A “bad deal” and a “joke”: Miami board approves Jungle Island rezoning, despite concerns
A city of Miami board voted to approve a rezoning of a portion of the Jungle Island property, which Terra and ESJ Capital Partners’ Ecoresiliency Miami plan to redevelop. Miami’s Planning, Zoning and Appeals Board voted to amend the existing Jungle Island special area plan and rezone about 5.4 acre
Shvo loses Raleigh Miami Beach in $270M sale to Nahla Capital
Developer Michael Shvo is no longer involved in the Raleigh Miami Beach, the trophy asset he planned to redevelop into a luxury condo and hotel project. New York-based Nahla Capital paid about $270 million for the three-acre property at 1775, 1757 and 1751 Collins Avenue, sources confirmed to The R
St. Regis Bal Harbour $188M CMBS loan heads to special servicing
Facing a maturity date next month, a $188 million commercial mortgage-backed securities loan tied to the St. Regis Bal Harbour Resort is being transferred to special servicing, according to Morningstar. The move comes despite the hotel’s owner, Qatari firm Al Rayyan Tourism Investment Company (ARTI
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