Articles by Oscar Nunez

Berkadia Arranges $100M Construction Loan For Omega Real Estate To Develop The Gardens Residences In North Miami

8:00 am on July 7, 2022 By Oscar Nunez

Berkadia announces it has arranged $100 million in construction financing, provided by Churchill Real Estate, for Omega Real Estate Management to develop The Gardens Residences, a 9-story, 358-unit mid-rise apartment community designed by Behar Font & Partners with 1,100 square feet of ground floor retail in North Miami, Florida. Located on a 4-acre site at 1155 Northeast 126th Street, just off the Biscayne Boulevard corridor at the gateway to Bay Harbor Islands and Bal Harbour, The Gardens Residences is the first phase of Omega’s plan to transform seven contiguous acres in North Miami into a live-work-play community called “The Gardens District.” Ground breaking is scheduled for July 11, 2022, and is expected to create 828 jobs.

Citadel Revealed As Buyer Of 2.5-Acre Development Site At 1201 Brickell Bay Drive In Miami

8:00 am on July 6, 2022 By Oscar Nunez

The buyer behind the last remaining prime water front development site in Brickell, 1201 Brickell Bay Drive, has been revealed to be Citadel, a multinational hedge fund and asset management company led by CEO Ken Griffin. The 2.5-acre site sold for a record-breaking $363 million back in April 2022, but the buyer’s identity was hidden behind a Chicago-based limited liability company. Miami-Dade County property records now show the site was sold by TWJ 1201 LLC, an entity linked to Tibor Hollo’s Florida East Coast Realty (FECR), to 1201 Brickell Bay LLC. Hollo paid $15,500,000 for the site nearly 22 years ago, yielding an approximate 2300% profit.

FAA Permits Filed For 44-Story LOFTY Brickell Tower At 99 SW 7th Street In Miami, $170 Million Construction Loan Secured

8:00 am on July 5, 2022 By Oscar Nunez

FAA building permits have been filed for LOFTY Brickell, a 44-story residential building planned for 99 Southwest 7th Street along the Miami River in Brickell, Miami. Designed by Arquitectonica with landscape architecture by Urban Robot Associates and interiors by INC for real estate developer Newgard Development Group (Newgard), the 574-foot-tall tower will ultimately contain 364 fully-finished residences in a variety of studio, one- and two-bedroom units, as well as 40,000 square feet of thoughtfully curated amenities. Newgard has also secured a loan valued at $170 million from 3650 REIT to begin construction at the site.

HTG Completes Father Marquess-Barry Apartments, An Affordable Housing Community In Overtown, Miami

8:00 am on July 4, 2022 By Oscar Nunez

Housing Trust Group (HTG), an award-winning multifamily developer and one of the nation’s largest developers of affordable housing, recently held an official grand-opening for the completion of Father Marquess-Barry Apartments, a $18.5 million affordable housing community for seniors located at 301 Northwest 17th Street in the historic Overtown neighborhood of Miami. Designed by Modis Architects with interiors by B Pila Design Studio and landscaping from JBC Planning and Design, Father Marquess-Barry Apartments contains 60 one- and two-bedroom residential units with rents ranging from $372 to $1,200 per month for income-qualifying seniors ages 62 and up who earn 40 percent and 60 percent of area median income. The property leased up rapidly and is 100 percent occupied.

Innovation Tower’s Exterior Nears Completion At 225 E. Rollins Street In North Orange, Orlando

8:00 am on July 3, 2022 By Oscar Nunez

Exterior work is nearing the finish line on Innovation Tower, a 12-story state-of-the-art medical office building at 225 East Rollins Street in North Orange, Orlando. Designed by HuntonBrady Architects and developed by Peachtree Corners, Georgia-based Meadows & Ohly, the 149-foot-tall structure will yield 326,000 square feet of space housing a mix of medical offices, research and testing centers, healthcare centers and hospital uses. The project is part of AdventHealth’s 172-acre Health Village community just minutes north of Downtown Orlando that comprises apartments, a hotel, additional hospital beds, medical office spaces, general office space and retail shops. Batson-Cook Construction is the general contractor.

Oak Row Equities (Formerly Carpe Real Estate Partners) Acquires 2.1-Acre Edgewater Assemblage For Mixed-Use Development

8:00 am on July 2, 2022 By Oscar Nunez

Carpe Real Estate Partners, a vertically integrated real estate private equity and development company, founded by Erik Rutter and David Weitz in 2018, announced a rebrand to Oak Row Equities. The name change comes as the company continues to mature from its launch in 2018 with one property under management to now over three million square feet under development and one billion dollars of assets under management. In addition to the rebrand, Oak Row Equities announced that it has closed on the acquisition of a 2.1-acre site on one of the last remaining undeveloped city blocks in the urban core. The firm acquired 2600 Biscayne Boulevard in Miami’s popular Edgewater neighborhood for $35 million to develop a mixed-use project designed by architecture firm Arquitectonica. Oak Row Equities is one of Miami’s fastest-growing real estate development firms with active projects in Wynwood, North Miami Beach, Edgewater, and the Design District.

Forest Development Announces Joint Venture Partners And Closing Of $269 Million Construction Loan For 24-Story Nautilus 220

8:00 am on July 1, 2022 By Oscar Nunez

Forest Development announced that it has engaged in a joint venture partnership with Royal Palm Companies for Nautilus 220, a two-towered condominium development of 24 stories at 220 Lake Shore Drive in Lake Park, Florida. The mixed-use development is designed by R+N Architecture with Interiors by Steven G. and landscaping from Insite Studio, and comprises 330 condominium residences across both towers with restaurants, retail, and offices alongside a marina. A $269 million construction loan from Fortress Investment Group LLC has closed for Nautilus 220, with financing arranged by Concord Summit Capital.

Kolter Urban Breaks Ground On 42-Story Art House In The Heart Of Downtown St. Petersburg

8:00 am on June 30, 2022 By Oscar Nunez

Palm Beach, Florida-based real estate development and investment firm Kolter Urban has broken ground on Art House, a 42-story luxury condominium development located at 200 Central Avenue in the heart of Downtown St. Petersburg. Designed by SB Architects with interiors by ID & Design International Interior Design and landscaping by Kimley-Horn Landscape Architects, the 450-foot-tall development will deliver 244 spacious residential units in a variety of two- and three-bedroom layouts, including 12 lavish penthouse units. The ground floor will be activated with 6,000 square feet of retail and restaurant space, and the tower will sit atop an 8-story parking garage for 482 vehicles. Coastal Construction is the general contractor, projecting to complete construction and deliver the project by late 2024.

Artist Michele Oka Doner And Artaic Collaborate On Public Art Display At FIU In Miami

7:30 am on June 30, 2022 By Oscar Nunez

American artist Michele Oka Doner and Charlestown, Massachusetts-based mosaic manufacturer Artaic recently collaborated on a new public art display at Florida International University in Miami. The art piece, titled “The Third Day’, is on display along the exterior façade of the university’s Academic Health Center 4, a 6-story, 137,000-square-foot cast-in-place facility designed by Perkins+Will and constructed by DPR Construction. The stunning mosaic mural can be seen at a prime focal point on campus, located on the northern ground floor frontage of the building along University Drive with East Campus Circle.

830 Brickell Tops Off At 55 Stories In Miami’s Brickell Financial District

8:00 am on June 29, 2022 By Oscar Nunez

Construction has topped off on 830 Brickell, a 55-story Class A+ office tower underway in Miami’s Brickell Financial District. Designed by renowned architecture firm Adrian Smith + Gordon Gill and Revuelta Architecture International as the architect of record, with interiors by Italian architecture and design company Iosa Ghini Associati, and developed in partnership by OKO Group and Cain International, the 724-foot-tall structure will yield 640,000 square feet of space and now stands as the tallest office building in Brickell and the first standalone office building to be developed in Miami’s urban core in more than a decade. Civic Construction Company Inc. is the general contractor and is projecting to complete construction later this year.

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