Excerpt from Commercial Observer Website: Watson Island, a prime publicly owned enclave between Downtown Miami and South Beach, may finally be getting a makeover. A joint venture between BH3 Management and Merrimac Ventures purchased the 75-year ground lease for a 10.8-acre parcel on the island from Flagstone Property Group. The pair declined to disclose the financial terms of the deal, […]
Excerpt from Commercial Observer Website: Caliber Companies has snagged a big catch, just before Super Bowl LVII kicks off at nearby State Farm Stadium. Maxim Capital Group and Beach Point Capital Management have provided a $55 million bridge loan to the sponsor for three of its airport hotels in Phoenix, Commercial Observer has learned. Read […]
Excerpt from ConnectCRE Website: Cushman & Wakefield advised Fine Properties of New York in procuring $35,000,000 construction completion and condo-inventory financing for The Elisa, a 25-unit condominium property located at 251 W. 14th St. in Chelsea. The two-year loan with two six-month extension options was provided by Maxim Capital Group. Read the full article here: […]
Excerpt from The Real Deal Website: Kushner Companies and Aimco sold a piece of their three-lot development assemblage near downtown Fort Lauderdale’s Brightline station. Woodfield Development paid $18.3 million for the 0.8-acre site at 520 West Broward Boulevard, with plans to build a 41-story multifamily tower, according to records. The buyer took out a $9.1 […]
Excerpt from Commercial Observer Website: If Josh Greene could pick one New York City neighborhood in which to invest in housing right now, it would be Flushing in Queens. “I think it’s amazing. There’s been so much growth in Flushing,” he said. “It’s one of those communities that’s been insulated from what’s going on. It […]
Alchemy Properties South, in partnership with New Valley Realty, has purchased two properties located in Raleigh for a combined $16 million. The site of the properties, which include a vacant lot at 303 S. Dawson St. and an adjacent retail building at 217 W. Martin St., will be redeveloped as a luxury residential building to […]
ASAP Holdings nabbed $32 million of acquisition financing to purchase and redevelop a 293-key hotel in Austin, Texas, Commercial Observer has learned. Beach Point Capital Management and Maxim Capital Group provided the acquisition and redevelopment loan for ASAP’s newly acquired Radisson Austin North. ASAP purchased the hotel from Lockwood Companies for $38.5 million. The property is five minutes from downtown Austin and […]
Excerpt from The Real Deal website: Aimco added the final piece to its Flagler Village development site where the company plans a major mixed-use project. Denver-based Aimco bought 1.4 acres of land on the southwest corner of Northeast Ninth Street and Northeast Fifth Avenue in downtown Fort Lauderdale for $16 million, according to a deed. […]
Excerpt from the Commercial Observer website: Hot-shot residential broker-turned-developer Michael Shvo tapped star architect Norman Foster for his Alton Road project in Miami Beach. Earlier this month, Shvo, in partnership with Deutsche Finance America, paid $39.3 million for a five-property assemblage between Lincoln Road and 17th Street, according to the developer. The properties, at 1290 Lincoln Road, 1656 Alton Road to 1680 Alton Road, as […]
Excerpt from The Real Deal website: New York and Miami developer Michael Stern secured an $86 million loan for his planned mixed-use Brickell tower called 1 Southside Park. New York-based Maxim Capital Group provided the acquisition and construction financing to Stern’s JDS Development Group, according to a press release. The 64-story tower, between Southwest 11th […]
Excerpt from Yahoo Finance website: JDS Development Group (JDS) announced today that it has secured $86,000,000 in acquisition and construction financing from Maxim Capital Group for 1 Southside Park, the transformative full city-block development in Miami, Florida in the highly desired Brickell neighborhood. Imagined by JDS Development Group, working with a world-class design team of […]
Excerpt from The Real Deal website: The Renwick Hotel has arisen after its new owner reportedly scored a “substantial discount” to acquire the property. Capstone Equities reopened the hotel at 118 East 40th Street last month, the Commercial Observer reported. The hotel is operated by the private equity firm’s hospitality management arm, Rebel Hospitality. The […]