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    • Rockpoint sells 1221 Brickell office tower for $287M, marking a six-year record price June 24, 2022
      Rockpoint sold a Brickell office tower for $286.5 million, marking a record for South Florida office deals since 2016. Boston-based Rockpoint sold the 28-story building at 1221 Brickell Avenue in Miami to a Delaware-registered entity led by Randall Davis and listing a Palm Beach address, according to records. The deal follows another mystery entity — […]
      By Lidia Dinkova
    • Rising rents: Miami’s industrial market leads nation with highest annual rate hike: report June 24, 2022
      Miami’s industrial market, which includes all of Miami-Dade County, is the nation’s top performer for annual rent growth, according to a JLL report. Year-over-year, the Miami industrial market experienced a 53 percent jump in rent, more than Los Angeles, which had the second highest rent hike at 45 percent, and New York/New Jersey, which had […]
      By Francisco Alvarado
    • Estate Companies’ Pompano Beach, Hollywood apartment projects advance June 24, 2022
      The Estate Companies is moving forward with two Broward County multifamily projects. The South Miami-based company scored final approval for a 253-unit Pompano Beach development at 208 North Federal Highway, and also secured an $80 million construction loan for a 324-unit downtown Hollywood apartment building at 2001 Hollywood Boulevard. The eight-story Soleste Pompano Beach will […]
      By Lidia Dinkova
    • Investor buys waterfront Bal Harbour mansion for $15M, plans to renovate it and flip it for $30M June 24, 2022
      Real estate investor Michael Klinger hopes to nearly double his money, renovating and flipping a waterfront Bal Harbour house he purchased for $15.4 million. Saber South Bay I LLC and Saber South Bay II LLC, both managed by Klinger, bought the home at 56 Bal Bay Drive from 56 Bal Bay Drive LLC, a New […]
      By Kate Hinsche
    • Saddled with $260M debt, Pembroke Lakes Mall could be in trouble: Morningstar June 24, 2022
      An exodus of tenants and diminished net cash flow could spell trouble for the owner of Pembroke Lakes Mall, which is saddled with a $260 million interest-only loan that is due in two years, according to a recent Morningstar report. New York-based Brookfield Properties acquired Pembroke Lakes Mall in 2018 when the firm bought shopping […]
      By Francisco Alvarado

The week in luxury: A map of Miami-Dade’s priciest condo sales

Home sale prices in Opportunity Zone jump 25%

Mortgage interest rates dropped last week and may stay down for months