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• Longpoint bulks up South Florida industrial portfolio with $27M Medley purchase

  by Francisco Alvarado on September 6, 2024

  Longpoint continues bulking up its South Florida industrial portfolio, recently paying $27.2 million for three Medley warehouses. An affiliate of Boston-based Longpoint, led by founding partner Dwight Angelini, acquired the 113,936-square-foot complex at 9942 Northwest 89th Court, records and real estate database Vizzda show. The deal breaks down to $237 per square foot.  The seller, The post Longpoint bulks up South Florida industrial portfolio with $27M Medley purchase appeared first on The Real Deal.

• MG Developer expands into hospitality after buying Miami hotel for $36M

  by Francisco Alvarado on September 6, 2024

  MG Developer is entering the hospitality sector after paying $36 million for a hotel near Miami International Airport. Coral Gables-based MG, led by Alirio Torrealba and Diego Torrealba, acquired Regency Miami Airport by Sonesta, a five-story hotel with 176 rooms at 1000 Northwest 42nd Avenue, records and real estate database Vizzda show. The deal breaks The post MG Developer expands into hospitality after buying Miami hotel for $36M appeared first on The Real Deal.

• Lennar in contract to buy Barry University land, downsizes proposed project to 277 townhomes

  by Lidia Dinkova on September 6, 2024

  Lennar proposes a 277-townhouse development on Barry University land in Miami Shores, marking a significant downsizing of the homebuilder’s previously planned project.  Miami-based Lennar is under contract to buy about 24 acres of Barry-owned land immediately west of the university’s main campus at 11300 Northeast Second Avenue, according to a Barry spokesperson and a project The post Lennar in contract to buy Barry University land, downsizes proposed project to 277 townhomes appeared first on The Real Deal.

• Rreef sells Pembroke Pines multifamily complex for $110M — a 9% discount from purchase price two years ago

  by Lidia Dinkova on September 6, 2024

  Rreef Property Trust sold a 368-unit apartment complex in Pembroke Pines for $110 million, marking a 9 percent discount from its purchase price two years ago.  The deal comes as South Florida’s multifamily market is turning from the boom times of the past four years. Higher interest rates, elevated property management and upkeep costs, and The post Rreef sells Pembroke Pines multifamily complex for $110M — a 9% discount from purchase price two years ago appeared first on The Real Deal.

• Summer slump: Miami-Dade condo sales volume drops in August to $470M 

  by Adam Farence on September 6, 2024

  Miami-Dade County’s condo sales, dollar volume, and price per square foot fell all last month amid the summer slump. August condo sales totaled $470 million, falling from $624 million in July. Brokers closed 712 sales last month, down from 810 sales in July and 839 in June, Multiple Listing Service data from Redfin show. August The post Summer slump: Miami-Dade condo sales volume drops in August to $470M  appeared first on The Real Deal.

• Resi roundup: Former auctioneer Leslie Hindman sells Palm Beach home

  by Kate Hinsche on September 6, 2024

  In the latest roundup of South Florida luxury residential deals, pioneering Chicago auctioneer Leslie Hindman sold her Palm Beach house for $9.8 million. Other luxury deals were in Fort Lauderdale and Delray Beach. Sales ranged in price from $8.7 million to $13.8 million.  Fort Lauderdale In Fort Lauderdale, the family of a late real estate The post Resi roundup: Former auctioneer Leslie Hindman sells Palm Beach home appeared first on The Real Deal.

• Elliman’s Eklund-Gomes team taking over sales of SoLé Mia condo tower

  by Katherine Kallergis on September 5, 2024

  Douglas Elliman’s Eklund-Gomes team is taking over sales and marketing of One Park Tower, a luxury condo building under construction at SoLé Mia, a master-planned community in North Miami, The Real Deal has learned.  The mega team, led by Fredrik Eklund and John Gomes, will take over from Edgardo Defortuna’s Fortune Development Sales later this The post Elliman’s Eklund-Gomes team taking over sales of SoLé Mia condo tower appeared first on The Real Deal.

• Publix bags two more South Florida shopping centers for $67M

  by Francisco Alvarado on September 5, 2024

  Publix filled up its real estate cart with more South Florida shopping centers, paying a combined $67 million for a pair of Palm Beach retail properties anchored by its stores.  The sites are part of Publix’s recent $224 million purchase of a seven-shopping center portfolio across Florida that includes two retail properties in Davie acquired The post Publix bags two more South Florida shopping centers for $67M appeared first on The Real Deal.

• Hammocks receiver scales down HOA oversight, settles suits against vendors accused of aiding alleged fraud

  by Lidia Dinkova on September 5, 2024

  The Hammocks, the embattled West Kendall homeowners association where former board members allegedly ran a massive fraud, has exited receivership. But that doesn’t mean it is back to being fully independent from outside oversight.  David Gersten, who became the Hammocks receiver nearly two years ago following the arrests of five people accused of fraud, is The post Hammocks receiver scales down HOA oversight, settles suits against vendors accused of aiding alleged fraud appeared first on The Real Deal.

• Jeff Greene fires back at One West Palm’s former project manager

  by Francisco Alvarado on September 5, 2024

  Billionaire Jeff Greene is hitting back at the general contractor previously overseeing his One West Palm mixed-use project.  Greene’s development entity 1370 South Ocean on July 29 countersued Coral Gables-based Kast Construction in Palm Beach County Circuit Court. Greene’s complaint alleges Kast mismanaged construction of the planned $3 billion two-tower complex at 550 South Quadrille The post Jeff Greene fires back at One West Palm’s former project manager appeared first on The Real Deal.