Heimstaden Bostad AB is buying the residential property portfolio in the Czech Republic.

The transaction expands Prologis' position in key markets across the US.

"New construction is expensive in Central Florida so if you can find an asset which could be repurposed taking advantage of some existing structures, land uses, infrastructure, they become desirable for redevelopment."

"Since zoning is already in place for education and there is a high demand for school real estate in Miami, the interest was very strong by school users and investors with school tenants."

The Las Olas Boulevard property north of the New River has liberal zoning allowing for residential, retail, hotel and offices.

The nearly 400,000 square foot office is owned by JBG Smith.

While capital likes multifamily and industrial, most CRE sectors, even retail, have a positive story.

In times of trouble, US real estate can be seen as a safe harbor. But domestic political uncertainty presents other challenges.