The biggest transaction is the purchase of the Aviah Flagler Village apartments in Fort Lauderdale by a Hialeah-based group for more than $67.5 million.

The transaction includes the sale of two adjacent properties for $8.64 million, bringing the total deal to nearly $90 million.

The second quarter return is a "major reversal" from the negative 1% in the previous quarter and made for the second biggest swing in the past 94 quarters, according to Trepp.

One Park Grove, the third and final condominium tower at the Park Grove community, is complete with 80% of contracts closing.

"I think that traditional capital markets have much less power than they did before."

Dozens of unsold units at the beachfront condo-hotel are expected to end up in the hands of the lender, which offered a $43 million credit bid in a bankruptcy auction that drew no bidders.

Factors that bode well for homebuildings include record low mortgage rates and a limited home inventory coupled with increased demand from residents who continue to work from home.

The university in late June said it's closing the North Miami location where it offers culinary and other hospitality degrees.