Kast Construction named its first new CEO since 2010.
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CEO Mike Neal is retiring in December and the West Palm Beach-based construction company is tapping Chief Operating Officer and President Sean Ouellette to fill the role, according to a release.
“Sean has played an integral role in building KAST into the company it is today, and I have tremendous confidence in him as the right person to lead us into the future,” Neal said in a statement.
Neal has spent nearly 50 years in the construction industry. Before joining Kast as a shareholder and CEO in 2010, the University of Florida graduate worked in executive positions at Bovis Construction and Coscan Construction, according to his LinkedIn.
Ouellette has been with Kast since 2016, when he started as vice president of operations before he worked his way up to president and chief operating officer in October 2025, according to his LinkedIn.
He plans to diversify Kast's portfolio and expand its geographic reach. Ouellette, also a University of Florida graduate, has begun making leadership hires to support the company's expansion and developing a new training and professional development program to prepare recruits.
It is planning an Orlando office as part of its Central Florida expansion.
FINANCING
Blackstone Real Estate Debt Strategies provided a predevelopment loan to Terra and Fortune International Group to build a luxury condo building at 301 Ocean Drive, according to a release.
The developers acquired the 70-year-old Silver Sands Resort on the site in Key Biscayne in April 2025 for $205M with plans to replace it with luxury condos, which are expected to launch sales by the end of this year.
Plans for the project, designed by Touzet Studio and ODP, were approved by the city commission in October 2024 to include 56 condos across 13 stories with amenities that include several restaurants, a spa and a gym.
A Walker & Dunlop team of Keith Kurland, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean Reimer, Jordan Casella and Nicholas Gilhooley arranged the financing on behalf of the development team.
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BTI Partners and Bridge Investment Group secured a $109.2M Freddie Mac cash-out refinancing loan from Greystone for a 25-story, 362-unit apartment tower in Hollywood, according to a release.
The developers purchased the vacant building, called Hollywood Bread Building, in 2021 and finished building a new residential tower on the site in late 2025. It reached full occupancy in September.
The property at 1770 S. Young Circle offers 17K SF of retail and amenities like a pool, an outdoor kitchen, a gym and gathering spaces.
A Cushman & Wakefield team of Chris Moyer and Chris Lentz arranged the financing in collaboration with Greystone's Richard Kourbage, Gillian McIIroy and Zach Shabinsky.
CONSTRUCTION AND DEVELOPMENT
Miami-based Ytech is building a 52-story luxury condo building dubbed 75 Broadway in Brickell, according to a release.
The project will include 99 units and seven penthouses starting at $3M and has an anticipated completion for late 2029. Cervera Real Estate is the exclusive sales team for 75 Broadway.
The KPF-designed project is located next to Simpson Park and includes 42K SF of amenities, featuring a pool, pavilion, garden rooms, a library, dining room, study and a spa with a training room, yoga studio, a gym and a recovery and treatment room.
Residents will have a dedicated butler team from The British Butler Institute.
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Mast Capital and BH Group are planning the Raffles Residences Coconut Grove — the first Raffles Hotels & Resorts standalone residential development, according to a release.
The more than 140-year-old hotel brand has resorts all over the world, including Poland, Turkey, France and China.
The 35-unit project features condos starting at $4.5M.
Sales, expected to launch this fall, are led by a Douglas Elliman Development Marketing team of Matthew Chook, Lourdes Alatriste, Jennifer Goldstein and Jorge Sanchez.
BH Group and Mast Capital executed a condo buyout on the site at 2545 S. Bayshore Drive in March for $28M, The Real Deal reported.
LEASES
Banco do Brasil Americas signed a new 27K SF lease at a building in Brickell for its headquarters, according to a release.
The bank is relocating its headquarters from 1221 Brickell Ave. to the entire fourth floor of Brickell Arch at 1395 Brickell Ave. — a 36-story building with 268K SF of rentable office space, 16K SF of rentable retail space, a 225K SF hotel and 116 condos on the top 10 floors, according to landlord Gaedeke Group’s website.
A Colliers team of Tom Farmer, Stephen Rutchik and Ana Paula represented the landlord. A Cushman & Wakefield team led by Tony Jones represented BB Americas.
SALES
The 42K SF Arena Shops shopping center in North Miami sold for $32.5M, according to property records provided by Vizzda.
An entity connected to RK Centers, led by Miami Heat minority owner Raanan Katz, purchased the three buildings built in 1993 from an affiliate of Edens. The shopping center at 14750 Biscayne Blvd. is 100% leased to tenants like Total Wine & More, Chipotle, T-Mobile and Tatore Miami.
A JLL Capital Markets team of Danny Finkle, Jorge Portela and Jacob Wise represented the seller, according to a release.
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An affiliate of MIG Real Estate sold a 110K SF industrial flex asset to an affiliate of BKM Capital Partners, according to property records provided by Vizzda.
The three buildings at 3610 to 3890 Park Central Blvd. N. in Pompano Beach were built on nearly 9 acres in 1985 and sold for $33M.
The deal adds to BKM’s $3B spending spree on light industrial assets across the Sun Belt this year.
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The city of Coral Gables now owns the entire city block surrounding city hall after spending $24M on a medical office building, according to a release from Blanca Commercial Real Estate, which handled leasing for the building prior to the transaction.
The city purchased the 53K SF site at 475 to 495 Biltmore Way from ShareMD. Owning the entire block gives the city the ability to expand on the site later.
Under ShareMD’s ownership from 2019, occupancy rose from 82% to 94%, according to the release.
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