ORLANDO-Brazilian developer Sergio Naya made a last-minute offer of $24.6 million for his unfinished, twin-building Sandy Lake Towers hotel-condo complex but U.S. Bankruptcy Court Judge Karen S. Jennemann denied the offer, ruling Nava missed the April 24 deadline.
MIAMI-The Palm Beach Gardens-based REIT showed a 20% growth in funds from operations for the three months ended March 31, putting the prison developer in good financial shape, company president Charles R. Jones says in a prepared statement. Palm Beach Gardens is 90 miles north of Downtown Miami.
ORLANDO-The Blue Bell, PA-based telecommunications firm installed a high-speed Internet access system over 65 acres in four weeks at the $450 million, 1,406-room, three-month-old hotel and convention center owned by Nashville, TN-based Gaylord Entertainment Co. near Walt Disney World.
ORLANDO-The 19-year real estate professional will handle horizontal and vertical construction and the permitting of the company's retail property developments in the north Florida submarkets of Panama City and Tallahassee.
ORLANDO-The founder/chairman of Realvest Partners Inc. suggests developers/owners should prepare their properties for renewed demand as the national economy continues to improve in 2003. New residential construction will remain strong but the office sector will remain soft throughout next year, the developer tells GlobeSt.com.
ATLANTA-The Aurora, CO-based developer/investor purchased eight 17-year-old, 100%-leased buildings for an estimated $70 per sf at Westgate Industrial Center, Fulton Industrial Center, Dekalb Industrial Center and Gwinnett Industrial Center. Buyer-seller wouldn't disclose the price to GlobeSt.com.
MIAMI-Ten of the assets sold to individual investors are in the Southeast with the average price at $2.93 million. The New York-based multifamily developer/investor, with a strong South Florida presence, has held the properties since the early 1980s.
ORLANDO-Michael B. Vlass of Altamonte Springs Investments LLC and the city of Altamonte Springs are offering management of the eight-story, 277-room hotel covered parking for guests and shared signage with the planned 24-acre project at three separate sites. No money changed hands on the three-way deal.
MIAMI-The New York-based multifamily owner/developer sees the 160-unit, eight-story Meridian complex, being developed by Triad Housing Partners in Hollywood, FL, as a healthy investment and a motivator for other developers in a niche sector of the shelter industry. The project breaks ground April 24.
ORLANDO-Chicago-based General Growth Properties Inc., owner of the 28-year-old, 1.3-million-sf regional shopping center, seven miles north of Downtown Orlando, has contracted with AMC Entertainment Inc. to jointly develop an 18-screen movie theater that has been on hold for the past two years.
