All The Records South Florida CRE Broke In 2025
Miamians may not know how to function in a season other than summer or drive across town without hitting traffic, but if there’s one thing they’ve mastered, it's going big or going home.
And this year, South Florida’s commercial real estate did just that, with seven of the biggest or most expensive deals in the market's history struck in 2025.
These deals span all sectors — the largest sales, leases and loans by neighborhood, across the tri-county area and, in some cases, the entire state.
If it broke a record this year, it made the list.
It was a competitive year, with some deals beating others within weeks of each other and some companies topping their own records. This list was curated through a Bisnow analysis of past coverage with records provided by CBRE.
Related Ross Lands Florida's Largest Construction Loan
Two weeks before 2025 came to a close, Related Ross swooped in with a $772M construction loan for two upcoming office towers in downtown West Palm Beach — marking the largest construction loan ever recorded in Florida.
The company, led by billionaire and Miami Dolphins owner Stephen Ross, landed the sum for 10 and 15 CityPlace in a package led by Ares Real Estate, Monarch Alternative Capital and HPS Investment Partners.
Both buildings are expected to deliver in 2027.
The deal surpassed the $668M construction loan Property Markets Group secured last year to build the Waldorf Astoria Hotel & Residences Miami. Bank OZK and Related Cos. subsidiary Related Fund Management were the lenders on that deal.
Ross came close to breaking the record earlier this year when it landed a $600M loan from Bank OZK and GoldenTree Asset Management to finish the 105-unit, 28-story South Flagler House condo tower — but it was no cigar.
Palm Beach's Largest Refinancing Breaks $1B
BDT & MSD Partners, led by Michael Dell, refinanced its 1,047-key Boca Raton Resort & Club with a $1.15B mortgage, Commercial Observer reported.
Citigroup supplied $862M, and Goldman Sachs provided the remaining $287M in the largest refinancing loan to hit Palm Beach County, according to CBRE.
The two-year, floating-rate package will pay off the $1B refinancing loan BDT & MSD obtained in 2024.
The hotel, built in 1926, sits on a 165-acre property at 501 E. Camino Real. The property includes 120K SF of indoor and outdoor event space, 30K SF of retail, 20 food and beverage storefronts, an 18-hole golf course, two fitness centers, 16 tennis courts, four pickleball courts, a 50K SF spa and a 32-slip marina.
ServiceNow Signs Largest Palm Beach Office Deal
It wouldn't be a list about record-breaking deals if Related Ross weren't on it more than once.
The firm signed ServiceNow, a human resources software company, as the first tenant for 10 CityPlace in West Palm Beach.
The 200K SF lease for the tech company’s regional headquarters and artificial intelligence institute is the largest office relocation to Palm Beach County, according to CBRE. ServiceNow expects to move in to the 25-story, 480K SF office tower at 550 S. Rosemary Ave. by 2028.
Miami's Largest Housing Project Ever — By A Lot
A development team led by Coconut Grove-based Swerdlow Group brought the $2.6B, 63-acre Little River District proposal to the county this year and won approval in April.
SG Holdings, a partnership of Swerdlow Group, SJM Partners and Alben Duffie, plans to build 5,730 units, 370K SF of retail space, 250K SF of green space and, with a personal investment of $35.4M, a new Tri-Rail station in Miami’s Little River and Little Haiti neighborhoods.
The project, named Little River District, will knock down and replace Miami-Dade Housing and Community Development complexes Victory Homes, Newberg, Gwen Cherry 22, Gwen Cherry 6 and New Haven Gardens. The developers signed a 99-year lease for the publicly owned complex as part of the deal.
The developers said all of the public housing residents would be relocated to the new buildings, which will allocate 2,284 units to affordable housing at 60% of the area median income and 1,398 units at 120% of AMI.
Groundbreaking is projected for 2026 with an eight-year build-out.
South Florida's Largest C-PACE Loans
Naftali Group landed a $235M commercial property assessed clean energy loan for the 67-story, 700-foot condo and apartment tower in Miami Worldcenter — marking South Florida’s largest-ever C-PACE loan.
The New York-based company, led by Miki Naftali, partnered with Nuveen Green Capital, a Nuveen affiliate, for the C-PACE financing. Bank Hapoalim supplied an additional $230M in traditional construction loans for the Jem Private Residences, bringing the total to $465M.
C-PACE is a form of financing provided to building owners and developers for energy-efficiency and renewable energy-related new construction costs and maintenance upgrades.
Naftali had obtained a $40M C-PACE loan in January to finance the building’s energy and resiliency measures to the exterior, lighting and elevator systems.
The deal topped the record that was set just two months prior.
North Development landed a $180M C-PACE loan for the 579-unit Domus Brickell Center condo project. The building qualifies with UV-filtered water, purified air in common areas, windows that prevent sunlight from heating the building and insulation systems.
Amazon Signed Wynwood's Largest Office Lease, Then Went Back For Seconds
Amazon leased more than 50K SF at L&L Holding Co., Oak Row Equities, Shorenstein Investment Advisers and co-investor Claure Group’s Wynwood Plaza in January.
But the global e-commerce giant, led by Miami native Jeff Bezos, wasn’t satisfied and expanded its lease in June to 76K SF, breaking its own record for the neighborhood’s largest lease.
The developers were represented by Cushman & Wakefield’s Andrew Trench, Edward Quinon and Brian Gale. Amazon was represented by Tom Capocefalo and Mike Catalano of Savills.
Wynwood Plaza celebrated its grand opening at 95 NW 29th St. in October. It consists of a 12-story office tower, which also houses tenants like OKO Group and law firm Weitz & Luxenberg, 509 rental apartments, retail space and restaurants across 1M SF.
Priciest Freestanding Restaurant
Catch Miami, a New York seafood concept that opened in Miami Beach in 2024, sold for $28.2M.
Rivani, a real estate company led by Robert Rivani and formerly known as Black Lion, sold the restaurant to River Oaks Properties.
The 23K SF property at 200 South Pointe Drive doubled in value after Rivani purchased it for $11.5M in 2022. The two-story building, built in 2014, neighbors the Continuum South Beach condo complex and The Hills at South Pointe Park.
A JLL Capital Markets team of Alex Sharrin and Jeffrey Circurel represented Rivani, and Pegasus Investments’ David Chasin and Daylin Ackerman represented River Oak Properties.
