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CLIENT NEWS: Comras buys Lincoln Road retail portfolio for $140M, plans redevelopment

November 20, 2025

Michael Comras is planning a major renovation of a Lincoln Road portfolio his namesake firm acquired for $140 million. Comras declined to confirm the purchase price, which was provided to The Real Deal by a source familiar with the transaction. Miami Beach-based Comras Company bought 11 storefronts at 600, 719–737, 741, 801–821 Lincoln Road and 723 North Lincoln Lane, a press release states. The firm financed the purchase with a $117 million loan from San Francisco-based Acore Capital. The seller,[...]

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CLIENT NEWS: Lionstone, Flag Luxury and Ben-Josef land $61M loan for Ritz-Carlton South Beach

September 23, 2025

Lionstone Group, Flag Luxury Group and Ben-Josef Group scored a $61.2 million predevelopment loan for their planned Ritz-Carlton Residences, South Beach project, The Real Deal has learned. BHI, the U.S. branch of Israel’s Bank Hapoalim, is providing the financing, according to a press release. The developers received approval for the project at 1671 Collins Avenue in 2023. The plans include the construction of a new 15-story, 30-unit condominium and the redevelopment of the 101-key Sagamore Hotel into a 55-room Ritz-branded[...]

CLIENT NEWS: Ultra-exclusive country club in Miami Beach plans new clubhouse

September 10, 2025

The La Gorce Country Club has submitted an application to the Miami Beach Design Review Board to construct a new 74,000-square-foot clubhouse at its property at 5685 Alton Road. The proposal, which would replace an existing 45,000-square-foot clubhouse, is scheduled to be heard by the board on Sept. 11. According to a letter of intent filed on behalf of the club by attorney Michael Larkin of the Miami-based law firm Bercow Radell Fernandez Larkin & Tapanes, the La Gorce requests[...]

CLIENT NEWS: Developer seeks rezoning to build hotel on Calle Ocho

September 8, 2025

The owner of a property in Miami’s Little Havana wants to rezone the site to build a hotel on popular Calle Ocho. The city’s Planning, Zoning and Appeals Board voted 6-1 in favor of the rezoning on Sept. 3 and it will need City Council approval at a later date. The application was filed by 1630 Southwest 8 Street LLC, owned by Gediminas Bulota in Miami Beach, concerning the 15,763-square-foot site at 710 S.W. 16th Ave. It wants to rezone[...]

CLIENT NEWS: Developers buy out majority of older Miami Beach condo building

September 8, 2025

Miami-based Terra and New York-based JDS Development Group teamed with real estate investors Rafi Gibly and Gianluca Vacchi to buy out a majority of the condos in the Bay Garden Manor Condominium in Miami Beach. According to a source with knowledge of the deal, the price was about $120 million, including the purchase of a neighboring hostel as part of the development agreement with the city. Northwind Group announced that it financed the deal for 1250 West Ave. with a[...]

CLIENT NEWS: Alirio Torrealba revs up MG Developer’s South Florida pipeline

September 4, 2025

When Alirio Torrealba got started in the real estate business in South Florida, he had neither experience in development nor proficiency in English. He somehow still led the wave of new townhome and condo development in Coral Gables, before expanding into multifamily. Just a decade after its founding, his Coral Gables-based MG Developer is sitting on a project pipeline of more than $500 million, which stretches into Hialeah, Miami, Doral and North Bay Village.Torrealba has veered into a faster lane[...]