Miami Beach, FL Real Estate

Developer spends millions on acquisitions while its Wilton Manors property rots, racks up violations

Wilton Manors – Stellar Communities prides itself on creating elegant and luxurious properties. But one of its undeveloped properties is anything but. Since the Center for Spiritual Living congregation moved out of its former home at 1550 NE 26 Street in 2016 and Stellar bought the property, the former church has deteriorated and become a shelter for homeless individuals.
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Miami Herald

What are the 10 most expensive houses sold in Miami-Dade last week?

A home in Miami Shores that sold for $25 million tops the list of the most expensive real estate sales in Miami-Dade in the past week. In total, 190 real estate sales were registered in the area during the last week, with an average price of $855,607. The average price per square foot was $435.

Music exec Steve Stoute the buyer behind $28M Miami Beach deal: sources

Record industry executive Steve Stoute is the buyer of a waterfront Miami Beach estate that sold in September for $28.1 million, The Real Deal has learned. Stoute is the buyer behind the trust that purchased the 10,459-square-foot mansion at 6385 Pine Tree Drive Circle more than a month ago, according to sources. The founder and CEO of UnitedMasters, a music distribution company, and Translation, a marketing and advertising firm, Stoute relocated from New York with his wife, Lauren, records show.

CanAm Capital Provides $30 Million in Private Equity for FIU Housing Development

CanAm Capital Partners, the private equity affiliate of CanAm Enterprises, has provided $30 million in private equity capital for the construction of a 293-unit, 1,086-bed Class A student housing property adjacent to the main campus of Florida International University in the Miami metro area. The Capital is provided to an...

Seagis Property Group buys warehouse near Miami Gardens for $8M

In a continuation of its South Florida industrial real estate shopping spree, Seagis Property Group scooped up a former manufacturing facility near Miami Gardens for $8 million. Seagis bought the 60,577-square-foot warehouse at 255 Northeast 181st Street from an affiliate of Intima, a wholesaler of bedding, according to broker Jonathan...

ISG World obtains investment from DaGrosa Capital

Miami-based real estate brokerage ISG World has obtained an investment from DaGrosa Capital Partners. The Miami-based firm didn’t disclose how much it invested in ISG World, but it said the deal was with ISG World co-founder and CEO Craig Studnicky. The company, which specializes in new and preconstruction condo sales, has sold more than $12 billion in real estate in 150 projects since it was founded in 1992.

PE firms LarrainVial, DaGrosa Capital invest in Miami real estate companies

Two financial firms acquired stakes in South Florida real estate companies as the region continues to attract significant investment. LarrainVial, a Chilean-based financial services firm, purchased a 33 percent stake in Black Salmon and TSG, a Coral Gables-based commercial real estate investment firm and developer, respectively, both led by managing partners Camilo Lopez and Jorge Escobar. The deal marks the first U.S. expansion for LarrainVial, which oversees assets totaling more than $28 billion.

Rapper Post Malone’s Management Label Buys Wynwood Office Building

DWNTWN Realty Advisors Co-Founders and Managing Partners Tony Arellano and Devlin Marinoff completed another successful property sale in the city. The duo represented the seller of a Midtown Miami commercial building in a $5.55 million all-cash transaction that closed on Oct. 21. Arellano and Marinoff listed the 235 NE 29...