07/08/08

February 2008

Condo Plan B: Timeshares

Many South Florida condo developers are operating properties as rentals until the market improves—or selling units in bulk (often at big discounts) to investors likewise looking to rent them out until the market changes...
By Brad Berton

Investors find profit

High-net-worth individuals, pension funds, developers, hedge funds and institutions from around the world are all sniffing about the South Florida market, trying to snap up deals.
By Robyn A. Friedman

Sunny Isles bucks trend

Once marked by low- and midrise motels, Sunny Isles Beach now hosts high-rise resorts with dozens more luxury condo towers, retail shops and waterfront restaurants coming on line. But will the local economy bust before the dust even settles on redevelopment projects?
By Jennifer LeClaire

Historic downtown Miami post office is for sale

Downtown Miami's post office building, the circa-1912 historic landmark that served as the city's original Federal Courthouse, post office and weather bureau, is on the market.
By Mary Duan

Miami taps into earth-friendly side with city's greenest tower

A 1.5 million-square-foot office-hotel-condo complex under construction in Miami's financial district will combine eco-friendly materials with luxury amenities.
By Becky Bergman

Month in Review

Commercial and residential real estate news briefs from the most active South Florida markets

Downturn_spells

Overseas buyers bolster sagging market

South Florida real estate brokers have long known that the international market is thriving. However, while the domestic housing market was booming, few did anything to tap into this lucrative market. But times are changing. Quickly.
By Tracey C. Velt
More ›

Office market continues to hold its own in South Florida

According to reports recently issued by brokerage CB Richard Ellis Inc., the South Florida office market is holding its own— and even prospering in areas— due to continued strong fundamentals. But there are some signs of weakness. Corporate bankruptcies, downsizings and the downturn in the economy haven't taken a major toll on the office market here —yet.
By Robyn A. Friedman

Condo woes sink Hollywood project

Condo_woes_sink_hollywood_project__magbox

The condominium crash is throwing a wrench in Downtown Hollywood's revitalization efforts. Condo projects that once saw people lining up around the block for pre-construction deals are now struggling to close. Some may sit dark despite the buzz of restaurants and retail shops surrounding them.
By Jennifer LeClaire

The Closing: Jorge M. Perez

The_closing_perez_magbox

Founder, chairman and CEO of the Related Group, Florida's top multifamily developer and the largest Hispanic-owned business in the United States. Since its formation over a quarter of a century ago, Related has built and/or managed over 70,000 apartments and condominiums.

Norten adds his high energy

Enrique Norten can't slow down. With offices in New York City and Mexico City, a chaired professorship at the University of Pennsylvania School of Design, a family and children in Pennsylvania, and multiple projects for everything from private homes and museums to libraries and skyscrapers in cities throughout the world, the award-winning Mexican-born architect has neither the time nor the volition to stand still these days. By Mary Duan

Sotheby's faces off vs. Black

Hell hath no fury like a real estate broker scorned, especially when it involves a multi-million dollar deal, the client refuses to pay the commission and the FBI makes an appearance at the closing. By Jennifer Gould Keil

Are we at bottom yet?

Despite fears that South Florida's economy could be on the brink of a crippling recession, there is reason for optimism, albeit cautious optimism. That is the consensus among a cross-section of real estate, banking and academic experts contacted by The Real Deal.

Westfield buys into South Florida

An Australian mall owner has expanded its portfolio by snapping up two South Florida shopping centers, apparently betting efficiencies associated with its clustering strategy and its willingness to invest in upgrades will offset difficulties in the retail climate.
By Becky Bergman

AmEx campus sold to German firm for $73 million

KanAm Grundinvest Fonds, an active German real estate investment fund, has acquired the American Express campus in Plantation for $73 million, or about $194 per square foot.
By Brad Berton

A d v e r t i s e m e n t s