Monthly Archives: August 2012

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

Miami Beach Convention Center Seeking P3 for Re-Development

Convention Centers Look to P3s to Become More Competitive Globally The PPP Bulletin recently reported that the city of Los Angeles is considering forming a public-private partnership with a private-sector entity to manage the Los Angeles Convention Center. We recently discussed the advantages of using P3s for large government projects, and a Los Angeles official … 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

Miami Beach and Luxury Hotel Market – A Sizzling Combination

When you think of great combinations in Miami Beach, you think of classics, both new and old, like perfect weather and perfect bodies, the Fontainebleau Hotel and the Rat Pack, Ocean Drive and Art Deco, pasty unprotected skin and blistering sunburns, café and Cubano, the Miami Heat and world championships, world class boating and low … Continue Reading

Miami’s Office Market: Recovery Underway

The increasingly significant office market is just one of the many sub-sections of Miami’s real estate market that is making its way back. The 2012 report on Miami’s office market, prepared by Jones Lang LaSalle for the Commercial Industrial Association of South Florida (CIASF), provides great insight into Miami’s office market. In the report’s summary, … Continue Reading

Miami Ranked in Top 3 U.S. Hotel Markets

With Miami’s sandy beaches, cultural sophistication and international exposure, it is no surprise that the city has positioned itself in 2012 as a sought-after domestic and international tourist destination. Miami is outperforming national averages and standing out as one of the top markets for hospitality in the U.S. According to data assembled by Smith Travel … Continue Reading

Exit Tax & Expatriation From The United States

Earlier this month, Denise Rich, the wealthy socialite, songwriter and former wife of pardoned billionaire trader Marc Rich, renounced her U.S. citizenship in order to expatriate from the United States and save money on taxes. With an increase in taxes expected to occur in 2013 and the multitude of foreign countries offering a desirable lifestyle (with … Continue Reading

Miami Developers Using The “Brazil Method”

Just four years after condominium development in South Florida completely froze, development is back and heating up quickly. With the median sales price of condominiums in Miami-Dade County up 34% in June compared to the prior year and the amount of available inventory down 29% according to the Miami Association of Realtors, developers are moving … Continue Reading

Three High-Profile Office Deals in Miami

The resurgence of Miami’s real estate market continues apace. From high-profile office deals to high-priced residential closings, the market is vibrant. Here are three significant deals that have taken place recently in Miami’s office sector: 1.     In the largest office deal since 2008, Crocker Partners purchased the 34-story, 786,267-square-foot Miami Center located at 201 S. Biscayne Blvd. … Continue Reading

Expiration of the Current Estate Tax Exemption Amount

Under current governing law, every individual has a $5,120,000 lifetime gift tax exemption, which amounts to a $10,240,000 combined lifetime exemption for married couples.  But the current lifetime gift tax exemption amount is scheduled to revert back to $1,000,000 in 2013.  That makes the remaining months of 2012 a prime time for Miami residents to … Continue Reading