News

Codina Partners scored a $124 million refinancing for a pair of Downtown Doral apartment towers, using part of the capital to buy out Invesco’s stake in one of the buildings.  Coral Gables-based Codina landed the $124 million refinancing, which replaces an existing $92.8 million loan and increases it by $31.2 million, according to records. The This article originally appeared on The Real Deal. Click here to read the full story.

The Pérez family’s Related Group proposes a 398-unit Live Local Act project to take the place of the Claude Pepper age-restricted public housing building in Miami’s Health District.  Related Urban Development Group, Related’s affordable housing arm, wants to build a 14-story building with all units at below-market rate rents at 750 Northwest 18th Terrace in This article originally appeared on The Real Deal. Click here to read the full story.

Miami-Dade County’s condo sales and dollar volume rose in the third week of January. Brokers closed 106 condo sales totaling $95.3 million from Jan. 12 to Jan. 19. The previous week, brokers closed 93 condo sales totaling $61.9 million. Last week’s units sold for an average of $899,049, higher than the $665,359 average price from This article originally appeared on The Real Deal. Click here to read the full story.

Adam Neumann’s Flow won an El Portal development site with a $70.5 million offer that beat out Melo Group, The Real Deal has learned.  Miami-Dade Circuit Court Judge Thomas Rebull on Tuesday approved the sale of a 16-acre former trailer park at 8500 Biscayne Boulevard to an affiliate of Miami-based Flow. The expansive property landed This article originally appeared on The Real Deal. Click here to read the full story.

AEW Capital Management bought a 424-unit senior living rental complex in Wellington for $100.1 million, marking this year’s first major commercial real estate deal in South Florida.  The firm bought Wellington Bay at 2590 Wellington Bay Drive from Ares Management, according to records and real estate database Vizzda. The selling entity also ties to Tampa-based This article originally appeared on The Real Deal. Click here to read the full story.