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<\/p>\nA financial services firm struck a sizable deal to open its first Miami office.<\/p>\n
<\/p>\n
\n Omni Offices at 1501 Biscayne Blvd.\n <\/p>\n
Skyline\u00a0Financial signed a 26K SF lease at 1501 Biscayne Blvd., formerly known as the Omni Offices, according to Colliers.<\/p>\n
Colliers\u2019 Kevin Gonzalez and Ana Paula represented the landlord, Resorts World Omni LLC. Cervera Real Estate\u2019s Nickel Goeseke represented the tenant,\u00a0which connects those in debt with payoff solutions. It doesn’t list a current office on its website.<\/p>\n
The 435K SF\u00a01501 Biscayne building is\u00a0part of the 1.5M SF mixed-use Omni Center, which also has 300K SF of retail and a 527-key Hilton hotel owned by a subsidiary of Malaysian gaming giant Genting Group.<\/p>\n
This is among other new-to-market tenants at the property, like Toronto-based trade school Skilled Trades College,\u00a0which plans to\u00a0occupy 30K SF<\/a>.<\/p>\n FINANCING<\/p>\n Rilea Group landed a $150M construction financing package from Nuveen Green Capital and Abanca USA for\u00a0a planned 300-unit multifamily building, Mohawk at Wynwood, according to a release.<\/p>\n Nuveen Green Capital, an affiliate of Nuveen, provided a $124.5M commercial property assessed clean energy loan, which provides building owners and developers with alternative funding for energy-efficiency and renewable energy-related new construction. Abanca provided the remaining $25M.<\/p>\n The project is set to rise along Northwest 29th Street, with completion expected in 2028. Residences will range between studios and one-to-three-bedroom units as well as first-floor condos with private backyards and 30K SF of retail.<\/p>\n Financing was arranged by Javier Herrera of Franklin Street.<\/p>\n ***<\/p>\n Property Markets Group landed a $115M construction loan from GoldenTree Asset Management for the Sage Intracoastal Residences Fort Lauderdale condo building, according to a release.<\/p>\n The financing will fund the construction of the 28-story, 44-unit condo tower with plans for two-to-four-bedroom units that will start at 2,770 SF. There will only be two units per floor. The 19K SF of amenities include a spa, a pool, a bar and lounge with a water view, and an indoor golf simulator.<\/p>\n Sage Intracoastal Residences,\u00a0set to rise at 900 Intracoastal Drive, is replacing a 16-unit co-op building built in 1957, which PMG demolished after\u00a0purchasing it\u00a0in 2024<\/a>\u00a0for nearly $20M.<\/p>\n PMG broke ground on the residences in November\u00a0and expects to complete the project by next year.<\/p>\n \n Courtesy of Gencom\n <\/p>\n \n The Ritz-Carlton hotel at 3300 SW 27th Ave.\n <\/p>\n SALES<\/p>\n Gencom reacquired a majority stake in The Ritz-Carlton Coconut Grove, according to a release.<\/p>\n The hospitality investment firm led the original acquisition of the asset in 2011 but sold its stake in 2017 to Hersha Hospitality. Now, after\u00a0taking on an undisclosed amount from Banco Inbursa to finance the acquisition, Gencom\u00a0is the sole owner.<\/p>\n The property at 3300 SW 27th Ave. is a 21-story hotel that opened in 2002 and underwent a renovation in 2018, updating the property’s hotel rooms, lobby, pool and restaurants.\u00a0<\/p>\n This is the second time Gencom has bought its majority stake in a Ritz-Carlton hotel back. In 2024, the company paid $400M to buy back its two-thirds interest<\/a> in the 291-key Ritz-Carlton Key Biscayne it sold in 2015.<\/p>\n ***<\/p>\n An entity tracing to Morgan Stanley sold a three-building distribution warehouse in Pompano Beach to CenterPoint Properties for $124M, according to property records provided by Vizzda.<\/p>\n The multitenant distribution center, dubbed Bridge Point Powerline Road, was built in 2019. Located at 1971 to 1991 N. Powerline Road, the three buildings total 467K SF.<\/p>\n The sale is a significant jump in value, almost doubling since\u00a0the Wall Street bank paid\u00a0$69M for the property in 2019.<\/p>\n ***<\/p>\n Brightline sold\u00a0a Fort Lauderdale parking garage connected to one of its stations for $17M amid efforts to raise $100M in debt for operations, the South Florida Business Journal reported<\/a>.<\/p>\n FTL Garage LLC, an affiliate of Brightline, sold the garage to Reve Ventures LLC, the SFBJ reported.\u00a0The sale\u00a0price\u00a0is less than\u00a0the\u00a0$21M the company paid<\/a>\u00a0for it in 2023.<\/p>\n The seven-story garage at 300 NW Second St. was\u00a0marketed<\/a>\u00a0by JLL for $20M, with plans to lease it back for 25 years.<\/p>\n Despite a roughly 20% ridership increase between October 2024 and 2025, the Fortress Investment Group-owned Brightline lost nearly $550M in 2024,\u00a0The Real Deal reported<\/a>.<\/p>\n S&P Global Ratings lowered its ratings on Brightline Trains Florida LLC\u2019s $2.2B debt from BB- to CCC. It also downgraded the rating on the company\u2019s parent company, Brightline East, which has $1.1B of notes, to CCC from CCC+, according to the S&P website<\/a>.<\/p>\n S&P said there is an increased probability that Brightline will default on its loans by early 2027.<\/p>\n ***<\/p>\n Dallas-based Stonelake Capital Partners purchased a 142K SF warehouse from window and door manufacturer Jeld-Wen for $38M, according to property records provided by Vizzda.<\/p>\n The building was built in 1998 at 12421 NW 39th St. in Coral Springs. The sale comes after the North Carolina-based company announced it was cutting 850 North American jobs, the South Florida Business Journal reported<\/a>.<\/p>\n The company plans to lease the space back, the SFBJ reported.<\/p>\n ***<\/p>\n The city of West Palm Beach gained full ownership over an\u00a0office and retail building for $25.5M, according to property records provided by Vizzda.<\/p>\n<\/p>\n