Financial Consulting Firm To Open 26K SF Miami Office: The South Florida Deal Sheet
A financial services firm struck a sizable deal to open its first Miami office.
Skyline Financial signed a 26K SF lease at 1501 Biscayne Blvd., formerly known as the Omni Offices, according to Colliers.
Colliers’ Kevin Gonzalez and Ana Paula represented the landlord, Resorts World Omni LLC. Cervera Real Estate’s Nickel Goeseke represented the tenant, which connects those in debt with payoff solutions. It doesn't list a current office on its website.
The 435K SF 1501 Biscayne building is part of the 1.5M SF mixed-use Omni Center, which also has 300K SF of retail and a 527-key Hilton hotel owned by a subsidiary of Malaysian gaming giant Genting Group.
This is among other new-to-market tenants at the property, like Toronto-based trade school Skilled Trades College, which plans to occupy 30K SF.
FINANCING
Rilea Group landed a $150M construction financing package from Nuveen Green Capital and Abanca USA for a planned 300-unit multifamily building, Mohawk at Wynwood, according to a release.
Nuveen Green Capital, an affiliate of Nuveen, provided a $124.5M commercial property assessed clean energy loan, which provides building owners and developers with alternative funding for energy-efficiency and renewable energy-related new construction. Abanca provided the remaining $25M.
The project is set to rise along Northwest 29th Street, with completion expected in 2028. Residences will range between studios and one-to-three-bedroom units as well as first-floor condos with private backyards and 30K SF of retail.
Financing was arranged by Javier Herrera of Franklin Street.
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Property Markets Group landed a $115M construction loan from GoldenTree Asset Management for the Sage Intracoastal Residences Fort Lauderdale condo building, according to a release.
The financing will fund the construction of the 28-story, 44-unit condo tower with plans for two-to-four-bedroom units that will start at 2,770 SF. There will only be two units per floor. The 19K SF of amenities include a spa, a pool, a bar and lounge with a water view, and an indoor golf simulator.
Sage Intracoastal Residences, set to rise at 900 Intracoastal Drive, is replacing a 16-unit co-op building built in 1957, which PMG demolished after purchasing it in 2024 for nearly $20M.
PMG broke ground on the residences in November and expects to complete the project by next year.
SALES
Gencom reacquired a majority stake in The Ritz-Carlton Coconut Grove, according to a release.
The hospitality investment firm led the original acquisition of the asset in 2011 but sold its stake in 2017 to Hersha Hospitality. Now, after taking on an undisclosed amount from Banco Inbursa to finance the acquisition, Gencom is the sole owner.
The property at 3300 SW 27th Ave. is a 21-story hotel that opened in 2002 and underwent a renovation in 2018, updating the property's hotel rooms, lobby, pool and restaurants.
This is the second time Gencom has bought its majority stake in a Ritz-Carlton hotel back. In 2024, the company paid $400M to buy back its two-thirds interest in the 291-key Ritz-Carlton Key Biscayne it sold in 2015.
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An entity tracing to Morgan Stanley sold a three-building distribution warehouse in Pompano Beach to CenterPoint Properties for $124M, according to property records provided by Vizzda.
The multitenant distribution center, dubbed Bridge Point Powerline Road, was built in 2019. Located at 1971 to 1991 N. Powerline Road, the three buildings total 467K SF.
The sale is a significant jump in value, almost doubling since the Wall Street bank paid $69M for the property in 2019.
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Brightline sold a Fort Lauderdale parking garage connected to one of its stations for $17M amid efforts to raise $100M in debt for operations, the South Florida Business Journal reported.
FTL Garage LLC, an affiliate of Brightline, sold the garage to Reve Ventures LLC, the SFBJ reported. The sale price is less than the $21M the company paid for it in 2023.
The seven-story garage at 300 NW Second St. was marketed by JLL for $20M, with plans to lease it back for 25 years.
Despite a roughly 20% ridership increase between October 2024 and 2025, the Fortress Investment Group-owned Brightline lost nearly $550M in 2024, The Real Deal reported.
S&P Global Ratings lowered its ratings on Brightline Trains Florida LLC’s $2.2B debt from BB- to CCC. It also downgraded the rating on the company’s parent company, Brightline East, which has $1.1B of notes, to CCC from CCC+, according to the S&P website.
S&P said there is an increased probability that Brightline will default on its loans by early 2027.
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Dallas-based Stonelake Capital Partners purchased a 142K SF warehouse from window and door manufacturer Jeld-Wen for $38M, according to property records provided by Vizzda.
The building was built in 1998 at 12421 NW 39th St. in Coral Springs. The sale comes after the North Carolina-based company announced it was cutting 850 North American jobs, the South Florida Business Journal reported.
The company plans to lease the space back, the SFBJ reported.
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The city of West Palm Beach gained full ownership over an office and retail building for $25.5M, according to property records provided by Vizzda.
Navarro Lowrey, led by local developer Frank Navarro, assigned its ground lease to the West Palm Beach Community Redevelopment Agency, which was its landlord. The CRA voted to buy out the land lease and finance it with up to $29M in tax increment revenue bonds, the South Florida Business Journal reported.
The CRA purchased the property in 2009 for $6M and chose Navarro Lowrey to develop the 1.3 acres. In 2021, Navarro Lowrey built the three-story building at 185 Banyan Blvd., the SFBJ reported.
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An entity tracing to CTO Realty Growth purchased a shopping center in Pompano Beach from Sterling Organization for $65M, according to property records provided by Vizzda.
The open-air shopping center at 1955 N. Federal Highway, named Pompano Citi Centre, has five buildings that were built in 1969, 2006, 2007, 2014 and 2021. Across the 509K SF, T.J. Maxx is an anchor tenant. In June, it was announced that Nordstrom Inc. would be opening a Nordstrom Rack at the center this fall.
