News

South Florida - The Real Deal Real Estate News

• Citrix sells its Fort Lauderdale HQ for $37M, leases back office space   

  by Lidia Dinkova on August 30, 2024

  Cloud computing and software company Citrix sold its headquarters in Fort Lauderdale for $37 million, leasing back its office space.  Citrix sold the nine-story building at 899 West Cypress Creek Road, six-story building at 851 West Cypress Creek Road and adjacent garage, according to records and real estate database Vizzda. The buyer is an entity The post Citrix sells its Fort Lauderdale HQ for $37M, leases back office space    appeared first on The Real Deal.

• Masoud Shojaee gets grilled in court depo about Shoma bank accounts

  by Francisco Alvarado on August 30, 2024

  In an intense court deposition this month, Masoud Shojaee was grilled about multiple bank transfers involving affiliates of his Coral Gables-based firm, Shoma Group. The funds were transferred into an account of another entity he manages that lent him $13 million. Throughout the five hour and twenty minute session, tied to a lawsuit filed by The post Masoud Shojaee gets grilled in court depo about Shoma bank accounts appeared first on The Real Deal.

• Lease roundup: FIFA opens permanent office in Coral Gables ahead of 2026 World Cup

  by Lidia Dinkova on August 30, 2024

  FIFA | Coral Gables  FIFA expanded its South Florida office ahead of the 2026 World Cup, with plans to keep the space permanently as a base for the Americas.  The international soccer governing organization now has a total of 75,000 square feet on four floors at 396 Alhambra Circle in Coral Gables, after adding 15,000 The post Lease roundup: FIFA opens permanent office in Coral Gables ahead of 2026 World Cup appeared first on The Real Deal.

• Joe Farrell launches sales for 27 luxury single-family homes in Wellington

  by Kate Hinsche on August 30, 2024

  Spec developer Joe Farrell is launching sales for 27 luxury single-family homes in Wellington’s Palm Beach Polo & Country Club. Prices for the planned Wellington homes start at $6 million and go up to $11.5 million, said Lawrence Boal, a Nest Seekers agent who handles digital marketing for Farrell’s Bridgehampton, New York-based Farrell Companies. The The post Joe Farrell launches sales for 27 luxury single-family homes in Wellington appeared first on The Real Deal.

• Affiliated scores $50M construction loan for West Palm multifamily project

  by Francisco Alvarado on August 30, 2024

  Affiliated Development started construction of a planned West Palm Beach apartment building after nabbing a $50 million loan. Bank of Montreal provided the financing for The Spruce, an eight-story multifamily project with 270 units being developed on a 1.5-acre site at 2501 Spruce Avenue, a press release states.  Fort Lauderdale-based Affiliated plans to complete The The post Affiliated scores $50M construction loan for West Palm multifamily project appeared first on The Real Deal.

• Pembroke Pines condo complex deemed structurally unsafe to hit the market 

  by Lidia Dinkova on August 29, 2024

  A Pembroke Pines condo complex that was evacuated following monthslong structural safety concerns and allegations of prior board members’ mismanagement will hit the market.  Heron Pond, a 304-unit complex at 8400 Southwest First Street, will go up for sale and the condo association will be dissolved, after engineering reports found extensive deterioration that needs costly The post Pembroke Pines condo complex deemed structurally unsafe to hit the market  appeared first on The Real Deal.

• Fred and Aaron Karlton buy waterfront Sunset Islands teardown, plan spec mansion

  by Katherine Kallergis on August 29, 2024

  Karlton Companies bought a waterfront teardown on the Sunset Islands in Miami Beach, with plans to build an ultra luxury spec mansion, The Real Deal has learned.  A company, led by father and son Fred and Aaron Karlton, paid $19 million for the half-acre property at 1649 West 22nd Street on Sunset Island IV. Property The post Fred and Aaron Karlton buy waterfront Sunset Islands teardown, plan spec mansion appeared first on The Real Deal.

• Panattoni picks up former Miami Herald headquarters in Doral

  by Francisco Alvarado on August 29, 2024

  Panattoni Development jumped into the Doral office submarket, picking up a two-story building that previously housed the headquarters for Miami Herald and El Nuevo Herald.  An affiliate of Irvine, California-based Panattoni, led by Carl Panattoni, acquired the 9-acre property at 3511 Northwest 91st Avenue, records and real estate database Vizzda show. The deal breaks down The post Panattoni picks up former Miami Herald headquarters in Doral appeared first on The Real Deal.

• Waterfront Hibiscus Island mansion sells for record $40M

  by Katherine Kallergis on August 29, 2024

  A waterfront mansion in Miami Beach traded for $40.3 million, setting a record for home sales on Hibiscus and Palm islands.  A company managed by builder Paul Vogele, who lived in the home, sold the 10,800-square-foot, seven-bedroom, eight-and-a-half-bathroom house at 101 North Hibiscus Drive, according to the Multiple Listing Service. A Wyoming LLC named after The post Waterfront Hibiscus Island mansion sells for record $40M appeared first on The Real Deal.

• Elliman’s Thor Brown jumps to Compass in Palm Beach

  by Kate Hinsche on August 29, 2024

  Palm Beach agent Thor Brown is jumping from Douglas Elliman to Compass, the latest move in the island’s brokerage turf battles. Brown, who has closed more than $300 million in sales since 2021, will be Compass’ director of luxury sales, according to a press release. Also joining the brokerage’s Palm Beach office is Sam Fingold, The post Elliman’s Thor Brown jumps to Compass in Palm Beach appeared first on The Real Deal.