Francisco Alvarado

1 week ago | therealdeal.com | Francisco Alvarado

Greystar is jumping into Broward County’s industrial submarket after paying $30.5 million for a Coconut Creek development site. An affiliate of Charleston, South Carolina-based Greystar, led by CEO Bob Faith, acquired roughly 36 acres on the corner of Lyons Road and Atlantic Boulevard, records and real estate database Vizzda show. The buyer also obtained a $63.1 million construction loan from Truist Bank.

1 week ago | therealdeal.com | Francisco Alvarado

Raoul Thomas’ troubled CGI Merchant Group sold 65 distressed commercial units in a Coral Gables mixed-use building for $28.5 million, staving off a pending foreclosure, The Real Deal has learned. Miami Beach-based Elysee Investments, led by CEO Haim Yehezkel, bought the units, consisting of retail and office spaces on the first three floors of Ten Aragon Condominium at 55 Miracle Mile, according to two sources familiar with the deal. Yehezkel confirmed the purchase in a brief phone call.

1 week ago | therealdeal.com | Francisco Alvarado

Integral Group is close to securing a 99-year ground lease to build a $159 million multifamily project in Coconut Grove. The Miami-Dade County Commission is set to vote Tuesday on an agreement with an Integral Group affiliate to redevelop a 24-unit Section 8 housing community at 3666 Day Avenue in Miami.

1 week ago | therealdeal.com | Francisco Alvarado

13th Floor Investments and Barings secured $125 million in financing for a Miami multifamily project that’s under construction. A syndicate of Santander Bank and TD Bank provided the loan for Cadence, a planned 35-story tower with 432 mixed-income apartments at 3100 Douglas Road. It’s part of Link at Douglas, a 7-acre mixed-use project adjacent to the Douglas Road Metrorail Station in Coconut Grove, a press release states.

2 weeks ago | therealdeal.com | Francisco Alvarado

EQT Real Estate picked up a pair of Broward industrial sites, including an Amazon distribution center, for a combined $55.3 million. In Deerfield Beach, Radnor, Pennsylvania-based EQT, led by Per Franzén, dropped $37.9 million for a 158,000-square-foot facility completed in 1985, records and real estate database Vizzda show. The building, which Amazon leases for delivery sorting, was renovated in 2020. The deal breaks down to $239 a square foot.