Co-working firm Spaces moving into 1111 Lincoln

Co-working firm Spaces moving into 1111 Lincoln

Mark Dixon, CEO of IWG and 1111 Lincoln

Mark Dixon, CEO of IWG and 1111 Lincoln

The co-working firm Spaces just leased a lot of space in one of Miami Beach’s marquee properties.

Spaces leased 51,064 square feet at 1111 Lincoln, at the corner of Alton Road and Lincoln Road. The lease covers 55 percent of the total office space at the building.

The property is known for its large parking garage designed by Swiss architectural firm Herzog & de Meuron that some say resembles a “House of Cards.” The property has 94,488 square feet of office space and 51,839 square feet of retail and restaurant space.

Current tenants include Juvia, Ted Baker, Osklen, Shake Shack and Douglas Elliman, according to a press release. 1111 Lincoln is now 95 percent occupied, said Kevin Gonzalez, vice president at CBRE, in the release.

CBRE’s Diana Parker and Gonzalez represented the landlord. JLL’s Gavin Macphail represented Spaces in the lease negotiations.

Spaces is owned by IWG Plc, the parent company of Regus.

This is the second big lease Spaces has secured this month. It also signed a lease to occupy 49,000 square feet at 801 Brickell Avenue, a 28-story office building. In January, it announced a lease for nearly 43,000 square feet at One CocoWalk, an office building under construction in Coconut Grove.

Spaces currently has two other sites open in South Florida, in Wynwood and Fort Lauderdale, according to its website.

The flexible office space market is growing in South Florida, but experts have warned that the region doesn’t attract the blue-chip clients that are increasingly bolstering co-working firms across the country. Since 2015, WeWork has taken up more than a quarter million square feet of office space in Miami-Dade, close to five times the square footage Büro occupies at its five locations, which range from 10,000 to 20,000 square feet, according to a recent analysis by The Real Deal.

Co-working firm Spaces moving into 1111 Lincoln

Spaces also signed a lease at 801 Brickell earlier this month

Mark Dixon, CEO of IWG and 1111 Lincoln

Mark Dixon, CEO of IWG and 1111 Lincoln

The co-working firm Spaces just leased a lot of space in one of Miami Beach’s marquee properties.

Spaces leased 51,064 square feet at 1111 Lincoln, at the corner of Alton Road and Lincoln Road. The lease covers 55 percent of the total office space at the building.

The property is known for its large parking garage designed by Swiss architectural firm Herzog & de Meuron that some say resembles a “House of Cards.” The property has 94,488 square feet of office space and 51,839 square feet of retail and restaurant space.

Current tenants include Juvia, Ted Baker, Osklen, Shake Shack and Douglas Elliman, according to a press release. 1111 Lincoln is now 95 percent occupied, said Kevin Gonzalez, vice president at CBRE, in the release.

CBRE’s Diana Parker and Gonzalez represented the landlord. JLL’s Gavin Macphail represented Spaces in the lease negotiations.

Spaces is owned by IWG Plc, the parent company of Regus.

This is the second big lease Spaces has secured this month. It also signed a lease to occupy 49,000 square feet at 801 Brickell Avenue, a 28-story office building. In January, it announced a lease for nearly 43,000 square feet at One CocoWalk, an office building under construction in Coconut Grove.

Spaces currently has two other sites open in South Florida, in Wynwood and Fort Lauderdale, according to its website.

The flexible office space market is growing in South Florida, but experts have warned that the region doesn’t attract the blue-chip clients that are increasingly bolstering co-working firms across the country. Since 2015, WeWork has taken up more than a quarter million square feet of office space in Miami-Dade, close to five times the square footage Büro occupies at its five locations, which range from 10,000 to 20,000 square feet, according to a recent analysis by The Real Deal.

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Purvis Young Receives The Spotlight at the Institute of Contemporary Art, Miami

Purvis Young Receives The Spotlight at the Institute of Contemporary Art, Miami

It may seem odd that one of Miami’s hottest contemporary artists actually passed away almost a decade ago. But the painter Purvis Young hardly played by the rules of the art world even w…

La boda de Adamari López y Tony Costa no tiene fecha definida

La boda de Adamari López y Tony Costa no tiene fecha definida

Una de los matrimonios del espectáculo más esperados podría ser aplazado temporalmente por diversos motivos. Se trata de la unión entre Adamari López y Toni Costa, según publicó ElDiariony

Por Redacción Miami Diario

Durante la gala de los 50 más bellos de People En Español, Costa indicó lo siguiente: “Queremos este año pero estamos barajando otra fecha para el año que viene”.

Agregó que hay muchos compromisos y «tenemos que cuadrar bien agendas… Una boda no es un día, son muchos más porque después te tienes que ir de luna de miel, así es que es una cosa que se debe hacer con calma para poder disfrutarla, indicó Toni.

El público ha esperado mucho tiempo para ver al boricua dando el sí acepto. Lo cierto es que la boda de Adamari es el evento más esperado del año. 

Con información de: ElDiariony

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La entrada La boda de Adamari López y Tony Costa no tiene fecha definida se publicó primero en Miami Diario.

REITs’ investments in the American mortgage market are skyrocketing

REITs’ investments in the American mortgage market are skyrocketing

REITs upped their portfolios of mortgage bonds to $308 billion

REITs upped their portfolios of mortgage bonds to $308 billion (Credit: iStock)

Real estate investment trusts are betting big on the country’s mortgage market.

REITs that buy residential home loans upped their portfolios of mortgage bonds to $308 billion over the past 12 months through March, an almost 28 percent increase. This was the biggest stockpile in six years, according to the Wall Street Journal, citing data from Inside Mortgage Finance.

Most of the growth was driven by Annaly Capital Management and AGNC Investment Corp.

REITs have become an important financing source in the housing market, especially as the Federal Reserve reduces its mortgage bonds portfolio. However, some analysts are concerned that this shift is giving more mortgages to leveraged companies without much oversight. During the last downturn, some of the riskier mortgage REITs went bust.

That said, banks are not as involved in the mortgage market now as they were prior to the financial crisis. But they do provide REITs making those same investments with short-term financing.

Annaly and some of the other REITs are buying several mortgages that Fannie Mae and Freddie Mac have traditionally focused on, and this segment of the market could continue to grow if the government tries to shrink Fannie and Freddie. Both companies recently tweaked their securities to make it easier for REITs to buy them.

“If the goal is to disburse more and more risk, you have to get more investors involved,” chief economist at the Mortgage Bankers Association Michael Fratantoni told the Journal. [WSJ] – Eddie Small

REITs’ investments in the American mortgage market are skyrocketing

REITs’ investments in the American mortgage market are skyrocketing

Portfolios of mortgage bonds increased to $308B over past year through March

May 28, 2019 09:01AM
REITs upped their portfolios of mortgage bonds to $308 billion

REITs upped their portfolios of mortgage bonds to $308 billion (Credit: iStock)

Real estate investment trusts are betting big on the country’s mortgage market.

REITs that buy residential home loans upped their portfolios of mortgage bonds to $308 billion over the past 12 months through March, an almost 28 percent increase. This was the biggest stockpile in six years, according to the Wall Street Journal, citing data from Inside Mortgage Finance.

Most of the growth was driven by Annaly Capital Management and AGNC Investment Corp.

REITs have become an important financing source in the housing market, especially as the Federal Reserve reduces its mortgage bonds portfolio. However, some analysts are concerned that this shift is giving more mortgages to leveraged companies without much oversight. During the last downturn, some of the riskier mortgage REITs went bust.

That said, banks are not as involved in the mortgage market now as they were prior to the financial crisis. But they do provide REITs making those same investments with short-term financing.

Annaly and some of the other REITs are buying several mortgages that Fannie Mae and Freddie Mac have traditionally focused on, and this segment of the market could continue to grow if the government tries to shrink Fannie and Freddie. Both companies recently tweaked their securities to make it easier for REITs to buy them.

“If the goal is to disburse more and more risk, you have to get more investors involved,” chief economist at the Mortgage Bankers Association Michael Fratantoni told the Journal. [WSJ] – Eddie Small

ASUS ZenBook Pro Duo: una laptop con doble pantalla multitareas

ASUS ZenBook Pro Duo: una laptop con doble pantalla multitareas

ASUS TeK Computer lanzó al mercado una laptop de doble pantalla. Se trata de ZenBook Pro Duo, una pantalla principal de 15.6″ y una segunda pantalla táctil de 14”, que la empresa bautizó como ScreenPad Plus. También dio a conocer una versión más pequeña, la ZenBook Duo, que tiene un display principal de 14″ y un ScreenPad Plus de 12,6″.

Por Redacción Miami Diario

Según el portal Infobae, la presentación se hizo un día antes de la apertura oficial de Computex, la feria de tecnología que se celebra todos los años en Taipei. Fue en el marco de un evento donde la empresa celebró sus 30 años con varios anuncios.

La información firmada por Desirée Jaimovich, explica que la pantalla principal es Oled de 15,6 pulgadas y ofrece resolución 4K UHD (3840 x 2160), con relación de contraste de 100.000:1. Pero lo más destacado es su ScreenPad Plus, el display de 14 pulgadas, con resolución 4K que se encuentra sobre el teclado y que permite como una segunda pantalla para, por ejemplo, tener hasta tres aplicaciones abiertas allí.

La Asus Zenbook Pro Duo cuenta con un display principal de 15,6” y otra pantala llamada ScreenPad Plus de 14”.

A su vez, el software de control ScreenXpert facilita la administración de múltiples ventanas. El grupo de tareas, por ejemplo, permite abrir varias apps con un solo toque. En este sentido, se puede utilizar esta segunda pantalla para ver el calendario y manejar la calculadora, mientras se escribe un documento, por ejemplo.

“Mejoramos el ScreenPad y al mismo tiempo pensamos en optimizar la experiencia del usuario. Al poner una pantalla más grande queríamos ver dónde ubicarla. Nos pareció que era más conveniente ubicar la segunda pantalla arriba del teclado”, explicó Johnny Cheng, gerente de producto de ZenBook, en el marco de una conferencia.

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La entrada ASUS ZenBook Pro Duo: una laptop con doble pantalla multitareas se publicó primero en Miami Diario.

Will new Opportunity Zones rules propel an office boom?

Will new Opportunity Zones rules propel an office boom?

Office building blueprints (Credit: iStock)

Office building blueprints (Credit: iStock)

When Michael Tillman’s PTM Partners bought property in Overtown in February to build an 18-story apartment complex, it became one of the first Miami-based real estate firms to utilize the Opportunity Zone program.

The federal program is seen by many as the biggest economic boost to the real-estate industry since the 1031 Exchange. But given the murkiness of the Opportunity Zone guidelines, developers have been slow to get shovels in the ground.

Office developers were especially wary, given a rule that stipulated that at least 50 percent of a business’ income must come from within the Opportunity Zone in order to qualify for the tax breaks. That meant that these developers would have a harder time using the prospect of tax breaks to lure new tenants.

New proposals released by the Treasury and the IRS in April, however, make it easier for businesses to qualify for the Opportunity Zone tax benefits. And that, in turn, could stimulate new-office constructions as developers gear up to cater to the increased demand.

“This is going to make it easier for businesses to qualify and it’s going to be easier to lease (office) space,” said James Jago of Pebb Capital, who is working on projects in Opportunity Zones in New York and Florida.

What changed?

The April rules clarified a number of developers’ most pressing concerns about how a property could be refinanced, and how much time real estate funds had to buy and reinvest in Opportunity Zone properties.

But the biggest change could be a provision around how Opportunity Zones businesses can qualify for the tax benefits. According to the initial regulations, businesses could only qualify if they received at least 50 percent of their gross income from a trade or business coming from within the Zone.

This made sense for a real estate development, such as a multifamily project, where all of the income is coming from the project in the zone. It made less sense, however, for businesses like software companies or manufacturers, who may have operations spread throughout the country and may derive just a sliver of income from the actual zone.

Under the new proposed rules, a business can also qualify for the tax breaks if 50 percent of wages or hours worked come from within the zone.

“For the incubators, the start-ups (businesses), there is now going to be a lot of action,” Jago said.

The Opportunity Zones program was part of President Trump’s tax overhaul and was meant to provide investment in distressed areas that traditionally had little private investment. Real estate developers quickly became enamored with the program and large real estate investment funds such as EJF Capital and RXR Realty were seeking to raise substantial Opportunity Zone funds, hundreds of millions of dollars of capital and in some cases billions.

Developers or investors investing in an Opportunity Zone could defer and potentially forgo paying capital-gains taxes.

John Gahan, a partner at the law firm Sullivan & Worcester, said the new rules could also increase the types of businesses and projects investors can invest in.

“Uncertainty regarding how capital got deployed and re-deployed led many to structure their funds as one asset ( one location) per fund,” Gahan said. “Following this round of guidance, there will be more funds holding multiple assets.”

One of the largest projects in an Opportunity Zone, LeFrak and Turnberry Associates SoLe Mia in North Miami, is currently trying to figure out how best to use the program.

The development group could see $100 million in added revenues from using Opportunity Zones, Bloomberg reported, with their $4 billion megaproject slated to have more than 500,000 square feet of office and retail space.

Richard LeFrak previously told the publication last year that he thought that office could be the best use of the program.

Other office properties around the country are also seeing more redevelopment potential. In North Carolina, Grubb Properties bought a 120,000-square-foot building right across from the University of North Carolina-Chapel Hill, where the developer is hoping to redevelop the property and add more co-working space, according to the News & Observer.

Quinn Palomino, co-founder and CEO of Virtua Partners, a private equity firm, has four Opportunity Zone funds and is focusing on single-family rentals and hospitality projects, including a 130-room Springhill Suites by Marriott in Avondale, a suburb of Phoenix.

Palomino said she is looking to build single-family rentals in Opportunity Zones because there is a ton of demand for entry level housing around the country. She said developers are looking for projects that they can stabilize quickly and provide the highest rates of returns for investors.

“The main rules are still in place, you need to get that project completed in 30 months, it needs to be profitable,” said Palomino. “Opportunity Zones is an incentive that doesn’t change the basic rules of investing.”

Will new Opportunity Zones rules propel an office boom?

Office building blueprints (Credit: iStock)

Office building blueprints (Credit: iStock)

When Michael Tillman’s PTM Partners bought property in Overtown in February to build an 18-story apartment complex, it became one of the first Miami-based real estate firms to utilize the Opportunity Zone program.

The federal program is seen by many as the biggest economic boost to the real-estate industry since the 1031 Exchange. But given the murkiness of the Opportunity Zone guidelines, developers have been slow to get shovels in the ground.

Office developers were especially wary, given a rule that stipulated that at least 50 percent of a business’ income must come from within the Opportunity Zone in order to qualify for the tax breaks. That meant that these developers would have a harder time using the prospect of tax breaks to lure new tenants.

New proposals released by the Treasury and the IRS in April, however, make it easier for businesses to qualify for the Opportunity Zone tax benefits. And that, in turn, could stimulate new-office constructions as developers gear up to cater to the increased demand.

“This is going to make it easier for businesses to qualify and it’s going to be easier to lease (office) space,” said James Jago of Pebb Capital, who is working on projects in Opportunity Zones in New York and Florida.

What changed?

The April rules clarified a number of developers’ most pressing concerns about how a property could be refinanced, and how much time real estate funds had to buy and reinvest in Opportunity Zone properties.

But the biggest change could be a provision around how Opportunity Zones businesses can qualify for the tax benefits. According to the initial regulations, businesses could only qualify if they received at least 50 percent of their gross income from a trade or business coming from within the Zone.

This made sense for a real estate development, such as a multifamily project, where all of the income is coming from the project in the zone. It made less sense, however, for businesses like software companies or manufacturers, who may have operations spread throughout the country and may derive just a sliver of income from the actual zone.

Under the new proposed rules, a business can also qualify for the tax breaks if 50 percent of wages or hours worked come from within the zone.

“For the incubators, the start-ups (businesses), there is now going to be a lot of action,” Jago said.

The Opportunity Zones program was part of President Trump’s tax overhaul and was meant to provide investment in distressed areas that traditionally had little private investment. Real estate developers quickly became enamored with the program and large real estate investment funds such as EJF Capital and RXR Realty were seeking to raise substantial Opportunity Zone funds, hundreds of millions of dollars of capital and in some cases billions.

Developers or investors investing in an Opportunity Zone could defer and potentially forgo paying capital-gains taxes.

John Gahan, a partner at the law firm Sullivan & Worcester, said the new rules could also increase the types of businesses and projects investors can invest in.

“Uncertainty regarding how capital got deployed and re-deployed led many to structure their funds as one asset ( one location) per fund,” Gahan said. “Following this round of guidance, there will be more funds holding multiple assets.”

One of the largest projects in an Opportunity Zone, LeFrak and Turnberry Associates SoLe Mia in North Miami, is currently trying to figure out how best to use the program.

The development group could see $100 million in added revenues from using Opportunity Zones, Bloomberg reported, with their $4 billion megaproject slated to have more than 500,000 square feet of office and retail space.

Richard LeFrak previously told the publication last year that he thought that office could be the best use of the program.

Other office properties around the country are also seeing more redevelopment potential. In North Carolina, Grubb Properties bought a 120,000-square-foot building right across from the University of North Carolina-Chapel Hill, where the developer is hoping to redevelop the property and add more co-working space, according to the News & Observer.

Quinn Palomino, co-founder and CEO of Virtua Partners, a private equity firm, has four Opportunity Zone funds and is focusing on single-family rentals and hospitality projects, including a 130-room Springhill Suites by Marriott in Avondale, a suburb of Phoenix.

Palomino said she is looking to build single-family rentals in Opportunity Zones because there is a ton of demand for entry level housing around the country. She said developers are looking for projects that they can stabilize quickly and provide the highest rates of returns for investors.

“The main rules are still in place, you need to get that project completed in 30 months, it needs to be profitable,” said Palomino. “Opportunity Zones is an incentive that doesn’t change the basic rules of investing.”

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Alejandra Maglietti vuelve a subir la temperatura en Miami

Alejandra Maglietti vuelve a subir la temperatura en Miami

La espectacular Alejandra Maglietti  volvió a subir la temperatura a sus fanáticos de Instagram, cuando la sensual  rubia  colocó una foto en dónde luce un traje de baño de color rojo de una pieza, cruzado en la espalda y semi hilo.

Por Redacción MiamiDiario

Ahora Alejandra, quien es abogado y periodista, se encuentra en la ciudad de Miami aprovechando el clima del lugar y mostrando su fenomenal cuerpo.

View this post on Instagram

#welcometomiami ☀️ #ph @lucia_ugarte ❤️

A post shared by Alejandra Maglietti (@alemaglietti) on

Cómo la escultural rubia despierta las pasiones de sus más de un millón de seguidores en la red social Instagram,  el portal caras.perfil.com decidió mostrar otra imagen de Alejandra, tomada hace dos años cuando con una mirada penetrante se deja ver con otro traje de baño rojo de una pieza, que evocaba a la serie televisiva de los años 90, Baywatch.

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La argentina de 33 años, quien se separó del futbolista Jonás Gutiérrez a principios de abril, decidió relajarse en nuestra ciudad por unos días, así tal vez en una escapa a la playa pueda encontrársela.

Fuente de la imagen: tucumanalas7.com.ar

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La entrada Alejandra Maglietti vuelve a subir la temperatura en Miami se publicó primero en Miami Diario.