Dell Technologies founder buys Fort Myers rental complex

Monday Sep 18th, 2017


A family investment firm formed by Michael Dell, the founder of Dell Technologies, partnered with another firm to buy an apartment complex in Fort Myers for $66 million. In late August, the Dell family’s MSD Capital L.P. and Los Angeles-based TruAmerica Multifamily acquired the 640-unit apartment complex, called Sienna at Vista Lake, for $103,125 per unit. Matthew Ferrari, director of East Coast acquisitions for TruAmerica, told the Business Observer that the $66 million... [read more]

46-acre site in Southwest Ranches hits the market for $16M

Tuesday Aug 22nd, 2017


A 46-acre development site in Southwest Ranches just hit the market for $15.75 million. The plot of land, on the northwest corner of Sheridan Street and Flamingo Road, is asking for about $342,000 per acre. Records show the owner, Canyon Creek Estates LLC, is led by Ameristar Properties of South Florida, Ernest Caparelli, Shlomo Espstein and Joseph Caparelli. The LLC bought the property in 2004 for $8.9 million. The site is zoned for about 20 homes and estates of up to two acres, said... [read more]

Fort Pierce not giving up hotel plans for downtown

Monday Jul 31st, 2017


FORT PIERCE — City officials hope by October to select a developer to redevelop the former H.D King site in downtown into a hotel. The Fort Pierce Redevelopment Agency on Monday approved City Manager Nick Mimms' autumn timetable to solicit requests from developers to build a hotel. An informational meeting for prospective bidders is tentatively scheduled for Aug. 16 and all bids are due by Sept. 5, according to a draft copy of the request for proposals/qualifications. The... [read more]

DDR scores $18M loan for retail center in Palm Beach Gardens

Friday Jun 30th, 2017


An affiliate of the publicly traded real estate investment trust DDR Corp. just took out an $18.1 million mortgage on a Palm Beach Gardens shopping center called Northlake Commons. Property records show DDR’s DDRM Northlake Commons LLC closed on the financing from Morgan Stanley and Citigroup Global Markets Realty Corp. Tenants include Arby’s, Five Below, Home Depot, Jo-Ann Fabric and Craft Stores, Ross, Starbucks and Taco Bell. It has four spaces available that range from... [read more]

Miami home prices up 5.4 percent in April, year-over-year: S&P CoreLogic Case-Shiller

Wednesday Jun 28th, 2017


Miami home prices rose 5.4 percent in April, year-over-year, the 13th highest increase nationwide, according to the latest S&P CoreLogic Case-Shiller Index. The newly released report, which tracks 20 major metropolitan areas in the country, shows home prices in Miami increased by 0.6 percent from March to April. From February to March, Miami home prices increased by 0.3 percent. Miami ranked in March as the 11th highest increase among the top 20 cities. Nationwide, home prices... [read more]