Morning Calm Forms $500M JV To Finance Office Properties
An estimated $566 billion of debt maturities are coming due across the sector over the next five years.
An estimated $566 billion of debt maturities are coming due across the sector over the next five years.
Berkadia Managing Directors Scott Wadler, Brad Williamson, and Matt Robbins, Senior Managing Director Mitch Sinberg, and Vice President Michael Basinski of Berkadia South Florida arranged the loan on behalf of the Miami-based sponsors.
VSRE has also been contracted to develop apartment buildings, retail, and offices.
Next, Latitude Group will pursue the construction permit at the 59,000-square-foot site at 12-24 Crandon Blvd.
The British Consulate will occupy the entire penthouse floor.
Benjamin H. Silver and Charlie Manuel with CBRE represented the seller and procured the buyer.
Alexander Bernaldo, SIOR, President of Americas Commercial Real Estate, and Rene Vivo, SIOR, CEO of Vivo Real Estate Group, negotiated the transaction.
With over 16 years of experience in the real estate industry and a track-record as a top producer, he has negotiated more than seven million square feet of leased office space for clients that span over 1,000 transactions, which involved strategic real estate planning, workplace strategy, financial consulting and transaction management.
The development property consists of office, multifamily and retail elements.
A study predicts 45% to 50% increases in Florida, including in inland areas — and a doubling of premiums won’t be out of the question.
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