13th Floor Unveils Boca Raton Apartments: The South Florida Deal Sheet
13th Floor Investments is developing more than 300 market-rate and workforce housing units near Boca Raton's Tri-Rail station.
13th Floor's eight-story development at 680 W. Yamato Road will be called Link at Boca, according to a release. Plans for the project were approved in January under the name Boca Village, The Real Deal reported.
The project is planned to begin construction this summer and include 340 market-rate and workforce housing units and more than 24K SF of retail. Its completion is slated for 2027.
Residents will have access to a social lounge and bar, coworking space, private offices, a yoga studio, and a golf and virtual reality simulation room. The project will also have a 650-space parking garage.
13th Floor tapped The Comras Co. to handle retail leasing, with available spaces ranging from 1,300 SF to 6K SF.
CONSTRUCTION AND DEVELOPMENT
Mount Sinai Medical Center broke ground on its emergency center in Westchester with plans to open its first phase by mid-2026, according to a release.
The project at 8200 SW Eighth St. will be completed in three phases, with the first phase taking the form of a four-story building that spans 112K SF. The development will include Mount Sinai’s largest freestanding center with 27 emergency bays, a Baker Act receiver unit and imaging services like MRIs, CT scans and ultrasounds. It will also hold a café and cafeteria on the first floor.
The second phase, set to complete in late 2027, would entail the build-out of the second to fourth floors. It will hold inpatient and observation beds, a procedural platform that will include surgery, cardiac catheterization, gastrointestinal procedures and postanesthesia care.
The third phase is still in planning.
MILESTONES
Kadima Developers is launching presales for its $70M condo development in Hallandale Beach after securing city approvals and entitlements, according to a release.
Seven Park is set to rise eight stories at 218 to 220 SE Seventh St. with 121 residences and 4K SF of retail. The 200K SF project would have studios to three-bedroom units spanning 500 SF to 1,645 SF, starting at $375K. Fortune Development will lead sales and marketing for Seven Park.
FINANCING
The Forbes Co. and Craig Robins’ Miami Design District Associates landed a $125M construction loan for a multifamily project in the Design District, according to a release.
A Walker & Dunlop team of Sean Reimer, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Jordan Casella and Michael Stepniewski secured the financing from Amerant Bank and Bank Hapoalim.
The 20-story Cassi Miami is set to rise at 91 NE 36th St. with 107 units and 23K SF of retail. Apartments range from one to three bedrooms with an average size of 1,510 SF.
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Immocorp Ventures LLC, a joint venture between Immocorp Capital and Beachwold Residential, landed a $117M senior construction loan from Centennial Bank for a mixed-use development in West Palm Beach, the bank announced.
The District at Northwood at 2484 Pinewood Ave. broke ground last year and is slated for completion in 2026. The development will feature 382 units and 61K SF of ground-floor retail, including a 22K SF grocery store. Amenities for residents will include a rooftop entertainment complex, an indoor and outdoor fitness studio, paddle courts, coworking space and a pet park.
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VDA Development landed a $30.5M construction loan from S3 Capital for its condo development in Bay Harbor Islands, according to a release.
The 27-unit Origin Bay Harbor project is projected to complete in 2026 at 9740 to 9760 W. Bay Harbor Drive. Residences range from two to four bedrooms between 1,440 SF and 2,800 SF, according to its website. Twenty out of 27 units are presold and under contract for $1.5M to $4M.
LEASES
Seritage Growth Properties landed 17 new leases for its Esplanade at Aventura shopping mall, according to a release.
The leases total nearly 55K SF, spanning tenants from fitness studios to restaurants at 19505 Biscayne Blvd.
New retailers coming to the mall include Anatomy Fitness with 25K SF, Pura Vida Miami with nearly 4K SF, Starbucks with 2,800 SF, Wairua Beauty with 915 SF and The Keyes Co. with 2K SF. The new tenants are set to open between the fall of 2025 and early 2026.
SALES
An entity tied to Continental Realty Corp. purchased the CityPlace Doral shopping center for $87.5M, according to property records provided by Vizzda.
As part of the deal, Continental assumed seller PGIM Real Estate’s $86.7M loan with Synovus Bank, originally issued by Deutsche Bank, which had an unpaid balance of $58M at the time of sale.
The 255K SF retail complex at 8300 NW 36th St. consists of 10 buildings constructed between 2016 and 2017. CityPlace Doral is home to 30 retailers and is anchored by The Fresh Market, Cooper’s Hawk and Anatomy Fitness. It was approximately 80% leased at the time of the sale, I95 Business reported.
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An entity tied to a partnership between Kolter Group and Perko Group bought out 38 units in the Flagler House and plans to replace it with a new luxury condo building, the South Florida Business Journal reported.
The developers completed the buyout at 3705 S. Flagler Drive with purchases significantly above market value, according to the SFBJ. The entity, PK Flagler House, filed plans for the Flagler House property in 2024 for an 18-story tower with 39 condos.
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EOS Wellness Real Estate Miami LLC purchased an Office Depot in Miami Beach’s Sunset Harbour for $28.5M, according to a release.
The all-cash deal is for a 20K SF retail building built in 1965 on a 0.6-acre lot at 1771 West Ave., according to LoopNet. Paul Snitkin of Anderson Carr represented the seller, while Aaron Butler of Avenue Real Estate Partners and Jordan Karp represented the buyer.
PEOPLE
Meyers Group appointed Alan Losada as its new CEO following the passing of the firm's founder, Stuart Irwin Meyers, according to a release.
Meyers, who founded The Related Cos. Florida LIHTC Group, The Cornerstone Group and Meyers Group, developed more than 20,000 rental units across Florida and Texas, the South Florida Business Journal reported.
Aventura-based Meyers Group tapped Losada to lead the company after he served as president.
His experience stems from his more than 30-year career in multifamily rental, hotel and condo development. Before joining Meyers Group, Losada worked as vice president of operations at the Related Group, and before that, he managed a portfolio of commercial, residential and condo projects with Pacific International Equities for 13 years.
