Navigating the Currents of Commercial Real Estate: Insights from a Conversation In the dynamic world of commercial real estate, staying ahead requires not only understanding the current market trends but also engaging in insightful conversations with industry experts. Recently, a conversation on America’s Commercial Real Estate Show with Lonnie Hendry, Chief Product Officer at Trepp, provided a deep dive into the current state of commercial real estate financing and distress market movements, covering such topics as delinquencies, new loan issuance, transaction volume, interest rates, and str ..read more

The Discussion: Navigating Storm Clouds and Bright Spots: Insights on Commercial Real Estate As the economic landscape continually shifts, discussions surrounding the commercial real estate market are more pertinent than ever. Recently, on a segment dedicated to real estate, Hessam Nadji, CEO of a large brokerage, provided invaluable insights into the sector’s current state, highlighting both challenges and areas of resilience. The discussion is about commercial real estate in the United States at large, thus observations can apply less or even not at all to South Florida commercial property ..read more

Michael Stern pays $61M for Brickell site of Dolce & Gabbana supertall As questions swirl about the future of Michael Stern’s Brooklyn supertall, the developer appears to be all in on Miami. Stern’s JDS Development Group paid $61.2 million for the half-acre site at 888 Brickell Avenue, where the firm plans a Dolce & Gabbana-branded condo-hotel tower, property records show. A company tied to Grupo Mezerhane, led by Mashud Mezzerhane… New Renderings Revealed For Miami Tower Vying To Be Among Florida’s Tallest The 70-story Okan Tower, which dwarfs all of Florida’s current skyscrapers ..read more

The Conversation: Navigating the Current Landscape of the Restaurant Industry In a recent episode of *America’s Commercial Real Estate Show*, show host Michael delved into the current state of the restaurant industry with CEO Darren Tristano of Foodservice Results. Their insightful conversation provided valuable perspectives on the trends, challenges, and opportunities facing both restaurant operators and landlords in today’s market. Discussions include trends for food service labor, rent-to-revenue ratios, areas for growth in the industry, performance trends, expanding brands, concepts to be ..read more

Calculation of Discounted Present Value of Cash Flows for a Below Market Rent Ground Lease with 25 Years Remaining We recently had an owner of land on which a 99-year ground lease had been put in place nearly 75 years prior ask us for a broker opinion of value. The lease was at a flat annual rent, plus expenses, with no escalation, and is a fraction of current market rent for the property. Given my Wall Street experience, this seemed very much in my wheelhouse. Given the length of a ground lease like this, though it is a real estate interest, this would have financial characteristics more li ..read more

Blackstone’s $10 Billion Real Estate Deal: A Shift in Market Dynamics In a move signaling confidence in the property market, Blackstone recently closed a significant deal worth approximately $10 billion for another apartment landlord with its purchase of Apartment Income REIT.  This transaction underscores the real estate giant’s strategic decision to deploy capital amid changing market conditions and adds to growing investor sentiment that it’s now a good time to jump into the battered US property market. The conversation between Bloomberg’s Patrick Clark, Abigail Doolittle, and Sonali ..read more

Terra’s David Martin buys stake in Deauville Miami Beach site, plans reconstruction Developer David Martin acquired a minority stake in the site of the former Deauville Beach Resort, a property that billionaire developer Stephen Ross had under contract two years ago. Deauville Associates, led by the Meruelo family, sold a 25 percent interest in the 3.8-acre oceanfront property at 6701 Collins Avenue in Miami Beach for $12.5 million. TMG 67 Communities LLC… The Weekly Dirt: A brief history of the iconic Deauville In the deal that was recorded this week, the Meruelo family retained majority ..read more

The Conversation: Decoding the Trends in America’s Commercial Real Estate Market In the dynamic world of commercial real estate, understanding the broader perspectives and global trends can offer valuable insights into local markets. Recently, a conversation unfolded on America’s Commercial Real Estate Show, shedding light on the international investor view of commercial real estate in the US.  The show featured Gunnar Branson, CEO of AFIRE, who provided a comprehensive overview of the survey findings, including favored asset classes, sectors, and cities, and their view of future office ..read more

Active Multifamily Listings Commercial MLS Jan 2014 to Mar 2024 | Property Type Multi-Family Income, or Commercial/Industrial | Miami-Dade County | Price $5,000,000+ | Type Apartment, Income/Multifamily, or Multifamily Multifamily properties offered for sale generally go up on one or more listings platforms, one of which is the commercial MLS. It has seemed that there has been a rash of multifamily listings in recent weeks. Conveniently, the commercial MLS allows one to checks such a perception by viewing active listings counts over time, filtered for property type. In the chart above, we’ve ..read more

Carnival Lists 470K SF Miami Headquarters For Sale Carnival Corp. is looking to sell its massive headquarters in a Miami suburb and reduce its footprint in the city by around 35%. The cruise company has brought on Cushman & Wakefield to market its 470K SF headquarters in Doral and is looking to lease around 300K SF… Carnival’s 10-story office building at 3655 NW 87th Avenue sits on a 17-acre site with a large surface parking lot. Carnival Eyes Real Estate Jackpot: Reportedly Plans To Sell Miami HQ Amid Post-Pandemic Shifts Carnival Corp is reportedly eyeing the sale of its long-held Miami ..read more