Steward Health Care System LLC has filed for Chapter 11 bankruptcy protection and will sell off its Florida hospitals. Steward runs eight hospitals in Florida, including Melbourne and Rockledge Regional Hospital, as well as in Sebastian, Coral Gables, Lauderdale Lakes, Miami and two in Hialeah. In total, Steward currently has 31 hospitals across eight states, […]

Southern Realty Trust originated a mezzanine loan in the aggregate amount of $56.4 million for Aster & Links, a multi-family community development with ground-floor retail located on Main Street and Links Avenue in Sarasota, Florida. Spanning over 650,000 square feet, the Project is located in downtown Sarasota. The borrower, Belpointe OZ was advised by Lantern […]

Codina Partners is kicking off a final phase of its original development, but it’s also laying the groundwork for Downtown Doral 2.0. Covering 250 acres, Downtown Doral has more than 10,000 residential units, over 40 restaurants and retails, two charter schools, a government center and health care center by the University of Miami. Codina started the project […]

Hilton Grand Vacations (HGV) offerings just increased by 40%. The company agreed to merge with Bluegreen Vacations Holding Corp. The acquisition has increased Hilton’s membership base from 525,000 to 740,000 vacation owners. Bluegreen has added 49 club resorts and 24 associate resorts to HGV’s flexible vacation business, which already owns and operates nearly 200 properties […]

Benderson Development paid $40 million for Monarch Ranch, a vacant 3,400-acre industrial development site in Sumter County. Benderson bought the property jointly with The Villages, a census-designated place (CDP) in Sumter and Marion Counties. The sale was court-ordered due to the seller’s legal and financial problems. The property is one of the largest vacant land […]

Benderson Development acquired Glengary Shoppes, a 95,489-square-foot shopping center on South Tamiami Trail in Sarasota. The property is 97% leased and tenants include Best Buy and Barnes & Noble. The sales price was $30.5 million. The seller was Jacksonville-based Regency Centers, a retail center specialist. The Tampa Bay Business Journal reports the acquisition adds to […]

PCCP and Midwest Industrial Funds have broken ground on a 337,000-square-foot speculative facility within Westlake Industrial Park in Jacksonville, Fla. Completion is scheduled for December. Commercial Search reports the developer acquired the land at the end of last year for $3.5 million and took out a $19.3 million construction loan from CIBC Bank. The note is set to […]

A joint venture between LYND and Dania Beach Marina Corp. has received a $12 million loan for the construction of The Aileron, a 380-unit multifamily across from Spirit Airlines’ headquarters in Dania Beach, Fla., in metro Miami. Work on the project is expected to begin in the third quarter of 2024. Kast Construction is the general contractor, while Nichols Brosch Wurst […]

The property across from the Oaks Mall in Gainesville was initially zoned commercial, with designs to attract more retail. However, Evergreen-Residential talked the town into populating the site with apartment dwellers, guaranteeing business for the mall. Evergreen-Residential broke ground last month on Evergreen Westside, a 240-unit property across the street from Oaks Mall. Now, residents […]

The post Florida/Gulf Coast People and Company News for Sept. 15, 2023 appeared first on Connect CRE.