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Boca Raton Office Building Trades for $23.7M
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An office building in the revitalized Park at Broken Sound in Boca Raton, FL has sold for almost $23.68 million, or more than $204 per square foot. As CoStar News first reported last month, Mainstreet Capital Partners and the Davis Cos. had a deal to sell 900 Broken Sound Pky NW to an institutional investor […]

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Nearly Out of Vacant Land, Broward County Embraces Redevelopment
www.costar.com

An aerial shot of the 140-acre site around the BB&T Center in Sunrise, FL. Broward County is looking for a designer and developer for the land. Credit: Broward County. Wedged between the Florida Everglades and the Atlantic Ocean, Broward County is one of the most land-constrained areas in the Sunshine S

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Tishman Affiliate Adds Three Orlando Hotels to Central Florida Portfolio
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Credit: Tishman Tishman Select Partners (TSP), an affiliate of New York-based investor Tishman, acquired three Orlando hotels from locally-based Kalson’s Hospitality for $81 million, or about $202,500 per key. The three properties included in the portfolio are the 133-key Homewood Suites Orlando Theme Parks, the 130-key Homewood Suites Lake Buena Vista and the 137-room Hilton […]

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South Florida’s Innermost Suburbs Benefit from Affordable Housing Shortage
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This renovated, 2-Star property in Little Havana was able to increase rents 74 percent over the cycle. Photo credit: Metro Consulting & Management. It is no secret that South Florida has an affordab

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Millionaires’ Tax
www.selectleaders.com

Think the elimination of the state tax deduction on federal returns will affect real estate? New York City just upped the challenge proposing an additional Millionaires’ Tax. Seattle passed a similar tax and Massachusetts will vote in November. Expensive cities may learn a lesson from their neighbors to the North. Vancouver is so expensive their […]

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Miami Apartment Developer Secures $85M Construction Loan
www.costar.com

Melo Group said it has secured an $85 million construction loan from Ocean Bank to build the Art Plaza Apartments, a planned 667-unit, transit-oriented development in downtown Miami. Art Plaza, at 58 NE 14th St., will feature two 34-story towers with ground-floor retail and restaurants. Amenities will include a resort-style swimming pool, a fitness center, […]

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Miami a Top Metro for Latin American Investment
www.costar.com

The Tamiami Metro building was purchased in 2017 for $7.9 million by Tamiami Metro USA LLC, an Argentinian investment group. When it comes to Latin American investment dollars, Miami is a top target

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New U.S. Housing Index Underscores Long-Term Demand for Multifamily
www.costar.com

If a study by professors at two Florida universities is any indication, demand for multifamily housing should hold steady for the foreseeable future. Across much of the country, consumers who rent and reinvest the potential savings [versus mortgage payments] can build wealth faster than people who buy homes and build equity, according to the latest […]

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National Apartment Rent Growth Remains Strong
www.costar.com

Landlords continue to benefit from booming apartment demand, as U.S. apartment rent growth averaged 2.9 percent between May of 2017 and 2018. While landlords haven’t been able to push rents like it’s 2015 anymore, the country is eight years into this economic cycle and rents continue to outperform their average in the face of increased […]

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Police sent to home of Parkland school shooting survivor David Hogg in hoax 'swatting' call
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//delivery.vidible.tv/jsonp/pid=56c21811e4b009d9eacb4ef9/vid=5b16a90d4deb1a226c5473e0/5643911267b62318603bce5a.js?m.embeded=cms_video_plugin_releases.aol.com Florida cops came to the home of school shooting survivor David Hogg early Tuesday after a hoax “swatting” call claimed there was a hostage situation at the residence. Read more…

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