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Tag Archives: Real Estate

Positive Report for South Florida Commercial Real Estate

TREPP Analytics recently provided the U.S. commercial real estate industry some positive news – both the CMBS delinquency rate and seriously delinquent loans are down. The delinquency rate as of June 2014 is 6.05% (compared to 8.65% a year ago), with seriously delinquent down to 5.92% from 8.37% last year.  This decrease is seen across… Continue Reading

SEC Enacts Rule that Loosens Restrictions on Marketing Condo-Hotels

Good news for condo-hotel developers, as a new SEC rule substantially creates new business opportunities for developers and real estate brokers marketing condo-hotels. Condo hotels offer private individuals the opportunity to purchase a condominium unit for personal use part of the year and for rent to the general public as part of a hotel when… Continue Reading

What Drives Value In Miami’s Hospitality Industry?

CREW Miami’s May Luncheon focused on important new trends in the Miami hospitality industry, all stemming from Miami’s ascent as a global destination.  Guest speakers included Max Comess, Director at HFF; Gina Goodin, Associate Vice President of RTKL & Associates; Thomas Meding, Area General Manager of SBE Hotel Group; and Wendy Kallergis, President & CEO of… Continue Reading

Increased Density Mixed-Use Development the Future of Wynwood

Miami’s Planning, Zoning and Appeals Board has approved a change in the city zoning ordinances that would allow the densest mixed-use building in the area to be constructed. The application still requires approval before the City Commission. The Board voted 7-1 in favor of developer Wynwood 250‘s request for a zoning change, giving it the ability… Continue Reading

Florida’s Revenue System Outlined in New Report

The Leroy Collins Institute has published a report that outlines their view of the state’s revenue system and its potential misuse. The report, entitled “Tougher Choices: Shaping Florida’s Future,” builds on a 2005 Institute report which warned that the state’s revenue system was overly reliant on the booming housing market and influx of construction due… Continue Reading

Miami’s Building Boom

While the rest of the country is slowly pulling itself out of recession, Miami is in the midst of a building boom that not only signifies its strong recovery, but is putting South Florida on par with New York City as a global power center. At the time of the 2008 economic downturn, Miami had… Continue Reading

Good News for Grove Isle Condo Owners

Grove Isle condo owners, who have been in the middle of a battle over a proposed 18-story condo tower which will replace the low-rise Grove Isle Hotel & Spa, received some good news when the Third DCA overturned the dismissal of Grove Isle Association’s 2009 lawsuit against the owners and former and present managers of Grove Isle’s… Continue Reading

Miami’s Golden Age

Recently Arden Karson, a Senior Vice President of The Related Group’s Acquisitions, Distressed Debt and Strategic Opportunities Division and the Project Manager for Brickell Heights Condominium, spoke about the latest in-depth analysis of South Florida’s condominium market prepared by Related ISG. Entitled “2020: The New Miami,” the analysis focuses not only on the condo market,… Continue Reading

Canadian Investment Firm Building Upscale Mobile Home Parks in Florida

As ties between Canada and Florida continue to strengthen, Canadian investment in the region continues to increase. Tricon Capital Group, the Canadian company whose profit rose five-fold last year after betting on U.S. housing in the depths of the slump, now plans to expand into upscale mobile home parks in Florida. Tricon has announced that… Continue Reading

Rebounding South Florida Real Estate Market Fuels Employment

The numbers in a recent South Florida jobs report confirmed what all of the new building cranes going up have indicated - the real estate market is back in South Florida.  According to a recent Miami Herald article, the construction industry is helping to fuel Miami-Dade County’s job growth.  The construction industry added 2,400 new jobs in Miami-Dade… 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

Real Estate Professionals Navigating the New 3.8% Medicare Tax

With a new year comes a new beginning. While New Year’s Day is typically viewed as a chance to start fresh and make changes in our personal lives, for many people New Year’s Day in 2013 took a different tone. Instead of focusing on making New Year’s resolutions, many Americans were focused on the “fiscal… Continue Reading

CREW-Miami Helps Women Make Strides in Commercial Real Estate Sector

A recent article in the Daily Business Review by CREW-Miami (Commercial Real Estate Women) president Maria Juncadella highlights the strides that women have made in the commercial real estate industry, a sector that was traditionally dominated by men. For instance, Maria points out that women are entering commercial real estate at a faster pace than they were five years ago… Continue Reading

Rilea Group Wins Urban Land Institute’s 2012 Project of the Year Award

Congratulations to Rilea Group, real estate developer of the office tower 1450 Brickell, on receiving the prestigious Project of the Year Award by Urban Land Institute, Southeast Florida/Caribbean. The award recognizes the real estate project that best embodies the mission of the Urban Land Institute: ensuring the responsible use of land in an effort to create sustainable, thriving communities…. Continue Reading

Sale of New World Tower in Downtown Miami

My colleagues, Jim Shindell and Krista DeCastro, reported on this Blog about three recently closed office building transactions in the Miami area. One additional transaction can be added to that list, as further evidence of the resurgence of commercial property activity in south Florida. On August 16, 2012, control of the New World Tower located… Continue Reading

Tax Structuring of Foreign Investment in South Florida Real Estate

Foreign Investment In South Florida Real Estate Heats Up According to a recent report, international buyers are driving sales at several large real estate projects in South Florida. The 200-unit Trump Hollywood sold out less than two years after lenders foreclosed on the 41-story oceanfront tower. In Miami-Dade County, all 1,800 units at Icon Brickell… Continue Reading

South Florida Retail Properties Attracting Lenders

Although attendees at the recently held International Council of Shopping Centers (ICSC) Florida Conference reported seeing a slow recovery ahead for the state’s retail sector, several local retail properties have been able to attract new lenders and take advantage of record low interest rates. Somerset Shoppes in Boca Raton, Florida was able to refinance its… Continue Reading