BOCA RATON, FL-The long-awaited $303-million sale of 76 commercial properties has closed between Koger Equity and an affiliate of Apollo Real Estate Investment Fund. The properties consist of 75 office buildings and one retail center.
MIRAMAR, FL-Minto Villaggio is building a 292-unit rental apartment complex in the Country Lakes West development. A $22.3-million loan, or $76,370 per unit, has been structured to finance the project.
FORT MYERS, FL-Agri-Insurance Co. Ltd is paying $237,500 per acre to buy back 40 acres adjacent to 1,200 acres that it recently sold for about $12,000 per acre near Southwest Florida International Airport, Florida Gulf Coast University and a future mall.
MIAMI-The $12 million development is being built by Tennessee-based Kendall Resort Hotel Ltd. on 21.9 acres owned by Sundale Ltd. The number of rooms weren't disclosed.
BOCA RATON, FL-The Cornerstone Group plans to put 246 rental units and 15,000 sf of retail space on this 12-acre site in Lauderdale Lakes, which it has purchased from New York-based Urban America for $158,333 per acre or $3.64 per sf.
MIAMI-The Miami-Dade County commission has submitted tentative plans for commercial development on a portion of the former Homestead Air Force Base--and the plans don't include a commercial airport.
JENSEN BEACH, FL-If a state court's order stands, builders say it could be used as a tool by environmental activists and other anti-growth foes, much like the issues of endangered species and wetlands.
FORT MYERS, FL-Fort Lauderdale, FL-based Storage King LLC paid locally based Michigan Homes Inc. $23.40 per sf for the 78,000-sf former furniture structure at 2235 Colonial Blvd.
JENSEN BEACH, FL-Thomas Thomson, chairman, Thomson Corp., is appealing the ruling to the Florida Supreme Court. His investment of $3.3 million and the construction of 14 additional buildings are at stake in a smoking controversy that will affect the entire multifamily development industry in the state, lawyers following the case tell GlobeSt.com.
