BD Hotels has secured a $75 million construction loan to develop a 201-room hotel, the Nora Hotel, in the emerging NORA District of West Palm Beach. Metropolitan Commercial Bank provided the loan, which JLL’s Steven Klein and Mark Fisher arranged for financing. BD Hotels is working with NORA District master developers NDT Development, Place Projects, and Wheelock Street Capital.
Newbond Holdings (Newbond), a real estate and hospitality-focused investment platform, announces the acquisition of the Aloft Tampa Downtown Hotel. This transaction marks Newbond’s third hotel investment on the Downtown Tampa riverfront in the last 24 months, totaling more than 700 hotel rooms and over 800 feet of frontage on the Hillsborough River. Located on the Riverwalk in Downtown Tampa, the 130-key hotel offers abundant indoor and outdoor amenity space, including a waterfront pool and gym, corporate meeting and event space, and a bar and lounge. Newbond is planning a comprehensive hotel renovation to include all guestrooms, public areas, and the pool deck.
Property Markets Group and E11EVEN Partners have secured a hefty $262 million construction loan and turned the first dirt on their second tower, E11EVEN Residences Beyond. This significant step forward paves the way for adding a remarkable 700-foot, 65-story skyscraper to Miami’s skyline, set to rise at 90 Northeast 11th Street in District 11 at Park West. Sieger Suarez Architects design the project, which will contain 550 residential units featuring interior design by AvroKO. John Moriarty & Associates is the general contractor.
EDEN Living, a venture set to revitalize the build-to-rent sector, is preparing to meet surging demand in the expanding Tradition community of Port St. Lucie through a joint venture with Westport Capital Partners affiliates. The partnership has recently procured a nearly 20-acre site to establish 214 townhome-style units.
Nearly 25 years since launching in the heart of Downtown Miami, preeminent law Firm Bilzin Sumberg is doubling down on its Florida growth strategy with a significant office lease that will preserve its position as one of the central tenants at the 1450 Brickell office tower. The firm has renewed its lease for nearly 84,000 square feet of space at the Class A building, representing one of the largest law firm footprints in Miami’s urban core. Bilzin Sumberg’s renewal of its lease coincides with an influx of residents, companies, and investment into South Florida, with the Firm pursuing a strategy of steady growth that has solidified its role as a catalyst for business and wealth migration.
