El-Ad National Properties has acquired the property at 3265 Virginia Street in Coconut Grove for $45.5 million, marking the South Florida-based developer’s entrance into the Miami neighborhood and establishing the site as a future redevelopment opportunity. The acquisition closed on May 14, 2026, with El-Ad 3265 Virginia LLC acquiring the property from WNG Miami LLC. Omar Morales of Berkadia represented the seller in the transaction.

Yesterday, the West Palm Beach Plans & Plats Review Committee reviewed plans for a mixed-use development that would offer homes and retail.

Merrimac Ventures, in partnership with Southern Waters Capital, has secured $62.5 million in construction financing from ACORE CAPITAL and broken ground on Leena Ocala, a 360-unit multifamily development planned for a 36-acre site at SW 60th Avenue and SW 52nd Street in Ocala, Florida. The garden-style apartment and townhome community will include 300 apartments across multiple three-story buildings and 60 two-story townhome residences, with first deliveries expected in late 2027 and full completion anticipated in 2028.

Fairstead has announced the $54.7 million acquisition and planned rehabilitation of Silver Oaks Apartments, a 200-unit affordable housing community at 4200 Kenneth Court in Tampa, Florida. The Hillsborough County property is governed by Section 8 and Low-Income Housing Tax Credit affordability restrictions, with all apartments reserved for households earning up to 60 percent of the Area Median Income. Renovations are expected to begin in Q2 2026 and reach completion in Q3 2027.