South Florida - The Real Deal

Kolter starts Delray Live Local rental project with $92M financing

Eman Elshahawy — Wed, 17 Jun 2026 23:16:09 +0000

Kolter Multifamily kicked off construction of its Live Local Act apartment project Alton Delray after landing $91.7 million in financing, records show. The Delray Beach-based developer scored the loan from U.S. Bank for the 386-unit multifamily development planned at 2101 South Congress Avenue in Delray Beach. Forty percent of the apartments, or 155 units, will be dedicated to workforce housing under Florida’s Live Local Act. A Kolter entity paid $21.9 million in 2024 to acquire the 12.3-acre industrial-zoned site from the George T. Elmore Trust, records show. The Live Local Act allows developers to build multifamily projects on commercial sites […]

This article originally appeared on The Real Deal. Click here to read the full story.

Bass Pro Shops rings up Cheeca Lodge resort in Florida Keys

Grace McClung — Wed, 17 Jun 2026 21:19:28 +0000

Bass Pro Shops hooked Islamorada’s 27-acre Cheeca Lodge & Spa, adding the luxury fishing and sporting resort to its multi-billion-dollar portfolio. The outdoor retailer, led by Johnny Morris, acquired the property at 81801 Overseas Highway in the Upper Keys from Northwood Investors for an undisclosed amount, according to a news release. The sale was completed under the advisement of JLL. Northwood Investors, led by John Kukral, asked $300 million for the property earlier this year, The Real Deal previously reported. Northwood Hospitality will continue to operate the 254-room resort, which its parent company acquired in 2011. Since then, Northwood Investors […]

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Steve Ross buying Boca Raton’s ex-IBM campus, plots mixed-use “micro city”

TRD Staff — Wed, 17 Jun 2026 20:30:00 +0000

Steve Ross, the billionaire developer who is reshaping West Palm Beach, has set his sights on Boca Raton’s former IBM campus, the state’s largest single office complex, seizing on existing approvals for a mixed-use project. Ross is nearing closing on a deal to purchase the 1.7 million-square-foot Boca Raton Innovation Campus, at 5000 T-Rex Avenue, for an undisclosed price, with plans for a “micro city” created through additional construction on parking lots around the former IBM building, the Palm Beach Post reported. Related Ross, the West Palm-based real estate firm Ross founded in 2024, confirmed the firm plans to buy […]

This article originally appeared on The Real Deal. Click here to read the full story.

Inside litigation surrounding Amrit Ocean Resort condo-hotel

Katherine Kallergis — Wed, 17 Jun 2026 20:09:17 +0000

In December 2023, David Stern closed on his $1.8 million purchase of a unit at Amrit Ocean Resort, an oceanfront condo-hotel on Singer Island, a barrier island north of Palm Beach. The following year, he found himself in the courts, suing the developer and managers of the LLCs that built the two-tower project on a nearly 7-acre plot of land at 3100 North Ocean Drive in Riviera Beach. His lawsuit hinged on the Florida statute governing condo associations and turnover of the associations’ boards. Stern alleged the developer failed to hand over control to the unit owners in a timely […]

This article originally appeared on The Real Deal. Click here to read the full story.

Kushner, Cain pay $43M for Edgewater site amid apartment rent-growth predictions

Grace McClung — Wed, 17 Jun 2026 18:59:28 +0000

Cain and Kushner paid $43.1 million for a site in Edgewater where they’ve been planning a 364-unit luxury apartment tower. The firms bought the 1.5-acre property at 614 and 720 Northeast 27th Street from an entity tied to a joint venture between Miami-based OKO Group and Cain. London-based Cain, led by Jonathan Goldstein, and New York-based Kushner, headed by Laurent Morali and Nicole Kushner Meyer, have been planning the 40-story project since April. BDT & MSD Partners provided a $42 million loan for the development, with construction expected to start late next year, The Real Deal previously reported. The property […]

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Illustrated Properties launches commercial division amid broader industry consolidation

Eman Elshahawy — Wed, 17 Jun 2026 17:11:16 +0000

Illustrated Properties is making a bigger leap into commercial real estate with the launch of a division led by industry veteran Shane McCain as the brokerage looks to expand beyond its residential roots in Palm Beach County and the Treasure Coast. McCain will serve as director of commercial real estate for the Palm Beach Gardens-based firm, which has more than 600 agents across 20 South Florida offices. The division will provide brokerage and advisory services to investors, developers and business owners across the office, retail, industrial, multifamily, land, hospitality and medical sectors. McCain said Illustrated previously had a commercial operation, […]

This article originally appeared on The Real Deal. Click here to read the full story.

Follow the money: Engel & Völkers franchise owner expands into Palm Beach region

Katherine Kallergis — Wed, 17 Jun 2026 13:00:00 +0000

The New York to South Florida pipeline is extending to the residential brokerage industry, where Engel & Völkers franchise owner Donald Brennan acquired the Palm Beach office. Brennan, who owns franchises in Manhattan, Brooklyn, New Jersey and the North Fork of Long Island, acquired the rights to the geographic zone that includes a dozen ZIP codes in West Palm Beach, Palm Beach, Manalapan, Lake Worth Beach, North Palm Beach, Juno Beach and a slice of Palm Beach Gardens, according to a spokesperson. Engel & Völkers expanded to West Palm Beach last year through its former license partners Enrique Vicente Urdaneta […]

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South Florida’s top deals: Bal Harbour property trades for $26M

Mary Diduch, Veronica Udell — Wed, 17 Jun 2026 12:00:00 +0000

🏆 Residential: Bal Harbour had the top home sale recorded in South Florida. An LLC led by smartphone mogul Samuel Ohev-Zion sold a home at 166 Bal Bay Drive for $26 million. The buyer was a company managed by Moses Strauss, a real estate investor, and interior designer Susan Strauss. Douglas Elliman’s Ruthie and Ethan Assouline of the Assouline Team represented the buyer and seller. The property dates to 1995 and Ohev-Zion and developer Jacob Ohayon planned a $45 million spec mansion for the site, which last sold in 2024 for $16.5 million. 🏆 Commercial: The top commercial sale to […]

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Broward County drops pursuit of Spirit Airlines Dania Beach HQ

Grace McClung — Tue, 16 Jun 2026 23:00:00 +0000

Broward County has abandoned its effort to bid on part of Spirit Airlines’ former Dania Beach headquarters, which is headed to auction next month. County Commissioner Michael Udine withdrew a motion in a Tuesday meeting to allow the county administrator to make a bid for part of the 8.5-acre campus at 1731 Radiant Drive. The complex is part of the larger mixed-use development Dania Pointe, owned and operated by Kimco Realty. Broward County was eyeing the campus for a new government building. The former headquarters has 615,600 square feet of office space, parking, training facilities and temporary housing. It was […]

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“Nonsensical”: Miami-Dade votes to pursue Fisher Island site via eminent domain

Katherine Kallergis — Tue, 16 Jun 2026 22:30:00 +0000

The Miami-Dade County Commission voted to pursue acquiring the Fisher Island fuel terminal property via eminent domain, escalating the battle over the nearly 10-acre site. Commissioner Raquel Regalado was the sole “no” vote at the Tuesday meeting, to amend the property description as the county moves ahead with the eminent domain process as previously approved by the commission in October. Earlier this month, Miami-Dade Mayor Daniella Levine Cava ended negotiations with the property owner to acquire the site for $400 million. “I cannot support this item, but I hope I’m wrong,” Regalado said. “I hope that we buy a wonderful […]

This article originally appeared on The Real Deal. Click here to read the full story.