Milan-born developer and CMC Group founder Ugo Colombo recently completed the installation of a multi-million art collection at his newly opened Brickell Flatiron tower in Miami’s Brickell neighborhood. The privately commissioned permanent collection features a series of exclusively produced large-scale paintings and sculptures.
Read MoreSwire Properties Sells Two Brickell City Centre Office Buildings For $163 Million Amid Pandemic
Swire Properties has sold Two Brickell City Centre and Three Brickell City Centre for a combined $163 million, $630 per square foot, amid the COVID-19 pandemic. Each Class A Office building is roughly 130,000 square feet with the pricing broken down by $80.3 million for Two Brickell City Centre and Three Brickell City Centre sold for $82.7 million.
Read MoreBrickell City Centre Announces New Retailers And Restaurants Opening In 2020 Despite COVID-19
Brickell City Centre (BCC), an open-air shopping, dining and entertainment destination developed by Swire Properties in Miami’s financial district, Brickell, has announced new retailers and first-of-its-kind restaurants which will be opening this summer (2020) despite the COVID-19 shutdown.
Read MoreCMC Group Closes On More Than $31 Million in Penthouse Sales In Last 90 Days At Brickell Flatiron
CMC Group’s newly completed Brickell Flatiron condominium in Downtown Miami’s Brickell Financial District has successfully closed on four upper penthouse residences totaling $31.6 million in finalized sales over the last 90 days.
Read MoreDemolition Clears The Way For OKO Group And Cain International's Una Residences To Break Ground
An 11-story former condo building at 175 SE 25th Road, which was built in 1971 ,has been demolished, clearing the way for the highly-anticipated condo tower Una Residences to break ground in the near future. Una Residences is being developed by OKO Group, led by Vladislav Doronin, and Cain International.
Read MoreResidents at Icon Brickell Host Parties As David Guetta Plays "United At Home" Set On Pool Deck Despite COVID-19 Social Gathering LIMits
In what was supposed to be an evening of fundraising and hope, a backlash has now swept through the Miami community. On April 18 David Guetta teamed up with the Miami Downtown Development Authority to host a 2 hour “United at Home” fundraising concert on the pool deck of Icon Brickell.
Read MoreBeaches in Miami-Dade County have been closed.
Tracking COVID-19 By The Numbers: Breaking News In South Florida
(Last Updated 6:14 AM 3/27/2020):
BREAKING:
City of Miami officials have announced a curfew for its residents that will begin Friday night. According to officials, all residents must be indoors from 10 p.m. until 5 a.m. (3/27/2020)
Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business 9 PM Thursday. (3/20/2020)
All U.S. Citizens traveling around the world should return home ASAP or be prepared to stay abroad for an indefinite period. (3/19/2020)
Continue to check back for updates to below as we continue to track COVID-19 across South Florida:
Stats:
Number of Cases in Florida: 830+ (3/23/2020)
Fatalities in Florida: 13+ (3/23/2020)
Number of Global Cases: 351,000+ (3/23/2020)
Global Fatalities: 15,321+ (3/23/2020)
Number of U.S. Cases: 35,075+ (3/23/2020)
Fatalities in the U.S.: 458+ (3/23/2020)
Miami-Dade County:
Miami-Dade County # Cases: 2900+ (3/27/2020)
BREAKING: Miami-Dade Mayor Issues Executive Order Closing All Non-Essential Business (3/20/2020)
CONFIRMED CASES IN BRISTOL TOWER BRICKELL & SOHO BEACH HOUSE (3/19/2020)
Officials have ordered the closure of all restaurants, bars, movie theaters, concert houses, auditoriums, playhouses, clubs, gyms, arcades, bowling alleys, etc. which will go into effect 11 PM Tuesday. All grocery stores, pharmacies, take-out and delivery services will remain open at this time (3/17/2020)
All bars and nightclubs will be closed for 30 days.
Restaurants will only be able to operate at half capacity.
Exceptions granted if they have a capacity of 10 people or less.
Mayor Carlos Jimenez signed the emergency order, but remains in self-quarantine after being exposed to a Brazilian government official who tested positive following a visit to South Florida.
Miami-Dade Public Schools are now closed through at least April 15. (3/19/2020)
Miami-Dade Public Schools have closed this week and next. (3/16/2020)
Key Biscayne and North Miami Beach have implemented curfew between 10 PM and 5 AM (3/19/2020)
Officials have closed the beach from 5th to 15th Street, including Lummus Park.
All city parking garages are closed to non-residents.
In addition, all non-essential retail stores will be required to close at 10 p.m. daily. (3/16/2020)
Businesses excluded from this directive include: Pharmacies, grocery stores, convenience stores, private offices, banks, hotels, hospitals, medical service providers, medical supply stores, hardware stores, gasoline service stations and automotive supply and repair centers.
An entertainment district curfew will go into effect at 11 p.m.
All restaurants are asked to keep occupancy at 50% or less, and have under 250 people in each establishment at any given time.
Ultra Music Festival has been cancelled.
Miami Music Week has been cancelled.
ArtScape Concert has been cancelled.
The Miami Open Tennis Tournament has been cancelled.
University of Miami & FIU have moved classes online until the end of the spring semester. (3/20/2020)
University of Miami Spring Commencement postponed until December. (3/20/2020)
The Hardrock Seminole Hotel & Casino has suspended entertainment operations.
Calle Ocho Festival has been cancelled.
Mayor Francis Suarez has confirmed that he has COVID-19.
Broward County:
Broward County # Cases: 180+ (3/23/2020)
Broward County Public Schools are now closed through at least April 15. (3/19/2020)
Officials have closed the beach from Harbor Beach to Oakland Park Boulevard.
Restaurants and bars must close by 10 p.m.
Restaurants and bars are asked to operate at 50% capacity and have no more than 250 people at any time.
The Tortuga Music Festival, which was set to run from April 17-19, has been postponed.
The Wharf Fort Lauderdale is closed until further notice.
The listed measures will remain in effect until April 12.
Palm Beach County:
Palm Beach County # Cases: 59+ (3/23/2020)
Town of Palm Beach implements curfew until further notice from 9 P.M. - 6 A.M. (3/18/2020)
Palm Beach County Public Schools are now closed through at least April 15. (3/19/2020)
Beaches will be closed on Tuesday 3/17/2020
Nursing Homes and Assisted Living Facilities are closed to visitors.
Drive-through testing underway at FoundCare (2330 S. Congress Ave, West Palm Beach - call 561-967-0365 to see if you qualify and for appointments)
National:
BREAKING: The Federal Government has passed a $2.2 trillion stimulus package.
United States of America # Cases: 35,075+ (3/23/2020)
United States of America Fatalities: 458+ (3/23/2020)
Income tax filing deadline moved to July 15 (3/20/2020)
Foreclosures and HUD evictions have been halted for 60 days.
CDC recommends ban on gatherings of 10+ people.
The Players Championship was cancelled & PGA Tour is suspended.
NBA, NHL, MLB and MLS have suspended their seasons.
All ski resorts have closed.
Miami-Dade Orders All Hotels And Short-Term Rentals To Shut Down Due To COVID-19
Miami-Dade County and the City of Miami Beach have ordered all hotels, motels and short-term rentals to begin immediately shutting down and vacate their guests, with full-closure by 11:59 PM on Monday, March 23. The announcement comes as Miami’s next step in curbing the spread of COVID-19 which has now surpassed 560 cases in Florida and over 123 in Miami-Dade.
Read MoreSteve Witkoff and Matthew Cherwin.
UNIVERSITY OF MIAMI HOSTS ITS NINTH ANNUAL REAL ESTATE IMPACT CONFERENCE
On Friday, February 28th, the University of Miami School of Architecture hosted its ninth annual Real Estate Impact Conference, which brought together board members, students, faculty, distinguished alumni and real estate professionals. The invitation-only conference was hosted at the Four Seasons Hotel in Brickell with support from presenting sponsors Douglas Elliman Real Estate, Kislak, and Witkoff.
More than 650 University of Miami students and alumni, including many South Florida commercial real estate and finance professionals, discussed both threats and opportunities in the market at the multidisciplinary conference.
“Bringing together faculty and students from our schools of architecture, business and law is an important step in tackling today’s complex problems,” said University of Miami President Julio Frenk. “This conference is an excellent example, because real estate is essential to Miami’s economy with an impact around the world.”
Anthony Graziano and President Julio Frenk.
In addition to panel discussions and networking sessions, there were several special programs available to MRED+U, MBA, MSF and Law School students throughout the day. One of the benefits of membership on the University of Miami Real Estate Advisory Boards, which consist of over 100 prominent real estate professionals, is personal contact with the best and brightest students. Advice With Impact was an intimate, morning networking session which was attended by students and sponsors such as IBERIABANK, Plaza Construction, CBRE and Whitman Family Development.
Katya Demina, Tom Murphy and Alana Fernandez.
University of Miami students were also invited to apply for the premier networking opportunity of the school year: the Swire Scholar Luncheon. Scholars received complimentary registration ($300 value) to attend the conference and participated in a private luncheon with advisory board members from the Architecture, Business and Law schools. David Martin, vice president of retail at Swire Properties, welcomed UM’s Swire Scholar students to the opening luncheon, where they had an opportunity to discuss their studies and career plans with UM’s Real Estate Advisory Board members.
For MBA student Jack Shelgren, the Swire Scholars luncheon provided valuable learning and networking opportunities. “As an intern, I did research and financial analysis, learning about multifamily, office and retail asset types,” he said. “Now, I’m an associate at Freeman Property Group, gaining an entrepreneurial perspective, while working on acquisitions for our clients.”
MRED+U students Nick Nicola and Tanya Rivera with Jackie Touzet.
In the afternoon, top executives from JP Morgan Chase, Ventas and Hines took the stage and provided valuable insight on today’s real estate market. They commented that hospitality services are playing an increasingly important role throughout the commercial real estate market, as employers seek to recruit and retain talented workers. Another emerging trend is the growing demand for medical office properties and senior housing driven by the aging of the U.S. population. Without question, the global spread of the novel coronavirus COVID-19 poses a threat to global real estate markets, according to Matthew Cherwin, treasurer and chief investment officer of JP Morgan Chase.
The school also highlighted its Research Initiative, which was introduced in 2018 by Dr. Charles Bohl, Director of the Master in Real Estate Development + Urbanism (MRED+U) Program. “Both the University of Miami and our Real Estate Advisory Boards have made Resiliency a top research priority of immense relevance to South Florida and coastal communities around the world. It is through joint research initiatives like this that our students, faculty and researchers can help us address the big, challenging issues of our day, including the adaptation and development of more resilient buildings, infrastructure and communities,” said Bohl. Professor Mark Troen and students from the MRED+U program presented this year’s findings on stage.
The 2020 Impact Conference Organizing Committee consists of Andrea Heuson, Charles Bohl, Manuel de Zarraga, Nitin Motwani, Alfonso Munk and Steve Witkoff. Nitin Motwani, Managing Principal of Miami Worldcenter and Chair of the MRED+U Advisory Board, closed the standing-room-only conference by reminding participants that, “The University of Miami Real Estate Impact Conference supports all real estate education at the University, which has become an interdisciplinary powerhouse that blends real estate programs in finance, development, and law with construction management, architecture and engineering.”
CMC Group Pays Off $236 Million In Construction Loans For The Recently Completed Brickell Flatiron
Unit closings are underway and residents are moving in at Downtown Miami’s newly-completed Brickell Flatiron tower, with 50% of the 64-story tower’s contracts successfully closed over the last 30 days. The news comes as developer CMC Group retires $236 million in construction loans for the project.
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