Excerpt from The Real Deal website: The Chetrit Group sold a Miami Beach apartment hotel to its operator for $42 million, The Real Deal has learned. Royal Stays Miami, led by Yedidiah Buchwald, acquired the 104-key property at 1000, 1020 and 1030 Collins Avenue, according to a source. Royal Stays has been operating the property […]
Excerpt from the Commercial Observer website: Electra America Hospitality Group has snapped up The Roger New York hotel in Midtown for $19 million, Commercial Observer has learned. The company — a joint-venture between Florida-based Electra America and AKA Hotel Residences — closed on the sale of the leasehold interest of the 193-room hotel at 131 […]
Excerpt from the Commercial Observer Website: Copperline Partners has closed a deal to purchase the Edgewater House Apartments in Palm Beach, Fla., Commercial Observer has learned. The acquisition, which closed last week, comprises the 37-unit building plus the land below the property, which is located at 2720 South Ocean Boulevard. The firm secured $17.5 million […]
Excerpt from the Hartford Business Journal website: A proposed construction project would convert the former Hartford Marriott Farmington into a mixed-use apartment building featuring a new restaurant and function hall space. CLP Farmington LLC bought the three-story building for $10.5 million, with the intention of converting it into 224 units of market rate studio, one-, […]
Excerpt from the Real Deal website: The Chetrit Group scored a financing lifeline for its long-planned Collins Park hotel redevelopment, The Real Deal has learned. New York-based Chetrit landed a $62.5 million construction loan for the project, according to sources. Chetrit has owned the property for nearly a decade. Maxim Capital Group, which declined to […]
Excerpt from the Commercial Observer Website: Property Markets Group has closed on its acquisition of a large development site in the Gowanus neighborhood of Brooklyn, Commercial Observer has learned. Maxim Capital Group provided $18.5 million in financing for the deal, which encompasses acquisition, building and project loans, sources said. The site, which comprises 267 Bond […]
Excerpt from Metechi Website: As a professional in the ever-changing CRE NPL market, it is vitally important to stay up-to-date on the latest trends and shifts in the industry. While reports, newsletters, and news media can be beneficial, one of the best ways to stay plugged in is by following the leaders in the industry. […]
Excerpt from The Commercial Observer website: New York City-based 601W Companies has nabbed a $27 million refinance for an industrial property in Chicago’s South Loop neighborhood, Commercial Observer has learned. Maxim Capital Group provided the loan for the transaction, while Meridian Capital Group brokered the deal. Located at 717 – 737 S Desplaines Street, the 4.6-acre site […]
Excerpt from the Commercial Observer: “Game of Thrones” characters once warned us that “Winter is coming.” We just didn’t know at the time that they were referring to this winter; a winter quite unlike any other, and a stark contrast to the sunny, springlike market conditions experienced in the years running up to COVID-19 hitting our shores.
A member of the Jack Parker real estate family bought a waterfront Miami Beach teardown for $7.5 million. Clara Homes took out a loan from Maxim Credit Group LLC.
Calderon, president and CEO of Neology Life, is planning to build 16 Allapattah, with 323 apartments, a 336-space parking garage, about 13,000 square feet of retail space and nearly 7,000 square feet of office space on the site. The Miami Urban Development Review Board approved plans for the 12-story project last month.
Whereas out-of-control prices led to a slow condo-sales market, the high prices investors paid during the recovery may lead to more deals down the line. Buyers who got out over their skis and are holding out for retail rents that they’ll never achieve may be forced to sell, said Brian Steiner, a principal at the alternative lender Maxim Capital Grou