LAUDERDALE-BY-THE-SEA, FL-TIR Sales & Marketing is the sales and marketing agency for the 15-story Ocean Place Condominium, a luxury project that formerly was the Kensington Apartments here. Units start in the $200,000s.
BOCA RATON, FL-In the second quarter, the company's net income available to common shareholders was $15.3 million, compared with $4.4 million for the same quarter last year.
FORT MYERS, FL-The Benchmark Group of Amherst, NY paid $90,319 per unit to American Properties of New Jersey for the 408-unit property, built in 2001. The property probably could have fetched $40 million, according to Jamie May, chairman and CEO of Naples-based JBM Realty Advisors.
PALM BEACH, FL-Net income for the locally based hotel REIT was about $2.7 million in the second quarter, up from a net loss of about $4.6 million in the same period last year. Funds from operations rose 223.1%.
SUNNY ISLES BEACH, FL-The 130 units in the North Tower of the luxury condominium project here have been sold. Each tower in the oceanfront project will consist of 37 stories. Units are selling for $1.4 million to more than $4 million.
MIAMI-A New Jersey partnership led by the Morris Cos. paid an average of about $135.65 per sf for the two centers, with a total of 294,875 sf. The two centers--Wedgewood Commons in Stuart and Concourse Village in Jupiter--are 95% and 100% occupied, respectively.
AVENTURA, FL-The financing, provided by Corus Bank NA, will refinance units that haven't been sold at Hamptons South, a 28-story, 250-unit, luxury condominium project completed here late last year.
MIAMI-The five-year office lease, at Airport Corporate Center, a large mixed-use business park here, is worth about $859,000. It brings the more than one-million-sf park to 88% occupancy.
CORAL SPRINGS, FL-Tulepan Management plans to lease the 55,000-sf building--formerly occupied by Albertson's and then Milam's Market--to national credit tenants after it is subdivided and refit. The property sold for about $111.82 per sf.
FORT LAUDERDALE, FL-The locally based multifamily and single-family developer had $13.7 million in second quarter net income, up from $6.4 million in the 2003 quarter. Revenue rose 113% to $143.9 million in this year's second quarter.