Suzanne Amaducci-Adams, leader of the Real Estate Practice Group at Bilzin Sumberg, frequently catches people by surprise when they hear that her group has closed on more than $2 billion in commercial real estate loans so far in 2016 despite what many describe as a Miami market that’s cooling down. “When are people going to … Continue Reading
Lincoln Road property values are soaring to new heights with tenant rents and property prices at record highs. Dating back to the 1920s, Lincoln Road has seen its share of transitional decades, but experts say this time it’s noticeably different: “[i]n the realm of commercial real estate, Lincoln Road has taken its place among the … Continue Reading
With all the current and planned building projects taking place in South Florida, it seems the recent real estate crash has largely been forgotten. However, the collapse still haunts traditional lending institutions, many of whom are unwilling or unable to finance Miami’s present building boom. Further, as Jeff Bartel, chairman of Benworth Capital Partners LLC … Continue Reading
At the Beacon Council’s annual One Community One Goal Meeting, national retail department store Macy’s announced that it will be bringing its fashion incubator to Miami in order to foster and keep talent in Miami. In its two other locations in Chicago and Philadelphia, the Macy’s incubator has served as a residency on the business … Continue Reading
No longer are the major hotel flags of the world the only ones taking their talents to South Beach. Boutique hotels are becoming the focus of the Miami hospitality market at a time when investors are pouring millions into Miami real estate. The small boutique hotels that line Collins Avenue and Ocean Drive in Miami … Continue Reading
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
Ten years ago, attorney Michael Kreitzer represented a developer who was faced with an injunction on its development of a high-rise apartment building on the south side of the Miami River after it was discovered that the Tequesta Indians had occupied the site, soon to be known as the “Miami Circle” approximately 2,000 years earlier. That … Continue Reading
A recent article published in the Miami Herald reflects growing support to form a public-private partnership (P3) to save the national passenger rail system. To some, this statement may sound puzzling, as the national passenger rail system has been controlled by Amtrak, a public-private entity, since 1971. Amtrak, however, is not a public-private partnership, and … Continue Reading
As Suzanne Amaducci-Adams wrote in a previous blog post, the average daily occupancy rate, average daily room rate (ADR) and revenue per available room (RevPAR) numbers for Miami each had a significant increase for the first seven months of 2013 over 2012. As you can see in the chart below, Miami is in outstanding company when … Continue Reading
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
