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Year In Review: Biggest Real Estate Sales in South Florida

Dec. 30, 2015

There were a dizzying amount of commercial real estate transactions in South Florida in 2015 as investors sought out the stability of bricks and mortar. Prices approached or surpassed the height of the real estate boom of the mid 2000s in many sectors. Cap rates in South Florida were low compared to other regions, which drove prices higher.

There were 16 transactions here of over $100 million each, ending with the biggest deal of the year. Of these deals, five were retail, five were office, four were apartments, and two were hotels. Miami-Dade County led the way with 11 deals of $100 million-plus, including four on Brickell and three in Miami Beach.

Palm Beach County landed three deals above $100 million, all in West Palm Beach. Broward County had two mega deals. This list only covers compensated recorded on deeds in county records, and not transactions that didn’t require recording fees.

Biggest Real Estate Sales in South Florida:

  1. 1. $103.5 million: The Signature at Doral Apartment complex was sold by CC Residential to AMLI Residential.
  2. 2. $104.5 million: The Modera Dadeland apartment complex was sold by Milk Creek Residential to AMLI Residential.
  3. 3. $110.2 million: The Shops at Sunset Place was sold by Simon Property Group to Federal Realty Investment Trust, Grass Rives Partners and The Comras Co.
  4. 4. $111.6 million: The 800 Brickell/State Trust office building was sold by Guggenheim Real Estate and Stiles Corp. to RREEF Property Trust.
  5. 5. $113.5 million: The Mary Brickell Village retail center was sold by Ivanhoe Cambridge to Rockpoint Group.
  6. 6. $116.7 million: The Marketplace at the Pullets retail plaza was sold by New England Development to Clarion Partners.
  7. 7. $118.5 million: The Alhambra office building was sold by USAA Real State to Deutsche Asset & Wealth Management.
  8. 8. $120 million: The Modera Town Center Apartment were sold by Mill Creek Residential to MTC Property Group.
  9. 9. $125 million: The SLS Hotel was sold by CIM Group to international investors.
  10. 10. $140 million: The SunTrust Bank Building was sold by Brickell Office Plaza to Alliance RE Holdings.
  11. 11. $142 million: The Espirito Santo Plaza office building was sold by Rio Forte Investments to Gaedeke Group.
  12. 12. $148.9 million: The Manor at Flagler Village apartments was sold by Related Group to TIAA-CREF.
  13. 13. $230 million: The Miami Beach Edition hotel was sold by Marriott International to Abu Dhabi Investment Authority.
  14. 14. $245.5 million: The Phillip office building was sold by Prudential Real Estate Investor, Colonnade Properties to AEW Capital Management.
  15. 15. $278.4 million: The Palm Beach Outlets was sold by New England Development, Eastern Real Estate and Lubert-Adler to Clarion Partners and New England Development.
  16. 16. $370 million: A block of retail buildings from 1001 to 1035 Lincoln Road, Miami Beach was sold by Michael Comras and Jonathan Fryd to Amanicio Ortega Gaona

By Brian Bandell

Read more at bizjournals.com/southflorida.