A high-rise hotel known as “MB Resort” could take shape near Walt Disney World Resort. Our sources indicate that current plans call for a 19-story tower overlooking Lake Bryan to the east. The tower would measure 200 feet above grade, offering 199 rooms.
Forman Capital has issued an $8.36 million pre-development bridge loan secured by a residential development site along North Miami Avenue in Miami’s Arts & Entertainment District. The borrower, Royal Palm Companies (RPC), led by Dan Kodsi, plans to develop a 40-story condo-hotel on the properties, likely under the Elevate brand. The transaction was finalized on August 16, with Chief Investment Officer and Partner Scott Mehlman, along with Vice President Ty Regnier, closing the financing on behalf of Forman Capital.
The Adderley, an affordable housing development in Tampa, has nearly finished construction and will welcome residents in late September. Construction began on the venture in March 2023, a partnership between Blue Skies Communities and the City of Tampa.
A development site in Miami’s Blue Lagoon area, previously approved for apartments and a hotel, is now facing foreclosure and is set to be auctioned due to a $17.9 million lawsuit. Miami-Dade County Circuit Court Judge Thomas J. Rebull granted the foreclosure judgment on August 10 in favor of TIG Romspen US Master Mortgage against 7 at Blue Lagoon LLC and loan guarantor Caroline Weiss. The judgment is tied to a loan with $13.2 million in outstanding principal and additional interest and fees. The court found that the borrower failed to repay the loan by its maturity date on October 1, 2022, and neglected to pay real estate taxes from 2020 to 2022.
The Weston City Commission heard the proposal for Gables Weston on August 19th, where an affiliate of Atlanta-based Gables Residential wanted to have the parcel rezoned from high-rise multi-family to planned development district.
