
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What Happened in OFFICE Last Week? Vizzda reported 6 Office Sale events in the South Florida Market.
	Featured Office Sale: Boynton Beach Medical Offices Purchased for $2.55M  Dr. Salam Daghter purchased this property on 5/18/2016 from South Florida Gastroenterology Associates for $2.55M. The property consists of two single-story buildings  on ±1.31 acres and is zoned C1.   Vizzda Subscribers - click here to access the full report.
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What Happened in MULTIFAMILY Last Week? Vizzda reported 6 Multifamily Sale events in the South Florida Market. Vizzda also cataloged 2 Multifamily Planning and Zoning events.
	Featured Multifamily Sale: 24-Unit Apartments Built 1926 Sell for $2.7M in Miami    On 5/13/2016, Irvin Pena sold this property to Asden Investment Properties for $2.7M. The property consists of 24-unit apartments in one  three story building on ±0.17 acres of land and is zoned T4-R.       Vizzda Subscribers - please click here to access the full report.
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What Happened in RETAIL Last Week? Vizzda reported on 12 Retail Sale events in the South Florida Market.
	Featured Retail Sale:  Multi-Tenant Retail Property Purchased in Downtown Miami for $23M      On 5/16/2016, Guggenheim Investments purchased this property from Peter Gardner for $23M. This retail property consists of ±28K SF of downtown-style strip retail, in one 2-story building zoned T5-O.   Vizzda Subscribers - please click here to access the full report.
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What Happened in INDUSTRIAL Last Week? Vizzda reported on 9 Industrial Sale events in the South Florida Market.
	Featured Industrial Sale: Distribution Center in West Palm Beach Sells for $1.475M        On 5/16/2016, Neil and Sharon Harrow sold this property to SteelCo USA  $1.475. This industrial flex property is one single-tenant building on ±1.05 acres and is zoned IL.   Vizzda Subscribers - click here to access the full report.
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