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Colliers adds John Smotryski in Miami
Colliers International South Florida has hired John Smotrysky as the company’s new director of project management, the firm announced. Smotryski, a certified building contractor and LEED-accredited...
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Miami construction contracts rise 54 percent: report
The total volume of construction contracts in the Miami-Fort Lauderdale-Miami Beach has reached $2.29 billion for the year to date, a 54 percent increase over the same period in 2011, according to a...
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HFF tapped to market Florida office properties
A Germany-based company has chosen HFF to market two office properties in Florida. HFF will be marketing the 61,145-square-foot Pelican Bay Financial Center in Naples and the 166,391-square-foot...
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Construction on Miami Beach H&M store set for completion by end of November
The project to convert the former Lincoln Theatre in Miami Beach into a flagship H&M clothing store has begun construction. By the end of November, the 35,000-square-foot building, which was...
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Aventura-based investor buys Deland’s Arlington Square apartment complex
The Arlington Square apartment complex in Deland has been sold for $780,000, according to Marcus & Millichap, which brokered the deal. The 34-unit complex, which is located at 302 South Spring...
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Kona Grill taps SRS Real Estate Partners to lead Florida expansion
National restaurant chain Kona Grill is expanding its presence in Central and South Florida, and has tapped Dallas-based SRS Real Estate Partners to lead the charge. The company operates 23 restaurants...
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Mortgage rates drop to 41-year low
U.S. mortgage rates hit record lows today, following the Federal Reserve’s announcement earlier this month that it would be buying up mortgage-backed securities, Bloomberg News reported. The average...
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Trump buys Kluge estate mansion adjacent to his family’s vineyard
Donald Trump yesterday purchased the mansion on the Kluge estate in Charlottesville, Va., the Washington Post reported. The real estate magnate had already owned the vineyard, Trump Winery, and other...
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Homestead abandons old City Hall to mold
Homestead is getting a new City Hall, thanks to $2 million worth of cancer-causing radon gas, pervasive mold and asbestos found in the building, the Miami Herald reported. On Monday the City Council...
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QE3 probably won’t do much: Flexner
Thomas FlexnerQE3, the Fed's third round of quantitative easing, won't do much to lift the real estate market, according to Thomas Flexner, the global head of real estate at Citigroup, who appeared...
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Kim Kardashian, Kanye West looking at homes together in Miami: report
Celebrity couple Kim Kardashian and Kanye West are looking for a home in Miami, TMZ reported. The reality star and hip-hop mogul are reportedly seeking a waterfront home in the range between $7...
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Phoenix Apartments rental community in Homestead sells for $7.45 million
The Phoenix Apartments community in Homestead has been sold for $7.45 million to Riverfront Capital IV, a limited liability company, according to CBRE, which represented seller Heritage Phoenix in the...
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State Street Realty completes 300,000 square feet of deals in Airport West
Miami-based commercial brokerage State Street completed more than 300,000 square feet of office and industrial sale and lease transactions in the Airport West submarket of Miami in August and...
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Ares Commercial closes $47 million in financing on Miami office building
Ares Commercial Real Estate Corporation has closed on a $47 million first mortgage loan that is collateralized by a Class B office property in Brickell, the company announced Tuesday. The deal, which...
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Salsa Fiesta continues SF expansion at Aventura’s Biscayne Harbour
South Florida-based Mexican eatery Salsa Fiesta will soon be heading to Aventura, according to Eater. The restaurant, which has already opened branches in Miami and in Pembroke Pines, is set to debut...
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Blackstone Group closes largest-ever real estate opportunity fund at $13.3B
Private equity giant the Blackstone Group has closed the largest real estate opportunity fund ever, GlobeSt.com reported. The Blackstone Real Estate Partners VII fund closed at $13.3 billion; The...
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Banks allow for more write-downs of commercial real estate loans
More lenders are allowing write-downs for outstanding loans that were given to commercial real estate investors. Analysts attribute the trend to improving rental and vacancy rates, among other factors,...
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Horse Country developer withdraw plans
The developer that had proposed a shopping center in Horse Country to locals’ chagrin has dropped its plans, the Miami Herald reported. Pan-American had asked for Miami-Dade County and the County...
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Latin Americans look to commercial properties
Latin American investors have long buoyed Miami’s residential market through turbulent times, but now South Florida’s commercial properties are also benefiting from capital originating south of the...
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Today’s priciest new listing
Today’s priciest new listing is a two-bedroom, two-bathroom, 2,235-square-foot condo in the Turnberry Ocean Colony that is asking $2.4 million, according to Condo Vultures. The waterfront condo, which...
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