7 stories on south florida in commercial real estate.
BHI provided a $67.5M construction loan to Constellation Group and The Boschetti Group for Cora Merrick Park, a 74-unit boutique condo project in Coral Gables.
MG Developer and Vertical Developments have secured a $100 million construction loan from Benmark Capital to finance Alhambra Parc, a 74-unit luxury mixed-use condominium project in Coral Gables. The three-year financing package will fund the development located at 33 Alhambra Circle, just north of the city's downtown district.
Dutch investor Breevest acquired the 266-unit Avida Aventura apartment complex in Miami-Dade for $110M, or about $413K per unit, from Chicago developer Fifield.
Related Group and BH Group secured a $360M construction loan from Tyko Capital for Icon Beach Waterfront Residences in Hollywood, Florida.
Maxx Properties acquired the 250-unit Ellery apartment complex in Plantation, FL from Bell Partners for $70 million, with a $55.1 million Fannie Mae loan arranged by CBRE.
Three developers — Forest Development, Sonnenblick, and Related Urban — submitted competing proposals for 12 acres of Riviera Beach waterfront at Marina Village.
Spira Equity Partners and Foundation for Affordable Housing paid $50.5M for The Falls of Bonaventure, a 300-unit complex in Weston, FL.