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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 […]

Invesca lands $50M refi on Pompano Beach apartments

Invesca lands $50M refi on Pompano Beach apartments

Invesca Development Group landed a $50 million loan to refinance Envy Pompano Beach, a 214-unit, 11-story rental building. Madison Realty Capital, led by Josh Zegen, originated the loan for the building at 475 Southeast First Street within the Koi master-planned community, according to a press release. In April, New York-based Madison Realty provided Plantation-based Invesca […]

Fortune International Group buys waterfront Pompano Beach site for $28M

Fortune International Group buys waterfront Pompano Beach site for $28M

Fortune International Group is the latest developer to bet on the Pompano Beach market. The Miami-based development firm, led by Edgardo Defortuna, paid $27.5 million for the 4.6-acre site at 1380 South Ocean Boulevard, the company announced Wednesday. Fortune is planning to build two high-end condo towers on the oceanfront and Intracoastal-front site, but plans to […]

30-year mortgage rate hits record low

30-year mortgage rate hits record low

Average rate of America’s most popular home loan drops to 2.98% The average rate on a 30-year mortgage, America’s most popular home loan, has fallen below 3 percent. The 2.98 percent is the lowest Freddie Mac has seen in nearly 50 years of tracking. It’s the third consecutive week of decline and the seventh record-low […]

100 Las Olas Sky-High Luxury Condominiums To Open In 2020

100 Las Olas Sky-High Luxury Condominiums To Open In 2020

Four hundred and ninety-nine feet; 113 residences; 46 levels. These are just a few of 100 Las Olas’ impressive stats. The upscale residence is the first new construction project featuring a hotel component on Las Olas in more than 10 years. Since it broke ground in March 2017, development group Kolter Urban has brought the […]

Tips to prepare your budget before buying a new home

Tips to prepare your budget before buying a new home

It’s virtually impossible to know what size home you can afford if you aren’t fully aware of how much money you are earning and how much you are spending each month. Start with your income: How much do you bring home after taxes and retirement plan contributions? Next, look at your expenses: What are your […]

Home prices are rising more slowly amid the affordability crunch

Home prices are rising more slowly amid the affordability crunch

A new wave of inventory is putting a damper on rising U.S. home prices. Price gains slowed in the fourth quarter amid a market that has created affordability challenges, Bloomberg reported. The median price for an existing single-family home was $257,600, a 4 percent increase from a year earlier, according to the National Association of […]


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