Original Southeast commercial real estate news & events for Atlanta, Carolinas, Memphis, Miami, Nashville, Orlando and Washington D.C. metro area; plus expert insights, commentary and analysis into secondary and tertiary regional and local markets.
Located at 1901 South Ocean Blvd., the project will be located on the land currently occupied by the Wright by the Sea Hotel. The hotel will be demolished at the end of April and construction will begin on Ocean Delray immediately thereafter.
Completed in 2017, The Henry at Fritz Farm features a mix of one-bedroom, two-bedroom, and three-bedroom flats with modern design elements including open-concept floor plans, nine-foot ceilings, plank flooring, oversized patios or balconies and oversized windows.
The firm's plans for the property at 1221 Broadway include an office tower that would feature anywhere from 350,000 square feet to 500,000 square feet of office space.
The portfolio, which also contains a Northern Virginia sub-portfolio, is the largest multifamily transaction in Philadelphia to date, according to Morgan Properties.
An entity of BRT Apartments in which the firm has a 65% interest, has purchased the 312-unit Vive at Kellswater community for $48.1 million, including $33.4 million of mortgage debt assumed in connection with the acquisition.
The deal increases Blue Magma's Atlanta area portfolio to 3,000 value-add units purchased by the firm in less than four years at a cost in excess of $133 million.
The ownership of the storied building and brokerage firm JLL have announced the City Council has approved the redesign of its grown-floor space, which is part of the building's overall repositioning.