{"id":13307,"date":"2025-10-21T02:12:14","date_gmt":"2025-10-21T02:12:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/13307\/"},"modified":"2025-10-21T02:12:14","modified_gmt":"2025-10-21T02:12:14","slug":"the-south-florida-deal-sheet-october-20-2025","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/13307\/","title":{"rendered":"The South Florida Deal Sheet (October 20, 2025)"},"content":{"rendered":"<p>A handful of South Florida developers paid $68M for\u00a0170 acres where they plan to build a $1B mixed-use development spanning 12 blocks in Broward County.<\/p>\n<p>                        <img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2025\/10\/placeholder.png\" loading=\"lazy\" alt=\"Placeholder\"\/><\/p>\n<p>\n      Courtesy of Rosemurgy Properties, 13th Floor Homes, Schmier Property Group and Giles Capital Group\n    <\/p>\n<p>\n      Mainstreet at Coconut Grove is set to rise on 170 acres in Coconut Creek.\n    <\/p>\n<p dir=\"ltr\">A partnership of 13th Floor Homes, Rosemurgy Properties, Schmier Property Group and Giles Capital Group\u00a0plans to break ground on Mainstreet at Coconut Creek\u00a0by the end of the year, it announced Monday.<\/p>\n<p dir=\"ltr\">Lennar Corp. purchased a piece of the development for $40.4M through a land bank\u00a0company and intends to develop\u00a0townhouses, condos and villas\u00a0on its property, which is west of Lyons Road and between Wiles and West Sample roads, the\u00a0<a href=\"https:\/\/www.bizjournals.com\/southflorida\/news\/2025\/10\/20\/lennar-mainstreet-coconut-creek-homes-real-estate.html\" target=\"_blank\" rel=\"nofollow noopener\">South Florida Business Journal reported<\/a>.<\/p>\n<p dir=\"ltr\">The seller was Johns Family Partners LLP, a\u00a0spokesperson for the buyers\u00a0confirmed to\u00a0Bisnow. The Johns family operated a\u00a0farm on the land for\u00a0more than a century.<\/p>\n<p dir=\"ltr\">The project\u00a0is expected to be built in\u00a0multiple phases but eventually bring 80K SF of grocery-anchored retail, 792 apartments, 414 townhomes, 148 villas and 296 condos.<\/p>\n<p dir=\"ltr\">The developers plan to build\u00a0four blocks of green space that will include children&#8217;s play areas, a splash pad, a dog park, a performance space, public art and a parking garage. They are also reserving space for civic use, with potential for it to be a new fire station.<\/p>\n<p dir=\"ltr\">Miskel Backman LLP oversaw the project&#8217;s entitlement and approval process. <a class=\"tag tag-48268\" href=\"https:\/\/www.bisnow.com\/tags\/nelson-mullins\" target=\"_blank\" data-tag-id=\"48268\" rel=\"nofollow noopener\">Nelson Mullins<\/a> represented the developers in the closing transaction and the buyer&#8217;s $18.85M financing was provided by <a class=\"tag tag-31478\" href=\"https:\/\/www.bisnow.com\/tags\/cibc\" target=\"_blank\" data-tag-id=\"31478\" rel=\"nofollow noopener\">CIBC<\/a> Bank USA.<\/p>\n<p dir=\"ltr\">SALES<\/p>\n<p dir=\"ltr\">A Delaware bankruptcy judge approved the $22.5M sale of the Miami Seaquarium lease from\u00a0The Dolphin Co., also known as Leisure Investments Holdings LLC,\u00a0to\u00a0Terra Group, led by\u00a0David Martin,\u00a0<a href=\"https:\/\/www.nbcmiami.com\/news\/local\/bankruptcy-judge-approves-22-5m-sale-of-miami-seaquarium-property-lease\/3707973\/\" target=\"_blank\" rel=\"nofollow noopener\">NBC Miami reported<\/a>.<\/p>\n<p dir=\"ltr\">Terra\u00a0<a href=\"https:\/\/www.bisnow.com\/south-florida\/news\/commercial-real-estate\/terra-group-to-take-over-miami-seaquarium-in-key-biscayne-131174\" target=\"_blank\" rel=\"nofollow noopener\">agreed to take over the lease<\/a>\u00a0in September and released plans that include a conservation and research center, a wet slip marina and a dry dock facility. The vision also features a waterfront wellness venue, marine-themed retail, food and beverage concepts and a public baywalk.<\/p>\n<p dir=\"ltr\">The 32-acre park at 4400 Rickenbacker Causeway has been a Miami staple since 1955. The temporary closure will eliminate more than 120 jobs,\u00a0<a href=\"https:\/\/www.bizjournals.com\/southflorida\/news\/2025\/09\/29\/miami-seaquarium-layoffs-closing-jobs.html\" target=\"_blank\" rel=\"nofollow noopener\">the South Florida Business Journal reported<\/a>.<\/p>\n<p dir=\"ltr\">The Dolphin Co.,\u00a0which operates 30 other parks worldwide,\u00a0is working with an animal transfer consultant to transport the mammals to new homes over the coming months,\u00a0<a href=\"https:\/\/www.axios.com\/local\/miami\/2025\/10\/16\/miami-seaquarium-animals-relocate-closure\" target=\"_blank\" rel=\"nofollow noopener\">Axios reported<\/a>.<\/p>\n<p dir=\"ltr\">CONSTRUCTION AND DEVELOPMENT<\/p>\n<p dir=\"ltr\">Developer The Integral Group and contractor ANF Group delivered\u00a0the 99-unit affordable senior housing Wellspring Apartments in Opa-locka, according to a release.<\/p>\n<p dir=\"ltr\">The 81K SF development at 14803 NW 27th Ave.\u00a0has 67 units for residents earning 50% of the area median income and 32 units for residents earning 60% of AMI. Amenities include a computer and library room, a gym, a terrace and a community center with a kitchen.<\/p>\n<p dir=\"ltr\" style=\"text-align: center;\">***<\/p>\n<p dir=\"ltr\">The world\u2019s first pickleball stadium, The Fort Pickleball Complex, has completed construction in Fort Lauderdale, according to a release.<\/p>\n<p dir=\"ltr\">The 10-acre site has 43 courts within the 93-acre Snyder Park at\u00a0891 SW 34th St.<\/p>\n<p dir=\"ltr\">The collaboration between the city of Fort Lauderdale and My Park Initiatives features 14 weatherproof courts, a pro shop with an outdoor bar, locker rooms, 4K SF of event space and a recreational beach area.<\/p>\n<p dir=\"ltr\">Miller Construction Co.\u00a0completed the construction of the complex alongside a team of Architectural Alliance, Architectural Alliance Landscape, KAMM Consulting, ACcord Engineering, WGI and Brizaga.<\/p>\n<p dir=\"ltr\" style=\"text-align: center;\">***<\/p>\n<p dir=\"ltr\">Witkoff Group and PPG Development began vertical construction on The Residences at Shell Bay, according to a release.<\/p>\n<p dir=\"ltr\">The Auberge-branded condo building is set to rise 20 stories with 108 units starting at $2M. The Kobi Karp-designed development is integrated into Shell Bay Club, a private members club with an 18-hole golf course and a 48-slip marina.<\/p>\n<p dir=\"ltr\">FINANCING<\/p>\n<p dir=\"ltr\">Crescent Heights landed a $238M Freddie Mac loan to refinance the Forma Miami multifamily development in Edgewater, according to a release.<\/p>\n<p dir=\"ltr\">The 588-unit project features studios, one-, two- and three-bedroom residences ranging between 485 SF and 1,980 SF and more than 85K SF of amenities. Edgewater\u2019s first Whole Foods Market also occupies 50K SF of the project, which was delivered in 2024 at 2900 Biscayne Blvd.<\/p>\n<p dir=\"ltr\">A Walker &amp; Dunlop team of Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Dustin Stolly, Sean Reimer, Michael Stepniewski and Michael Ianno arranged the loan, which was provided through Freddie Mac\u2019s lease-up program.<\/p>\n<p>                        <img decoding=\"async\" src=\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2025\/10\/placeholder.png\" loading=\"lazy\" alt=\"Placeholder\"\/><\/p>\n<p>\n      Courtesy of Savills\n    <\/p>\n<p>\n      Seacoast Banking Centre at 3001 PGA Blvd.\n    <\/p>\n<p dir=\"ltr\">LEASES<\/p>\n<p>Nason Yeager Gerson Harris &amp; Fumero renewed and expanded its lease at the Seacoast Banking Center at 3001 PGA Blvd. in Palm Beach Gardens, according to a release.<\/p>\n<p dir=\"ltr\">The law firm expanded its 18K SF lease to nearly 24K SF at the three-story building. Built in 2006, the property\u00a0sold for $30M in January to an entity tracing to Andiamo Capital Corp., according to property records provided by Vizzda.<\/p>\n<p dir=\"ltr\">CBRE\u2019s Chris Smith represented the landlord. A Savills team of Lawrence Epstein and Michael Wenick represented the tenant.<\/p>\n<p dir=\"ltr\" style=\"text-align: center;\">***<\/p>\n<p dir=\"ltr\">CP Group and DRA Advisors completed more than 266K SF of new leases and renewals at the Boca Raton Innovation Campus, the landlords announced.<\/p>\n<p dir=\"ltr\">Allstar Recruiting Locums LLC, a healthcare staffing firm, signed a 42K SF lease, doubling its footprint in a relocation from Deerfield Beach. A Cushman &amp; Wakefield team of Ryan Nunes and Alan Kleber represented Allstar.<\/p>\n<p>EchoTwin AI also agreed to move to 2K SF at BRIC for its first office outside of San Francisco.<\/p>\n<p>Home warranty provider Clinch Home Services also inked a 32K SF\u00a0lease for the campus and was represented by Ryan Nunes and Alan Kleber of Cushman &amp; Wakefield.<\/p>\n<p>Modernizing Medicine\u00a0renewed a\u00a0127K SF lease, represented by a Cushman &amp; Wakefield team of Ryan Nunes and Alan Kleber. Everglades University renewed\u00a0for 52K SF, represented by JLL\u2019s Zach Wendelin and Adam Bernstein, and\u00a0financial services company Newtek renewed its nearly 8K SF lease.<\/p>\n<p dir=\"ltr\">PEOPLE<\/p>\n<p dir=\"ltr\">New York-based Adirondack Capital Partners\u00a0is opening a Miami office and named\u00a0Brittany Feinberg as partner to lead it.<\/p>\n<p dir=\"ltr\">Feinberg, who formerly worked at investment sales firm Eastdil Secured, will be responsible for serving investors, family offices and developers in retail, multifamily and mixed-use transactions across Florida \u2014 the first being the sale of a $30M, 16-acre waterfront development site in Sarasota.<\/p>\n<p dir=\"ltr\">She is bringing nearly\u00a010 years of capital markets experience and more than $10B in debt and equity transactions under her belt in retail, office, hotel, industrial and multifamily into ACP&#8217;s new office at 927 Lincoln Road in Miami Beach.<\/p>\n<p dir=\"ltr\" style=\"text-align: center;\">***<\/p>\n<p dir=\"ltr\">Momentous Sports, a sports and real estate investment platform <a href=\"https:\/\/www.bisnow.com\/national\/news\/commercial-real-estate\/momentum-sports-mixed-use-stadium-tim-tebow-john-elway-130958\" target=\"_blank\" rel=\"nofollow noopener\">backed by former NFL quarterbacks Tim Tebow, John Elway and Blake Bortles<\/a>,\u00a0named Samir Yajnik as\u00a0managing director of investments, according to a release.<\/p>\n<p dir=\"ltr\">Yajnik will lead fund strategy, investment allocation and governance while overseeing the diligence team and partnering with portfolio companies and real estate projects to boost value creation for the Fort Lauderdale-based firm.<\/p>\n<p dir=\"ltr\">He started his career at Swerdlow Group and later worked at NewStar Financial, GE Capital, Satori Collective and Encore Capital Management.<\/p>\n<p dir=\"ltr\">Yajnik has more than 20 years of real estate, private equity and capital markets experience and more than $2B in acquisition transactions in hospitality, multifamily, retail and mixed-use properties.<\/p>\n","protected":false},"excerpt":{"rendered":"A handful of South Florida developers paid $68M for\u00a0170 acres where they plan to build a $1B mixed-use&hellip;\n","protected":false},"author":2,"featured_media":13308,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[11865,11864,28,30,29,11866,11867],"class_list":["post-13307","post","type-post","status-publish","format-standard","has-post-thumbnail","category-florida","tag-13th-floor","tag-coconut-creek","tag-florida","tag-florida-headlines","tag-florida-news","tag-lennar-corp","tag-mainstreet-at-coconut-creek"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/13307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=13307"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/13307\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/13308"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=13307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=13307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=13307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}