While many all-cash investors are waiting to see how the pandemic progresses, opportunities are opening up for commercial buyers who depend on financing. For franchisees whose brands serve middle-class clients, that’s good news. South Florida commercial real estate agents and lawyers have seen a flurry of deals from fast-food restaurants, spa brands and automotive chains. The pace of acquisitions is noticeably higher now than in June 2019. More from the Miami Herald.
The Motwani family business’s rise from motels to luxury hotels and condos
Before buying their first, small motel on Fort Lauderdale Beach in 1986, Bob and Ramola Motwani quizzed local real estate pros and motel owners. They were told the annual spring break boom made for a can’t-miss market. The Motwani family’s first venture in Florida landed them in a fix — but ultimately on a trajectory they’ve ridden from mom-and-pop motels to luxury hotel and condo towers. [Source: Florida Trend]
Pandemic threatens to upend a thriving real estate model
Mixed-use projects have been a hallmark of the country’s urban renaissance over the past couple of decades. In some cases, these projects have transformed whole areas: The 56-acre Water Street Tampa, for example, will connect the city’s downtown with its waterfront. In general, they have helped define the live-work-play ethos that many younger professionals seek in cities. But the coronavirus threatens to upend the allure of retail and restaurants in these developments. [Source: South Florida Sun-Sentinel]
Inside the innovative first development from Belmont Village, Baptist Health
The Houston-based senior living company and the Florida-based non-profit health care system are collaborating on Belmont Village Coral Gables, a mixed-use senior living community set to open in downtown Coral Gables, Florida. As planned, the 10-story community will have 232 private apartmentsfor independent living, assisted living and memory care residents, and more than 18,300 square feet of ground-floor retail and commercial space. [Source: Senior Housing News]
Miami international home sales totaled $6.9 billion in 2019
According to the latest Profile of International Home Buyers of the Miami Association of Realtors, a strong U.S. dollar and a worsening global economic outlook outside of the U.S. slowed South Florida international home sales in 2019, but domestic buyers stepped in as total Miami residential sales and prices increased year-over-year. Despite the decline, foreign buying activity remained strong, particularly when compared to the rest of Florida and the rest of the country.
source:Florida Trend
