Photo credit: Focus.
Focus, a seasoned real estate development and construction firm, and Group Fox, a family-owned property and asset management firm, both headquartered in Chicago, have received administrative site plan approval for their latest project, the 517-unit Brickell Starlite apartment tower. This milestone sets the stage for the development of a 39-story luxury high-rise in the heart of Miami’s Brickell neighborhood.
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Blackline team.
Blackline is a cutting-edge real estate sales platform designed to streamline new development sales through technology. Founded by industry veteran Tim Ng who has over 16 years of experience, the platform has already facilitated the sale of 80,000 units in Canada and is now expanding into Miami. Blackline offers tools like interactive floorplans, inventory management, and custom reporting, helping developers and sales teams work more efficiently and make data-driven decisions.
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Aztec Group, a prominent real estate investment and merchant banking firm serving Florida for four decades, has announced its successful arrangement of $55.6 million in bridge financing for Arcadia Gardens, located in Palm Beach Gardens, Florida.
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In a significant stride towards expanding quality residential options in Orlando, Royal Palm Companies led by Dan Kodsi and the Mattoni Group proudly announce the securing of an $86 million construction financing loan and the launch of Tuscany Village, a sprawling 420-unit multifamily complex set to enhance the Sanford area.
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Terra and New Valley, the development partners behind Natura Gardens, a new multifamily community in Northwest Miami-Dade County, have secured $127 million in permanent financing for the development. The loan, issued by an affiliate of MF1 Capital, will be used to pay off and refinance an existing $65 million construction loan, which was provided in 2021 by Bank OZK. Completed in Summer 2023, Natura Gardens includes 460 garden-style rental apartments across 23-acres in Miami’s West Hialeah neighborhood.
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(L-R) Demetri Demascus, Co-Founder PROFILEmiami; Raul Llanes, City National Bank; Michael May, Silverstein Capital; Dan Kodsi, Royal Palm Companies; Katya Demina, Co-Founder PROFILEmiami; Matthew Einheber, Title EQ; Justin Oates, Cain International; Juan Pedro San Martin, Merrimac Ventures
On Wednesday February 7, 2024 PROFILEmiami hosted its inaugural, sold-out South Florida Capital Markets Summit at the E11EVEN Residences Beyond sales gallery in Downtown Miami’s fast growing District 11 and Miami Worldcenter. The exclusive panel featured industry leading developers Dan Kodsi of Royal Palm Companies, Juan Pedro San Martin of Merrimac Ventures and financiers Raul Llanes of City National Bank, Michael May of Silverstein Capital and Justin Oates of Cain International; moderated by Matt Einheber of TitleEQ.
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Participant Capital CEO/ Managing Principal Dan Kodsi
Participant Capital Advisors, a real estate investment firm that manages private equity real estate vehicles, announced the launch of its latest fund: the Participant Capital Sun Belt Multifamily Development Fund 1 (the "Fund"). The Fund has a fundraising target of $250 million in commitments to allocate to multifamily development projects in the booming Sun Belt region. The Fund is a closed-end private equity real estate vehicle with an 8-year projected term.
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Berkadia has arranged a $113 million loan to refinance Gateway at Wynwood, a 220,000-square-foot, Class A office and retail project designed by Kobi Karp in Miami’s Wynwood District. Senior Managing Director Charles Foschini, Managing Director Christopher Apone and Associate Director Robert Iudice of Berkadia South Florida arranged the loan on behalf of New York-based R&B Realty, a family-owned real estate management, leasing and construction company.
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Rilea Group has closed on an expansion of its assemblage for its rental project Mohawk at Wynwood for $5.7 million, represented by Alfredo Riascos of Gridline Properties. The seller was represented by Alfonso Jaramillo of Fortune. The purchase brings Mohawk’s site to 78K square feet, which sits adjacent to its short-term luxury rental property, The Rider Wynwood.
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Miami-based Limestone Asset Management, via a joint venture with Orion Real Estate Group, has acquired Colonial Palms Plaza, a retail center located in the Pinecrest area at 13601–13621 S Dixie Highway, Miami, FL, 33176, for $70.5 million on Dec. 23, 2022. Eric Williams of JLL represented the seller, MetLife Investment Management. Goldman Sachs is providing financing for the purchase.
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