Bilzin Sumberg's office in Miami. What are some of your most satisfying successes of 2021, and why?
Our successes over the course of 2021 spanned a wide spectrum of asset types and developments, including: ground-breaking luxury developments like the new Bulgari Hotel on Miami Beach, for which we obtained Miami Beach Historic Preservation Board approval; Legacy Tower at Miami Worldcenter, for which we closed a massive $340 million financing; major transit-oriented developments, like the county-owned land adjacent to the MLK Metrorail station, for which the Miami-Dade County Commission awarded our client a 99-year ground lease and separately approved the award of a 97-year lease and development agreement to another client for a 45-acre public-private transit-oriented development at the Dolphin Park and Ride station off the 836, west of the Dolphin Mall; and closing hundreds of millions of dollars in affordable housing financings and refinancings. |Florida's real estate market is now among the hottest in the country. What are your thoughts on that?
Florida is no stranger to real estate booms and busts. What's changed is the widespread view among investors, industry players and government officials that this cycle is different and more sustainable. To start, the recent growth is both in the commercial and residential markets—with central business districts, industrial areas and condos rising in value and demand along with residential homes.Real Estate Transactions: 'We Go Beyond the Transactions,' Says Bilzin Sumberg
"Firms must adopt an institutional mentality towards pro bono work and engagement with the community. This entails firm leadership establishing formal programs to serve the community, aggressively working to instill communal engagement as part of firm culture, and encouraging members of the firm at all levels to get involved," the firm said.
June 03, 2022 at 07:00 AM
4 minute read
Commercial Real Estate
Bilzin Sumberg's office in Miami.
What are some of your most satisfying successes of 2021, and why?
Our successes over the course of 2021 spanned a wide spectrum of asset types and developments, including: ground-breaking luxury developments like the new Bulgari Hotel on Miami Beach, for which we obtained Miami Beach Historic Preservation Board approval; Legacy Tower at Miami Worldcenter, for which we closed a massive $340 million financing; major transit-oriented developments, like the county-owned land adjacent to the MLK Metrorail station, for which the Miami-Dade County Commission awarded our client a 99-year ground lease and separately approved the award of a 97-year lease and development agreement to another client for a 45-acre public-private transit-oriented development at the Dolphin Park and Ride station off the 836, west of the Dolphin Mall; and closing hundreds of millions of dollars in affordable housing financings and refinancings.
|Florida's real estate market is now among the hottest in the country. What are your thoughts on that?
Florida is no stranger to real estate booms and busts. What's changed is the widespread view among investors, industry players and government officials that this cycle is different and more sustainable. To start, the recent growth is both in the commercial and residential markets—with central business districts, industrial areas and condos rising in value and demand along with residential homes.
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