🏆 Residential: The most expensive home sale recorded in the tri-county area was in Boca Raton, where a 7,000-square-foot, waterfront home at 7400 Northeast Orchid Bay Terrace changed hands for $10.8 million or roughly $1,500 per square foot. The seller was Shawn Meaike, an entrepreneur, who purchased the property in 2020 for $5 million. It went on the market for $14.7 million in October. The buyers of the home, which has five bedrooms, a pool and wraparound balcony, were Agostino Vona, president of Vona Capital Group, and Barbara Vona. Compass’ Meghan Romanelli represented Meaike, while Coldwell Banker Realty’s Jonathan Postma brought the buyers.
🏆 Commercial: Coral Gables had the top commercial real estate deal recorded in South Florida. DWS Group offloaded its two-building office complex, The Alhambra at 2 Alhambra Plaza, which measures 232,100 square feet, and 95 Merrick Way, which spans 94,300 square feet, for $119.6 million. The buildings went on the market last year, with a target price of $125 million. The buyer is an LLC linked to Dallas-based Dallas-based Lone Star Funds, Jay Caplin’s Miami-based Square2 Capital and David Moret’s Highline Real Estate Capital. DWS Group, headquartered in Germany, acquired the asset in 2015 for $118.5 million.
📊 Commercial: In Miami, an apartment complex known as the Douglas Enclave at 61 Northwest 37th Avenue in Little Havana traded for $68 million. The seller was developer the Astor Companies, which built the 325,000-square-foot, 11-story property. The building has 199 apartments and ground-floor retail. The buyer was an affiliate of the Tandel Group.
📊 Residential: An LLC managed by developer Samuel Fisch sold a home at 6707 Pamela Lane in West Palm Beach for $9.7 million. The buyer was a trust with Eric Ray as trustee. The 6,300-square-foot residence has seven bedrooms, six and a half bathrooms, a pool and a summer kitchen. It was built last year. The transaction pencils out to more than $1,500 per square foot. The home’s asking price, from September, was just under $10 million. Fisch then bumped it to $10.9 million in October.
By the Numbers: U.S. CRE debt hits $4.8T, with banks leading the way
Through the second quarter of 2025, outstanding commercial real estate debt in the U.S. hit $4.8 trillion, led by banks and thrifts and followed by government-sponsored enterprises.
Banks and thrifts, such as credit unions, held nearly 38 percent of the country’s commercial real estate debt, with a total of $1.83 trillion, according to an analysis of Federal Reserve data by research firm Trepp. GSEs, like Fannie Mae and Freddie Mac, followed, with some 22 percent of the market, totaling $1.08 trillion.
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