The Weekly Dirt: Developers bail on South Florida’s multifamily boom
The cycle for new multifamily construction is ending, and owners of multifamily development sites are looking for an out. It makes sense. Many developers are putting their sites up for sale following a period of rapid growth fueled by the pandemic boom. Then came the slowdown, brought by unsustain
Meta Development scores $28M loan to build Coconut Grove condos
Meta Development scored a $28M construction loan to build Opus, a planned 12-unit boutique condominium in Coconut Grove. Los Angeles-based Arixa Capital provided the financing to Miami-based Meta, a joint venture between Lucid Investment Group, also based in Miami, and Brazil’s Iron Capital, a press
Warren Buffett’s Berkshire Hathaway invests nearly $800M in homebuilding giant Lennar
Warren Buffett’s Berkshire Hathaway made a major investment in Miami-based homebuilding giant Lennar, purchasing over 7 million shares for nearly $800 million in the first half of this year. Berkshire Hathaway bought 5.3 million shares of Lennar for $575 million in the second quarter, Berkshire rev
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