• Real Estate Investing,  Travel & Lifestyle

    As co-working firms leave London, a new arriver plans to make a splash

    Newable Flexible Workspace’s Brett Million and Serendipity Labs CEO John Arenas A flexible office space firm is entering the London co-working market, at a time when others are shuttering operations there. Serendipity Labs, a company that provides on-demand office space in primary and secondary markets, said Friday that it has entered an agreement to license 25 locations in the U.K., including 12 in London. The New York-based firm, which uses franchise and management partnership agreements with its landlords, will partner with U.K.-based firm Newable Flexible Workspace, a subsidiary of consulting firm Newable Limited. “Through licensing arrangements, it’s a way for us to grow in an asset-light brand approach to this…

  • Real Estate Investing,  Travel & Lifestyle

    Wall Street is collecting rent payments

    Redwood Trust’s CEO Christopher J. Abate (Credit: iStock) Wall Street wants your rent. Redwood Trust, one of Wall Street’s largest securitizers of mortgage bonds, is now packaging bonds backed by rent payments. The move marks a broader interest by Wall Street in rental properties amid of rise of home purchased by institutional landlords, rather than families or individual owners. Doubling down on this bet, in October, Redwood paid $490 million to purchase CoreVest American Finance LLC, which is a lender to landlords. And the company recently sold a $376 million bond package backed by rent payments. With its acquisitions, Redwood could originate more than $3 billion of loans to landlords…

  • Real Estate Investing,  Travel & Lifestyle

    Moishe Mana sells Hibiscus Island home for $12M, CitizenM scores $48M loan to build Brickell hotel

    Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to tips@therealdeal.com This page was last updated at 5:45 p.m.   The founder of Cash4Gold bought a waterfront home in Miami Beach’s La Gorce Island for $19.6 million. The home sold at a 44 percent discount from its listing nearly four years ago. Jeff Aronson and his wife Carolyn bought the 10,094-square-foot estate at 100 La Gorce Drive for $1,941 per square foot. Rapa Holdings, which is managed by Andrew Feldman, sold the property. [TRD]…

  • Real Estate Investing,  Travel & Lifestyle

    Catsimatidis scores approval for $300M tower in St. Petersburg

    Rendering of the project and John Catsimatidis (Credit: Arquitectonica via Tampa Bay Times) Greek-American billionaire John Catsimatidis landed approval for what could become the tallest condo tower on the west coast of Florida. Catsimatidis’ Red Apple Group received site plan approval from the St. Petersburg’s Development Review Commission on Wednesday for a $300 million mixed-use project, the Tampa Bay Times reported. The project would include a 45-story condo building, 20-story hotel, roughly 20,000 square feet of office space, and an over 800-space parking garage. Miami-based Arquitectonica is the architect. Construction could begin in the spring, although Red Apple has to meet conditions set by the city. The project is over…

  • Real Estate Investing,  Travel & Lifestyle

    Blackstone sells Marriott in Weston, Sapir Corp.’s stock tumbles

    Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to tips@therealdeal.com This page was last updated at 6:00 p.m.   Blackstone sells Weston hotel for $12 million. Blackstone sold a 94-key Marriott hotel in Weston for $12.38 million, three years after purchasing the property. The New York-based private equity firm sold Towneplace Suites by Marriott at 1545 Three Villages Road for $131,702 per key, records show. Coral Gables-based Kenne RE, led by Gustavo Blanco, purchased the property. [TRD]   Sapir Corp.’s stock drops in…

  • Real Estate Investing,  Travel & Lifestyle

    Lawsuit seeks to halt new EB-5 regulations

    The lawsuit argues the increased amounts will deter foreign investors from the program (Credit: Getty Images, Wikipedia) Less than a month after the new EB-5 rules came out, a Florida regional center has filed a motion in federal court, seeking a temporary restraining order to halt enforcement. The company, Florida EB5 Investments, alleges the new requirements — which took effect Nov. 21 — violate the U.S. Constitution, were not properly reviewed for potential fallout and will end up killing business. The case could have far-reaching implications, with dozens of regional centers across the country similarly affected, and likely closely watching the case. Regional centers act as intermediaries between EB-5 development…

  • Real Estate Investing,  Travel & Lifestyle

    Construction startup Katerra closing Phoenix factory

    Katerra CEO Michael Marks and its factory in Phoenix (Credit: Katerra, Google Maps) Katerra, a Silicon Valley startup backed by SoftBank, has closed a large factory in Phoenix, weeks after one of its co-founders left the firm. The Menlo Park–based firm, which is valued at more than $4 billion, says it uses tech to deliver construction projects inexpensively. But it has a history of delaying or abandoning projects and in recent months has laid off hundreds of employees. The Phoenix factory, which was the company’s first, had been used to prefabricate building components for Katerra’s construction projects. In an email sent to staff Tuesday and obtained by The Real Deal,…

  • Real Estate Investing,  Travel & Lifestyle

    Gil Dezer, Related complete Residences by Armani/Casa, hedge funder, wife drop $105M for Palm Beach estate

    Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to tips@therealdeal.com This page was last updated at 6:00 p.m.   Diamonds aren’t forever: Seybold Building jeweler claims owner won’t relocate his store. A jeweler at the Seybold Building in downtown Miami claims the landlord is about to put the store out of business as a result of an ongoing renovation project. Nemaro Jewelers, which is four years into a 15-year lease, is suing Seybold owner Flagler Street Associates in Miami-Dade Circuit Court for allegedly…

  • Real Estate Investing,  Travel & Lifestyle

    Palm Beach estate hits market for $110M, Gulfstream Park bets on $20M renovation

    Every day, The Real Deal rounds up South Florida’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day. Please send any tips or deals to tips@therealdeal.com This page was last updated at 6:20 p.m.   An oceanfront Palm Beach estate re-enters the market for $110M.  The property at 1341 South Ocean Boulevard was previously on the market for two years and is the most expensive home advertised in Palm Beach, according to the Palm Beach Daily News. The house has 170 feet of oceanfront and seven bedrooms. [Palm Beach Daily News]    Trulia hit with lawsuit over Premier Agent.…

  • Real Estate Investing,  Travel & Lifestyle

    Miami River Commission approves yacht building and restaurant

    Rendering of planned marine facility and restaurant The Miami River Commission on Monday backed a proposal to build a six-story marine facility and an adjacent 90-seat restaurant on properties once owned by a Cuban exile accused of plotting to assassinate Fidel Castro. But Carlos Salas, president of the Spring Garden Civic Association, said he intends to appeal the decision for the proposed project at 301 and 311 Northwest South River Drive. The appeal would come before the Miami Planning Zoning and Appeals Board for a public hearing. Puntallana LLC, managed by Arturo Ortega, bought the two warehouse properties totaling 15,524 square feet from Enrique Bassas in October 2016. In September…