Miami

The groundbreaking ceremony followed last month's announcement that National Realty Investment Advisors and U.S. Construction closed on a $73-million loan from CIM to begin construction on their Ocean Delray development.

With the sale-leaseback agreement, Transformco, the parent company of Kmart and Sears, continues to occupy the property to operate its main distribution center for the entire Southeast US that support Sears, Kmart, and Hometown stores.

Under the Miami 21 zoning code, development may occur without meaningful public participation because as a form-based code, development is now allowed "by right."

The River Parc Master Plan (Senior Campus Redevelopment) consists of three public housing developments—Robert King High, Haley Sofge and Martin Fine Villas, that feature a total of 800 units.

Halstatt Real Estate Partners of Naples, FL is working with Development Ventures Group and InTown Group to build the 23-story tower, which will include 188-units for a total of 537 beds.

Arch REHC's focus is to channel private investment capital into multiple Puerto Rican opportunity zones with a "consistent theme of affordable housing, sustainable and reliable residential energy, and reduced occupancy costs.

The team, led by David Beshears, brings a 25-year track record and will focus on a wide variety of property types, primarily in Florida and the Southeast.

The property at 8595 Beach Blvd. is anchored by Rowe's IGA Supermarket, Planet Fitness and the Armed Forces Career Center. Built in 1991, the property is 94% occupied and will be rebranded by the new ownership as Gates of The Promenade Shopping Center.