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The 89-year-old hotel sold for a discount within less than four years.
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It was one of several eight-figure multifamily transactions in the region this past week.
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Florida business owners leasing space score a small win through the recent state tax cuts.
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The soccer team is relocating its headquarters from New York City.
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The Bainbridge Cos. and Rockwood Capital sold an apartment complex in Coconut Creek for a sizable profit.
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The retail underpins the $6B project, which has been in the works since the early 2000s.
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Property Reserve, the Mormon Church’s investment arm, bought Boca Raton’s 384-unit Del Ola apartments for $152M from Clarion and Cortland.
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A $10 theater deal for Pitbull’s charter school leads a week of big South Florida CRE moves, from $500M Brickell towers to fresh industrial buys.
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The Japanese financial services group provided the refinancing to a joint venture between Stiles and Shorenstein Investment Advisers.
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The University of Miami signed for more than 40K SF to provide office space for its health system.
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