DC Realty Advisors

SOFA Delray development scores $29.7M loan SunTrust Bank has provided a $29.7 million mortgage for the SOFA Delray apartment project. RD Delray LLC, an affiliate of Miami-based the Related Group, arranged the loan to develop its 172-unit project in Delray Beach, according to the South Florida Business Journal. SOFA refers to the expre

Large Boca Raton office trades for $76M One of the largest office buildings in South Florida has traded hands to the tune of $76.35 million. One Boca Place Inc. sold the nearly 277,390-square-foot property to a joint venture managed by Crocker Partners and listed as CP Boca Place, the South Florida Business Journal reported. The pr

Company linked to Blackstone grabs Boca Raton hotel A company tied to New York’s the Blackstone Group paid $12 million for a Marriott-branded hotel in Boca Raton. BRE Newton Hotels Property Owner acquired the Residence Inn Boca Raton at 525 Northwest 77th Street in a transaction recorded on Monday, according to Palm Beach County records. LES

A mind is like a parachute. It doesn't work if it isn't open.

TIAA-CREF sells Boca offices at $27M loss New York asset manager TIAA-CREF took a major hit on the sale of two office buildings and a vacant property in Boca Raton. TIAA-CREF sold about 350,000 square feet of office space at 5201 Congress Avenue and 901 West Yamato Road in two transactions totaling about $35 million, according to Pal

Market Trends Hospitality — With more money available for construction lending, Pittsburgh has become a mecca for limited-service hotels, with the number of rooms increasing more than 1,000 percent since 2007, according to a HotelNewsNow.com analysis of STR data. Other markets experiencing exponential hotel growt…

Condo comeback: More projects in works The recovery in Palm Beach County’s condominium market has lagged the overall housing rebound, but with inventory near depletion and a revival in urban living, sale prices and new projects are hitting post-boom highs.

Fort Lauderdale transit hub sparks development A $30 million train station is transforming the Broward Boulevard area and sparking more development.  The terminal for the high-speed passenger train project All Aboard Florida is reportedly fueling interest in the real estate industry and other business sectors. Ultimately, experts say t

Boca medical offices trade for $14M A Boca Raton medical office building near Florida Atlantic University changed hands for about $14 million. Four Miami-based companies sold the 501 West Glades Road property in a transaction recorded on Friday, according to Palm Beach County records. The nearly three-acre parcel includes a 22,

Argentine investor gets downtown land for $125M A new-to-market player from Argentina is the buyer of the waterfront property adjacent to the EPIC Hotel & Residences in downtown Miami, The Real Deal has learned. The partnership between developers Ugo Colombo and Diego Lowenstein sold the 1.25-acre parcel at 300 Biscayne Boulevard Way f

South Florida’s active listings increase for the week Active listings for housing inventory in the South Florida region increased last week to 41,861, according to weekly data from Condo Vultures. For the seven-day period ending Monday, pending sales dipped from 21,743 to 21,450 week-over-week. Over the past four weeks, pending sales declined by