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Sterling Equities pays $95M for Pompano Beach apartments

Sterling Equities pays $95M for Pompano Beach apartments

An affiliate of Sterling Equities paid $95.3 million for a newly built Pompano Beach rental complex along the Intracoastal Waterway. The Great Neck, New York-based development firm bought the Broadstone Oceanside complex, with 204 apartments and seven townhouses, at 1333 South Ocean Boulevard, according to records. The project is across the street from the Atlantic […]

Logistics market is hot, but is a bubble forming?

Logistics market is hot, but is a bubble forming?

Investors can’t get enough of warehouses and logistics spaces these days, but there are some signs that a bubble could be forming. Asset management firms including Blackstone Group, Cerberus Capital Management and KKR have doubled down on logistics centers, and prices for warehouses have surged, Bloomberg News reported. According to real estate research firm Real Capital Analytics, values for industrial […]

Title fraud is on the rise. Here’s why it won’t stop anytime soon.

Title fraud is on the rise. Here’s why it won’t stop anytime soon.

South Florida is fertile ground for ‘title pirates’ — but with no procedures in place to verify deed ownership transfers, how can property theft be stopped? When family members of Lycienne Prince Barber were about to sell their dead relative’s two duplexes in Biscayne Park, they made a startling discovery. During the prerequisite title and […]

JPMorgan Chase Bank lends $36M for Pompano Beach industrial development

JPMorgan Chase Bank lends $36M for Pompano Beach industrial development

A Denver-based developer got a $36 million loan to finance construction of more than 800,000 square feet of industrial space in Pompano Beach. Industrial Property Trust got the loan from JPMorgan Chase Bank to finance construction of an 822,473-square-foot industrial park called Pompano Crossing. The development would include three industrial buildings, each with approximately 221,000 of space, […]

Miami Dolphins developing 80-acre sod farm to support their home field

Miami Dolphins developing 80-acre sod farm to support their home field

The Miami Dolphins apparently are taking a homegrown approach to resolving problems with the turf on their field at Hard Rock Stadium. The Palm Beach Post reported that the National Football League team quietly acquired land near West Palm Beach to grow sod for its home field at the stadium in Miami Gardens. In May, an […]

Rates Hit Highest Level in 7 Years

Rates Hit Highest Level in 7 Years

Mortgage rates reversed course and soared to the highest averages in seven years, Freddie Mac reports. The 30-year fixed-rate mortgage averaged 4.61 percent this week, which matches the highest level since May 19, 2011. “Healthy consumer spending and higher commodity prices spooked the bond markets and led to higher mortgage rates over the past week,” […]


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