Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to email@example.com
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Scaramucci slashes his sights on his Opportunity Zone fund. Anthony Scaramucci’s SkyBridge Capital initially sought to raise $3 billion in Opportunity Zone funds to invest nationwide through a REIT, but so far said he has only raised about $30 million. And he has reduced his target to $300 million. [TRD]
Financing in hand, Florida’s first LGBTQ+ senior housing development breaks ground. Carrfour Supportive Housing and The Pride Center have secured all of their funding for what is expected to become the first LGBTQ+ senior housing development in Florida. [TRD]
Mark Zilbert launches new team at Brown Harris Stevens. Mark Zilbert is launching a new team at Brown Harris Stevens Miami, centered on using technology to sell luxury properties. Headed by Zilbert, the Zilbert Team’s members include Lisa Van Wagenen, Juan Alvarez, David Vazquez and Lorna Acuna. [TRD]
Gimme squatter: When iBuying homes draw unwanted attention. A prospective buyer who toured an Opendoor house in Arizona last month was surprised to find a couple with two children inside, apparently living there. [TRD]
South Florida home sales jump in September. September was a strong month for residential sales in South Florida, with one exception: condo sales in Palm Beach County, according to the Miami Association of Realtors. [TRD]
Galium Capital pays $21M for Pembroke Pines shopping center. Galium Capital purchased a shopping center in Pembroke Pines for $20.5 million, as retail properties in Broward County continue to be in demand despite challenges in the sector nationwide. [TRD]
A new Comfort Inn & Suites hotel near Miami International Airport opens. An eight-story, 120-room hotel in Miami Springs at 665 Mokena Drive opened Oct. 15 following nearly a year-and-a-half of construction.
Lightstone leads $8M funding round for appraisal startup Bowery Valuation. Bowery Valuation, a tech-enabled appraisal startup, has raised $8 million in a funding round led by real estate firm Lightstone Group. [TRD] https://therealdeal.com/national/2019/10/24/lightstone-leads-8m-funding-round-for-appraisal-startup-bowery-valuation/
Equity Residential decries rent control’s “chilling effect” on development. Equity Residential, which owns 9,600 apartments in New York, said it experienced a 50 basis point drop in renewal increases on rentals in the second half of the year in the state — plus a $400,000 loss in application and late fees. [TRD]
Blackstone reports boost in Q3 net income; eyes more industrial buys. Blackstone’s $779 million in net income from July through September was up more than 75 percent from the $442 million it reported over the same period in 2018, the company announced Wednesday. [TRD]
Yoyosa USA is opening a Miami flagship store at 1111 Lincoln Road. Colliers International South Florida’s Steven Henenfeld and Jonathan Carter brokered the 6,000-square-foot lease with the Chinese lifestyle brand. Yoyosa has 1,200 locations worldwide.
Miami Gardens residents seek to stop Formula One from coming to Hard Rock Stadium. The city council of Miami Gardens unanimously passed a resolution proposed by Councilwoman Lillie Q. Odom to oppose a plan to bring a Formula One racing event to the stadium. [Miami Herald]
Multifamily project on Pompano Beach scrapyard site moves forward. Pompano Beach commissioners on Tuesday night rezoned from “heavy business” (B-4) to “general business” (B-3) most of the multi-parcel site for Aviara East Pompano on the southwest corner of South Dixie Highway and McNab Road. [TRD]
Compiled by Keith Larsen