CLIENT NEWS: Developer proposes multifamily, hotel tower in Edgewater

March 25, 2024

An affiliate of Urbanica Hotels has proposed a 35-story, mixed-use tower in the Edgewater neighborhood of Miami. The city’s Urban Development Review Board considered plans for the 0.93-acre site at 3200 N.E. Biscayne Blvd., 237 and 229 N.E. 32nd St., and 246 and 230 N.E. 33rd St. on March 20. The property is owned by Miami-based Green Circle Development LLC, which is led by executives at Urbanica Hotels. The site currently has three older apartment buildings with a combined 22[...]

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CLIENT NEWS: Chetrit scores $15M for Miami River $1B mixed-use project

March 25, 2021

The Chetrit Group is pushing forward with its long-planned mixed-use Miami River mega-project, as it just scored a $15 million construction loan, bringing its total financing to $70 million. Chetrit Group, through affiliate MC Miami River, secured the loan from MSD PCOF Partners XXXIV, an affiliate of MSD Partners, a mortgage record shows. The loans adds to New York-based Chetrit Group’s financing for the project, after it secured a $55 million pre-development loan two years ago from New York-based real estate investor[...]

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CLIENT NEWS: Developers seek to expand Miami-Dade development boundary by 792 acres

March 12, 2021

Several developers want to expand Miami-Dade County’s urban development boundary by 792.2 acres to create thousands of jobs at a new business park on the southern end of the county. Moving the UDB is a big ask, as it requires a two-thirds vote of the County Commission and often draws opposition from activists concerned about over development. However, the application for the South Dade Logistics and Technology District states that it would provide much-needed employment opportunities in south Miami-Dade, where[...]

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CLIENT NEWS: Treehouse Hotel, cousin to 1 Hotel, to make U.S. debut in Brickell in 2025

March 10, 2021

Treehouse Hotel plans to make its U.S. debut in Miami in 2025. The nature-inspired hotel brand owned by Miami-based Starwood Capital Group’s SH Hotels & Resorts is coming to Brickell’s 1 Southside Park development. The project will be 62 stories tall and have 191 rooms, the company said. SH Hotels & Resorts also owns the 1 Hotel South Beach brand. The only other Treehouse hotel opened in London in 2019. Construction on the Brickell hotel at the 1105-1133 SW Second[...]

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CLIENT NEWS: Here’s how much Suntex paid for Monty’s Raw Bar and adjacent marina in Coconut Grove

February 19, 2021

Suntex Marina Investors bought the long-term lease for Monty’s Raw Bar and Prime Marina Miami in Coconut Grove for $14.7 million, records reveal. Dallas-based Suntex Ventures purchased the 70-year lease for the marina, also called Bayshore Landing, at 2550 South Bayshore Drive earlier this month. Aligned Bayshore Raw Bar LLC, tied to Jose Hevia’s Prime Marina Group, sold the property. Records show Aligned Bayshore Raw Bar assigned the lease to Coconut Grove F&B LLC, a Delaware corporation signed by Bryan[...]

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CLIENT NEWS: Iconiq buys Related and Block Capital’s Wynwood apartments for $77M

February 18, 2021

San Francisco investment firm Iconiq Capital paid $77 million for a mixed-use apartment building in Miami’s Wynwood neighborhood. Related Group and Block Capital Group sold The Bradley Wynwood, a 175-unit building that was previously leased to short-term rental operator Domio, to Iconiq. Domio, which shut down last year, had a 10-year master lease with extension options. In October, Related and Block Capital listed the building at 51 Northwest 26th Street for sale with a whisper price of about $90 million, before Domio shuttered. Berkadia[...]

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