South Florida - The Real Deal

“Biased and misleading”: Florida officials sued over property tax ballot language

Katherine Kallergis — Thu, 11 Jun 2026 23:00:00 +0000

A lawsuit challenging the proposed property tax exemption ballot language in Florida was filed against Florida Secretary of State Cord Byrd and Attorney General James Uthmeier. The complaint, filed by the nonprofit Save Our Voters from Misleading Ballot Language and former South Florida mayors Thomas F. Campenni (former mayor of Stuart) and Michael W. Davey (former Key Biscayne mayor), alleges that the current language, which Floridians will vote on in November, is “unconstitutionally biased, misleading and improper.” Earlier this month, the Florida Legislature voted to send the proposed constitutional amendment to voters. The amendment, called “Save Our Homes from Excessive […]

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Michael Stern’s JDS to bring on partner Jeff Soffer at Mercedes-Benz Miami project, working on $1B loan

Katherine Kallergis — Thu, 11 Jun 2026 22:30:00 +0000

Michael Stern’s JDS Development Group is nearing a deal to bring on Jeff Soffer’s Fontainebleau Development as a partner and secure an over $1 billion loan for the Mercedes-Benz Miami condo project, The Real Deal has learned. The deal, which has not yet closed, will replenish the project’s capital stack and would resolve litigation with the existing lender, allowing the nearly 800-unit branded condo project to resume. Byron Trott and Michael Dell’s firm, BD&T & MSD, is one of the lenders, according to sources. The $1.06 billion financing package includes a C-PACE (Commercial Property Assessed Clean Energy) component, which encourages […]

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RCI Marine, Suntex’s $80M marina redev plans head to Miami voters

Eman Elshahawy — Thu, 11 Jun 2026 21:30:00 +0000

The redevelopment fate of the marinas on Virginia Key will be in the hands of voters in November after a lively, more than 30-minute discussion among Miami commissioners over a referendum. Miami commissioners unanimously approved two measures tied to an $80 million proposal by Virginia Key LLC, a joint venture between Miami Beach-based RCI Marine Group and Dallas-based Suntex Marinas, to redevelop the Rickenbacker Marina and Marine Stadium Marina. The approvals follow a 2023 ruling by Miami-Dade Circuit Court Judge Alan Fine, who ordered the city to advance Virginia Key LLC’s proposal to a voter referendum after finding the city […]

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Rubell family sells another Allapattah property to Neology for $24M

TRD Staff — Thu, 11 Jun 2026 20:33:29 +0000

The Rubell real estate and art family sold another property in Allapattah to Neology Group in two deals totaling $24 million, the South Florida Business Journal reported. Neology paid $370 per square foot for the 46,870-square-foot warehouse sitting on 1.49 acres at 1090 Northwest 23rd Street. The property was sold in two separate deals, but the parcels together make up the original site, according to Sarah Gortarez, a commercial real estate analyst at Vizzda. The property, which the Rubells bought for $10.7 million in 2022 and includes a warehouse built in 1946, more than doubled in value. This deal follows […]

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13th Floor, Barings nab $134M construction loan for last tower in Miami Metrorail stop project

Lidia Dinkova — Thu, 11 Jun 2026 20:32:12 +0000

Developers locked in a $134 million construction loan for the final apartment tower at a mixed-use megaproject that’s been a decade in the making near a Miami Metrorail station. Coconut Grove-based 13th Floor Investments and Charlotte, North Carolina-based Barings have started construction of the 37-story, 392-unit Crescendo at the Link at Douglas complex that’s near the Douglas Road Metrorail Station, at the intersection of U.S. 1 and Douglas Road, according to the developers’ news release. The Link at Douglas project is in Miami’s Coconut Grove neighborhood and also near Coral Gables. The group of lenders was led by Santander Bank, […]

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Ken Griffin doubles down on Brickell development with 300 apartments

TRD Staff — Thu, 11 Jun 2026 18:00:00 +0000

Ken Griffin’s footprint on Miami is growing along Biscayne Bay. The Citadel founder and CEO revised his proposal for a 2.5-acre site at 1201 Brickell Bay Drive, adding a 300-unit apartment building and 1,420-space parking garage next to another office building he owns, Bloomberg reported. Griffin also bought up all the units of a 22-story condominium across the street, which he plans to demolish for future development. That buyout puts him just one property away from conquering the entire block, the outlet said. The development includes a 54-story, 1.7 million square-foot-office building, which will serve as headquarters for Citadel and […]

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Resi roundup: Thalía, Tommy Mottola sell for record price in Bal Harbour, Jose Mas buys teardown

Katherine Kallergis — Thu, 11 Jun 2026 15:48:45 +0000

Music producer Tommy Mottola, and his wife, Mexican singer and actress Thalía, sold a new mansion in Bal Harbour for nearly $17 million, setting a record for non-waterfront home sales in the luxury enclave. The sale is one of a few recent notable residential deals in South Florida. Property records show 174 Camden LLC sold the 8,200-square-foot home at 174 Camden Drive to Holand Land Holdings Florida LLC. The latter is controlled by Canadian car dealership mogul Gad Bitton, who owns Holand Automotive Group. The company has Ferrari, Rolls-Royce, and Lamborghini dealerships, including Lamborghini Palm Beach. The sellers LLC is owned […]

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Newrock draws fitness, dining tenants to Oakland Park multifamily developments

Grace McClung — Thu, 11 Jun 2026 13:30:00 +0000

Newrock Partners is bringing a roster of fitness, wellness and dining brands to Oakland Park’s North Federal Highway corridor, as tenants seek relative affordability compared to other parts of South Florida. The Oakland Park-based developer leased over 27,000 square feet of retail space to 13 tenants at its Oaklyn and Parklyn multifamily developments, Newrock Partners Principal Koby Assaraf said. Ten of those tenants, including Pure Barre, Carrot Express, Epic Cycles and Pause Studio, leased all 20,000 square feet of retail space at Oaklyn Park Apartments, according to Newrock. The complex at 3333 North Federal Highway includes 100,000 square feet of […]

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South Florida’s top deals: Tequesta home sells for near $14M

Mary Diduch, Veronica Udell — Thu, 11 Jun 2026 12:00:00 +0000

🏆 Residential: The top residential sale to hit records was in Tequesta, where a home at 19020 Point Drive sold for $13.8 million or about $1,800 per square foot. The buyers were Quintynn and Cassandra Botha, and the seller was an LLC managed by William E. Burford. Built in 2001, the home spans 7,500 square feet and has five bedrooms and five and a half bathrooms. The seller had purchased the property in 2025 for $11.5 million. Rob Thomson with Waterfront Properties & Club Communities had the listing; Dylan Snyder with Compass brought the buyers. 🏆 Commercial: In Riveria Beach, […]

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DR Horton chases south Miami-Dade supply in $17M on Homestead land buy

Eman Elshahawy — Wed, 10 Jun 2026 22:30:00 +0000

D.R. Horton purchased a development site in Homestead for $16.9 million, as homebuilders continue to seek developable land in south Miami-Dade. The Arlington, Texas-based homebuilder acquired 97 lots across two parcels, Aspen Estates East and Aspen Estates West, from M Aspen Homestead LLC, records show. The price amounts to about $174,000 per lot. D.R. Horton had the site under contract from M Aspen Homestead in 2024 through a $2.53 million mortgage deposit, records show. Spokespersons for D.R. Horton and M Aspen Homestead did not immediately respond to a request for comment. The acquisition comes as Homestead and south Miami-Dade have […]

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