Rendering of 830 Brickell, a new Class A-plus office tower under development by OKO Group and Cain International. Courtesy rendering. South Florida Benefitting From Major Deals and Transactions Led by Large Companies
"The venture capital firms are flooding this market. The hedge funds and private equity firms are flooding this market, and they're clustering near our building at 830 Brickell, and in Coconut Grove and Wynwood and the Design District. I think we're going to see more of these big names," said Ryan Holtzman of Cushman & Wakefield.
September 13, 2021 at 06:00 AM
8 minute read
Special Reports Real Estate
As the Delta variant of COVID-19 slows plans in other sections, leasing activity and new real estate deals are not slowing down in South Florida. Many multimillion dollar deals have taken place in the first few quarters of the year, and real estate professionals believe there's much more to come.
Deal overview
So far this year, 40 hotels with 50 keys or more have sold with a combined value of $649,971. That's up from only 17 last year, which had a combined total of $390,207, according to data from JLL Research and CoStar Group. Of the hotels with fewer than 50 keys, 12 sold for a combined nearly $44,000 this year, compared with 17 during the height of the pandemic, which had a combined total of $30,000.
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