The Loan Committee™

In the first phase of the project, the 140,850 square feet of outdoor common areas will receive a renovation, including a new paint scheme, piers, bulkheads, new flooring on the upper levels, new stairs and railings, improved restrooms, enhanced tenant signage, lighting and landscaping.  In a future phase of the project, Bayside Marketplace would nearly double the size of its parking garage and add retail space along Biscayne Boulevard.  Author:  Brian Bandell.  Source.  South Florida Business Journal.  Learn more…

The vacant lots, old warehouses and dilapidated housing that have long characterized much of urban Fort Lauderdale are disappearing quickly. Revitalization of the area known as Flagler Village, west of U.S. 1 and sandwiched between Broward Boulevard and Sunrise Boulevard, got started a few years ago with FAT Village, (Flagler Arts and Technology), a strip of old warehouses that has been converted into galleries, performance spaces and hip businesses that cater to millennials.

Developers have followed, and now the roughly 300-acre neighborhood has 42 projects either in the planning stages or under development. Most are rentals aimed at young professionals, but there are also condo projects like Flagler 626, a 12-story tower at 626 Northeast First Avenue, which is expected to have 97 units including three townhomes at an average price of $350 per square foot. The project, which is in the final stages of the approvals process, is being developed by Israeli investors BRYL Development, LLC, and designed by Stewart Robin of Nest Plan. Units will range from studios to one-and two-bedrooms, with 671 square feet to 1,580 square feet.  Author: James Teeple.  Source.  The Real Deal.  Learn more…

The company that owns and runs the largest mall in America wants to build an even bigger one in northwestern Miami-Dade, a roughly 200-acre entertainment complex with submarines, a Legoland, sea lions and an artificial ski slope.

Backed by the owner of Minnesota’s Mall of America, American Dream Miami is proposed for land at the intersection of Florida’s Turnpike and Interstate 75 near Miami Lakes. It’s projected to cost as much as $4 billion to build and employ 25,000 people once opened, more than enough to give it Miami-Dade’s largest private-sector payroll.  Author: Douglas Hanks.  Source: The Miami Herald.  Learn more…

A powerful tool for real estate developers is tax optimization. However, without a proper understanding of tax incentives, these benefits may not be utilized fully. Also, while tax incentives may be a catalyst for a development, there may still be capitalization issues faced by the developer who cannot wait for the tax incentives to come until after the completion of the project. The best solution for these problems may be through the monetization of tax credits prior to the start of the project.

Tax incentives that are able to be monetized effectively are the New Market Tax Credit, the Low Income Housing Tax Credit, and the Historic Rehabilitation Tax Credit, among others.  read entire article… Source: Metropolitan Capital Advisors.

While many variables will determine the course of US commercial real estate, here are six potential trends for 2015 based on the current outlook. read entire article… Authors: Peter Burley and David Lynn.  Source:  URBANLAND

Institutional real estate investors paid record breaking prices to acquire South Florida’s most sought after trophy buildings in the past year. In some cases, sellers made more than a 50 percent profit as buyers continued to pay premium rates per square foot of commercial property. Click HERE to see the top 10 building sales for 2014.  Source:  The Real Deal.