The Miami hotel market is one of the hottest in the country and beyond. As a recent article in Law360 reports, downtown Miami in particular is playing a big part in the resurgence of the market. The city’s urban core, an area that was once overlooked and saw little development during the economic downturn, is… Continue Reading
Category Archives: Real Estate Investment & Land Development
Subscribe to Real Estate Investment & Land Development RSS FeedCash Deals, French Interest Increasing in South Florida Real Estate Market
Bienvenue! Bienvenido! Bem-vindos! Welcome to Miami – where cash is king Buyers from across the globe continue to hone in on South Florida as a hot market for real estate investment. Canadians, Brazilians, and now the French are investing heavily in the South Florida market. And, as the New York Times reported this past weekend,… Continue Reading
Thank You For Joining Us For Our New Miami Breakfast Series | Hospitality
Thursday, June 13, 2013 8:00 AM – 10:00 AM 1450 Brickell Avenue, 23rd Floor Miami, FL 33131 Thank you for joining us for the second installment of the New Miami Breakfast Series. Hospitality: A Bird’s Eye View of Miami and Beyond Miami is one of the most active hotel investment markets in the country and… Continue Reading
Spike in Real Estate Creates Tax Planning Opportunities for South Florida Property Owners
Although it may come as a surprise to many, it is no secret that South Florida property values are on the rise. Over the past few years, wealthy Latin Americans and other foreign investors have turned their investment focus to the depressed real estate market in South Florida. Once a market that was flooded with thousands… Continue Reading
Revisions To Mortgage Foreclosure Procedures in Florida
HB 87, a controversial foreclosure bill that passed the Legislature, was signed into law by Governor Rick Scott on June 7, 2013 to become Chapter 2013-137 of Florida laws. The most significant portion of this law refines the use of an order to show cause as an alternative to a traditional foreclosure procedure and extends… Continue Reading
Miami Travel Market on the Rise
Warm weather and great events seemed to lure visitors this spring as Miami ranked #1 in March among the top 25 markets nationally for Average Daily Rate (ADR) at $238.12, Revenue Per Available Hotel Room (REV PAR) at $212.20 and Hotel Room Occupancy at a high 89.1%. Even more telling, the ADR increased 14.4% and… Continue Reading
InterContinental Miami Hotel: Evolving Alongside Miami as it Comes-of-Age as a World Class City
This is a guest post by Robert Hill, General Manager of the InterContinental Miami, one of the city’s longest standing hotels in the heart of its urban core. With ties to international trade and commerce, increased sophistication, entertainment and culinary excellence, and its renewal as a domestic and international tourist destination, Miami’s hospitality market is… Continue Reading
Size Does Matter: Jumbo Lending Up in South Florida
Jumbo loans (loans above conforming loan limit of $417,000 in Miami-Dade and Broward Counties) increased by 31% year-over-year in 2011 to 3,782 jumbo loans originated in South Florida. This accounted for nearly half of the overall home loan growth according to Compliance Technologies’ database of Home Mortgage Disclosure Act (HMDA) filings. Jumbo Loans More Appealing… Continue Reading
Three Florida Homeowners and Condo Associations Bills Passed by the 2013 Legislature
Three condominium and homeowners bills were passed by the Florida legislature: House Bill 73, Senate Bill 120, and House Bill 7119. One of the bills, Senate Bill 120, is currently before the Governor for review. Two of the three bills (HB 73 and HB 7119) inserted the Division of Florida Condominiums, Timeshares and Mobile Homes (“Division”) into the governance of… Continue Reading
“JOLT” Act Seeks to Lessen U.S. Travel Restrictions for Brazilians, Canadians
While Canadians still comprise the number one group of foreign buyers of real estate statewide in Florida, América Economía is now reporting that Brazilians have surpassed Canadians as the top overseas visitors and property buyers in Miami. Currently, U.S. business industry groups are aggressively lobbying the U.S. Congress to make it easier for Canadians and… Continue Reading
Experts Predict Increased Growth in Miami Hotel Market in 2013
The Miami hotel market continues to be one of the most active hotel markets in the country. The impact from tourism and Miami’s location as a gateway city continue to attract real estate investors and the activity is expected to increase throughout 2013. As noted in recent articles in Law 360 and the South Florida… Continue Reading
New Legislation Facilitates Public-Private Partnerships
Earlier this month, the Florida legislature passed House Bill 85, which establishes statewide authorization and procedures for public-private partnerships. The law, which will be encoded as Section 287.05712, Florida Statutes, authorizes counties, municipalities, school boards, and other political subdivisions and entities to form public-private partnerships with the private sector to develop, operate, or maintain any facility… Continue Reading
Hidden State Tax Trap on Real Estate
Miami residents have a long history of escaping to cooler climates during the summer months. While the advent of central air conditioning has made regular visits to the north more of a luxury than a necessity, vacation homes in such exotic locations as North Carolina, Maine, Vermont, Massachusetts and New York remain as popular as… Continue Reading
Court of Appeal Makes Condominium Association Foreclosures More Costly
The Third District Court of Appeal recently issued an opinion that is a game changer for third-party purchasers of condominium units at foreclosure sales. The Third District’s opinion in Aventura Management, LLC v. Spiaggia Ocean Condominium Association, Inc., Case No. 3D11-2545 (Fla. 3d DCA 2013), absolves third-party purchasers of responsibility for a prior owner’s past-due maintenance,… Continue Reading
Florida Real Estate Market a Hot Spot for Canadian Investors
The Florida real estate market remains a prime target for Canadian investment, with a particular focus on South and South West Florida. These Canadian purchasers are being credited with playing a role in the rebound of the Florida housing market, which has seen a 12% increase since its April 2011 low. Indeed, notwithstanding competition from South… Continue Reading
Proposed Florida Public-Private Partnerships Law Continues to Move Through Legislature
We recently wrote about the Florida House and Senate bills regarding public-private partnerships that are currently under consideration. As a brief update, House Bill 85 was approved on Tuesday by the House Appropriations Committee. It is next scheduled to be considered by the State Affairs Committee, and from there, it could be considered for adoption… Continue Reading
Miami-Dade County Road Impact Fees to Increase 30% on April 22, 2013
Understanding the current fees Miami-Dade County imposes road impact fees on new developments in both unincorporated and incorporated areas of the County, subject to any applicable exemptions or credits, which may reduce or eliminate the fee due. Road impact fees must be paid prior to obtaining a building permit for new construction and are often… Continue Reading
Federal Aviation Administration to Propose Height Regulations
As development in Miami’s core returns, many developers are concerned with what appears to be a review by the Federal Aviation Administration (FAA) height regulations, which could impose restrictions to the maximum allowable heights. However, the FAA is not being clear on what exactly its intended revisions to the regulations may be, causing additional angst… Continue Reading
New Federal and State Programs Will Boost Public-Private Partnership Development
President Obama Emphasizes the Value of Public-Private Partnerships Last Friday, President Obama visited Miami and, speaking at the Port of Miami, detailed his proposals for increased public-infrastructure spending through public-private partnerships. Although the President envisions traditional financing approaches for certain projects, he continues to emphasize the importance of P3s to rebuild our aging infrastructure and… Continue Reading
Florida Property Owners: Be Aware of This Procedure Before Filing a Construction Defects Claim
Claims for Construction Defects in Florida One of the most frustrating events for a residential homeowner, or a commercial property owner, is the day that they find construction defects on their property. From that time forward, the steps that are taken by the property owner to preserve all available evidence and claims against the responsible… Continue Reading
Miami’s Commercial Real Estate Women Are Driving the Deals
Margaret Nee serves as the 2013 CREW-Miami President and is Vice President of Development at Pointe Group Advisors based in Coconut Grove, Florida. While many studies continue to indicate that parity gaps still exist between men and women in the commercial real estate industry – primarily in terms of salaries and the levels of positions… Continue Reading
South Florida Law Firms Team Up In Support of United Way of Miami-Dade
The Bilzin Sumberg Dodge Squad is getting set to square off against three other South Florida law firms in an upcoming dodgeball tournament to raise funds for the United Way of Miami-Dade. On March 13, we will vie for the title of Dodgeball Champion 2013 alongside Akerman Senterfitt, Carlton Fields and Greenberg Traurig at 5:30… Continue Reading
Alternative Water Supply Needed in South Florida
As groundwater all but disappears in South Florida and the region continues to grow, creating alternative water systems is an urgent issue. A recent Department of Economic Opportunity report calls for a strategy to ensure future adequate water supplies without stunting continued development and construction, but many of the large scale solutions require alternative and… Continue Reading
Public-Private Partnerships in Good Times
In prior posts, we have explained that the proliferation of public – private partnerships in recent years has been due, in part, to the financial stresses placed on local governments during that same period of time. The logic is straightforward enough. Local governments rely on public facilities, such as ports and convention centers, to generate revenue. … Continue Reading