PALM BEACH, FL-The publicly traded hotel REIT, based here, declared a 3-cent per share regular common share dividend for the fourth quarter. The company declared a regular dividend of 53.9 cents per Series A cumulative convertible preferred share.
WEST PALM BEACH, FL-Alliance Holdings LLC paid the Rreef Funds $73,101 per unit for the 316-unit luxury apartment community here. The apartments are centered around a Jack Nicklaus-designed golf course.
PALM BEACH GARDENS, FL-Seavest Inc. and Enterprise Asset Management Inc. bought the 189,000-sf property at 3801 PGA Blvd. from a limited partnership, of which real estate developer Bruce Rendina is the general partner. The building, with many financial tenants, is being renamed the Financial Center at the Gardens.
DELRAY BEACH, FL-The permanent mortgage financing, arranged by Dockerty Romer & Co., was from Bear, Stearns & Co. for two retail properties totaling about 101,500 sf--the 68,000-sf Delray Commons and the 33,500-sf Pine Island Plaza.
MIAMI-In a large deal for the area, Principal Real Estate Investors bought the building, which was leased entirely to one tenant in September, from Lincoln PO Miami LP, which paid $11.9 million for the building about a year ago.
SUNNY ISLES BEACH, FL-Wavestone Properties of New Jersey is developing Sole on the Ocean, with 147 resort-residences and a $72-million sellout value. Prodigy International Development Sales, a new company, is beginning to sell the project.
DEERFIELD BEACH, FL-The $1-million renovation was a condition of the mall's $42.6-million sale to a partnership of Ross Matz Investments Inc. early this year. Improvements included painting, a new facade and awnings, landscaping and sidewalk pressure cleaning.
MIAMI-The $75-million mixed-use tower Ten Museum Park will include 200 luxury condominiums, priced from about $200,000 to $750,000, along with live/work office condos, restaurant space and parking.
LAKE PARK, FL-Private individuals and affiliates of Florida Executive Realty Management Corp. of West Palm Beach borrowed the permanent mortgage financing from Key Real Estate Capital Inc. for Cardello's Plaza, a 45,500-sf unanchored shopping center.
BOCA RATON, FL-Completion of the 83,000-sf, class A 595 Financial Center here is the second part of the company's creation of a class A financial center, which also included significant renovations to an adjacent building and a parking garage. The project cost was about $25 million.