🏆 Residential: The top sale to hit records in South Florida was for a single-family home at 104 Paloma Drive in Coral Gables. The nearly 6,600-square-foot house sold for $9 million, or roughly $1,400 per square foot. The sellers were Davide and Irina Basile, and the buyer was an entity tied to Matias Pesce, who leads V&E Hospitality Group, and Ana La Placa. The home, built in 1997, has seven bedrooms and six and a half baths. It sits on the canal and has a pool. Its last asking price was $9.7 million. Ashley Cusack with BHHS EWM Realty had the listing, and Lissette Garcia with One Sotheby’s International Realty represented the buyers.
🏆 Commercial: The priciest commercial transaction recorded in the tri-county region was in Coconut Grove. The sale of an office property at 3480 Main Highway for $61 million hit records. The seller was a joint venture between Torose Equities and Sabal Investment Holdings. The buyer was Miami-based Azora Private Solutions. The seller, represented by JLL, took over the building last year via a UCC foreclosure auction. The building stands five stories tall and spans about 55,000 square feet, pricing the deal at $1,100 per square foot — a record for the office submarket.
📊 Commercial: An affiliate of Marlin Spring US Realty offloaded seven-building apartment complex in the Princeton area of Miami-Dade County for $39.5 million — about 40 percent off its prior trade price about five years ago. The buyer was an LLC tied to Denver-based Grand Peak Properties and AEW Capital Management. The complex, known as Princeton Grove, spans nearly 219,000 square feet and has 216 units. Built in 2016, it last traded in 2021 for $51 million. Its addresses are 25001, 24801, 24901, 24951, 25051, 25101 and 25151 Southwest 130th Avenue.
📊 Commercial: A 19,500-square-foot medical office building at 4560 Lantana Road in unincorporated Palm Beach County sold for $8.5 million. The seller was an LLC tied to Sphere Investments, based in Miami, and the buyer was an LLC tied to Chicago-based Walton Street Capital. The deal works out to about $440 per square foot. The building last sold in 2019 for $3.6 million.
By the Numbers: Data centers power REIT comeback after 2025 slump
Publicly traded real estate investment trusts staging a comeback.
After a bruising 2025 that left much of the sector lagging a stock market dominated by megacap AI darlings, listed real estate has started to claw back investor attention. The rebound is being powered, somewhat ironically, by the infrastructure that underpins the AI boom: data centers.
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