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Turnberry scores $249M loan for expansion of Turnberry Isle in Aventura

Turnberry Isle Resort Inset: Jackie Soffer and Jeffrey Soffer Turnberry Associates just closed on a $248.9 million loan for an expansion of its Turnberry Isle Miami in Aventura, property records show. Bank of China provided the financing for the 398-room… Continue Reading →

National Cheat Sheet: Investors ditch hedge funds for real estate, Quicken Loans slapped with $11M fine … & more

Clockwise from top left: Miami Beach, Compass founder and CEO Robert Reffkin, Venice Beach, Quicken Loans building. Investors are putting their money in real estate over hedge funds From TRD New York: Wealthy investors currently have about 33 percent of… Continue Reading →

Ocean Land scores $17M loan for AquaBlu in Fort Lauderdale

AquBlu renderings Inset: Jean Francois Roy and Dennis Eisinger Ocean Land Investments, led by Jean Francois Roy and Dennis Eisinger, just scored $17 million in financing for its AquBlu boutique condo project in Fort Lauderdale, property records show. North Miami Beach-based… Continue Reading →

Related, Rockpoint pay off $160M construction loan for Brickell Heights

Brickell Heights and Jorge Perez The Related Group and Rockpoint Group satisfied their $160 million construction loan for Brickell Heights, property records show. Related broke ground on the two-tower, 690-unit condo development in late 2014, secured its $160.5 million mortgage… Continue Reading →

Chicken Kitchen founder takes out $10M loan for North Bay Road manse

5004 North Bay Road Inset: Christian de Berdouare and Jennifer Valoppi Chicken Kitchen founder Christian de Berdouare and his wife, former TV journalist Jennifer Valoppi, just took out a $10 million mortgage on their luxury spec home on Miami Beach’s… Continue Reading →

Luxury homebuyers eye bank-owned homes

Villa Katerina Bank-owned homes have become increasingly attractive to wealthy buyers. The rewards can be high, but so are the risks. Declining inventory of these real estate owned properties across the country in tight luxury markets makes them more appealing,… Continue Reading →

Trader Joe’s-anchored project in Miami Beach breaks ground with $35M loan

Rendering of 17 West Miami’s second Trader Joe’s is one step closer to becoming a reality. Construction is officially underway at West 17, a mixed-use building at 1698 Alton Road and 1681-1683 West Avenue, according to a notice of commencement filed on Tuesday…. Continue Reading →

Don Peebles sees great opportunities for Miami, but traffic and zoning issues must be resolved

(Credit: Photo by Joe Raedle/Getty Images) Miami is a “city of the future” that needs to challenge “cities of the day” like New York and Boston to reach a new level, said developer Don Peebles, founder, chairman and CEO of… Continue Reading →

Saber Real Estate Advisors nabs $22M construction loan for South Beach retail project

A rendering of 1824 Alton Road courtesy of Kobi Karp New York and Aventura-based Saber Real Estate Advisors bagged a $22.25 million construction loan for a new South Beach retail development. Property records show FirstBank Puerto Rico provided the financing… Continue Reading →

Mortgage fraudsters plead guilty to $10M scheme in South Florida

Exterior of 45 Hendricks Isle in Fort Lauderdale Two mortgage fraudsters pleaded guilty to their involvement in a $10 million scheme using luxury South Florida condos. Michelle Cabrera of Miami Lakes and Pedro Melian of Hialeah each pleaded guilty last week… Continue Reading →

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