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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: Miami Beach developers nab $345M construction loan for 500 Alton

March 26, 2021

Miami Beach developers Russell Galbut and David Martin scored a $345 construction loan for their planned residential tower at the entrance to South Beach, marking one of the largest loans to close in South Florida during the pandemic, The Real Deal has learned. Galbut’s GFO Investments and Martin’s Terra are partnering on the project at 500 Alton Road, formerly home to the South Shore Hospital site. The 519-foot tower, which would be the largest in Miami Beach when it’s completed in 2023, is now[...]

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[...]

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[...]

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[...]

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[...]