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Newmark Adds to Valuation/Advisory Practice with New Teams, Hires in NYC and Florida
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Newmark Knight Frank (NKF) has announced the addition of two new valuation and advisory teams based in New York City and the Florida markets of Boca Raton and Miami. The newly formed Tri-State team includes industry veterans Matt Victor, Joe Ferranti and Jeff Mayer. Victor, a senior managing director, will lead the tri-state multihousing team […]

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Noble Bolsters National Hospitality Portfolio with 109-Room Downtown Tampa Buy
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Noble Investment Group, which specializes in acquiring extended-stay hotels affiliated with Marriott, Hyatt, Hilton and Intercontinental brands, acquired the Residence Inn by Marriot Tampa Downtown. The Atlanta-based firm acquired the 109-key hotel from Dallas-based Ashford Hospitality Trust (NYSE: AHT) for $24 million, or about $220,000 per room. Ashford originally acquired the downtown Tampa hotel in […]

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First Quarter Performance Shows US Apartment Market Coming Back to Earth
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Pictured: Camden North Quarter in Orlando. The 333-unit property sold to Camden Property Trust in February for $80.75 million. Orlando has the highest forecast rent growth in the country, according to CoStar. The high-flying apartment sector, which led all other property types in the economic recovery and became the darling of investors, is coming back […]

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SunTrust International Center Sells for $127M
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SunTrust International Center, a 4-Star office tower in downtown Miami, has sold for $127 million, or roughly $283 per square foot, to institutional investor PCCP LLC. The seller, Crocker Partners, paid $82.5 million as part of an auction sale in 2011 that valued the office property at roughly $54.79 million, or about $122 per square […]

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Frisbie Group Catches Former Charley's Crab Bldg in Palm Beach
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Frisbie Group has acquired the Charley’s Crab restaurant building at 456 S. Ocean Blvd. in Palm Beach, FL from BCD Investors for $26 million in an all-cash deal. The 1.15-acre site is currently improved with an 8,967-square-foot, freestanding retail property that was built in 1928, directly across from the beach. The buyer, a Palm Beach-based […]

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Promenade at Wyndham Lakes Sells for $88.5M
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AEW Capital Management acquired the Promenade at Wyndham Lakes Apartments located at 11500 NW 56th St. in Coral Springs, FL from Starwood Capital Group for $88.5 million, or about $267,000 per unit. The 406,447-square-foot multifamily property consists of 332 apartment units. The property was delivered to the market in 1999 and a renovation was completed […]

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South Florida Firm Buying Land for Large Office Project in Dania Beach
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Miami-based Integra Investments LLC is finalizing a deal to buy land for up to 500,000 square feet of Class A office space at the $800 million Dania Pointe mixed-use development in Dania Beach, FL, CoStar News has learned. Integra is acquiring the five-acre site from Kimco Realty Corp., the master developer of the project rising […]

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688-Unit Apt. Complex Coming to Long-Vacant Miami River Site
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Courtesy: Mast Capital.A $26 million land deal that closed late Thursday clears the way for a large rental development along the revitalized Miami River. Mast Capital bought the 6.3-acre site at 1001 NW 7th St. in Miami’s Little Havana neighborhood from RAD Miami. Mast already has site plan approval for Miami River Walk, featuring four […]

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Wellington Apts. in Palm Beach County Trade for $120 Million
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The Quaye at Wellington, a 4-Star garden apartment complex in Wellington, FL, has to settle for second place in Palm Beach County’s price-per-door sweepstakes over the past 12 months. Tampa-based HG Management’s $120 million sale to Stockbridge Capital Group LLC works out to $342,857 a unit. Only 850 Boca’s $372,972-per-door price was higher in the […]

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Canadian Investor Pays $9.2 Million for Fiesta Plaza in Westshore
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Toronto-based Dundas Real Estate Investments acquired the Fiesta Plaza in Tampa’s Westshore submarket from Ellis & Company, LTD for $9.15 million, or about $83 per square foot. Located at 4001-4058 N. Armenia Ave., the 103,298-square-foot shopping center was originally built in 1987. Major tenants located at Fiesta Plaza include Fresco y Mas, Family Dollar, H&R […]

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