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Category: Business

Saddled with debt woes, Raoul Thomas’ hotel investments are unraveling. But he’s not giving up.
Business

Saddled with debt woes, Raoul Thomas’ hotel investments are unraveling. But he’s not giving up.

September 3, 2024September 3, 2024

As Raoul Thomas clung to hope that he would recapitalize his $285 million loan on the Waldorf Astoria Washington DC in time to avoid losing

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The builders: Ranking Miami’s construction firms
Business

The builders: Ranking Miami’s construction firms

September 3, 2024September 3, 2024

At a busy intersection in North Miami, construction of the 382-unit Manor Biscayne apartment project is underway. So far, the eight-story building is a gray

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The last piece of paradise: Palm Beach battles for its only major dev site left
Business

The last piece of paradise: Palm Beach battles for its only major dev site left

September 3, 2024September 3, 2024

The room burst into applause.  That’s not typical for development review meetings. But Maggie Zeidman, then-president of Palm Beach’s Town Council, had just suggested a

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Meet Miami-Dade’s go-to lobbyists for real estate developers
Business

Meet Miami-Dade’s go-to lobbyists for real estate developers

September 3, 2024September 3, 2024

They add skyscrapers to Miami’s skyline and bring new single-family home communities into existence in southwest Miami-Dade. But they’re not the developers. No, they’re the

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Citrix sells its Fort Lauderdale HQ for M, leases back office space   
Business

Citrix sells its Fort Lauderdale HQ for $37M, leases back office space   

August 30, 2024August 30, 2024

Cloud computing and software company Citrix sold its headquarters in Fort Lauderdale for $37 million, leasing back its office space.  Citrix sold the nine-story building

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Masoud Shojaee gets grilled in court depo about Shoma bank accounts
Business

Masoud Shojaee gets grilled in court depo about Shoma bank accounts

August 30, 2024August 30, 2024

In an intense court deposition this month, Masoud Shojaee was grilled about multiple bank transfers involving affiliates of his Coral Gables-based firm, Shoma Group. The

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Lease roundup: FIFA opens permanent office in Coral Gables ahead of 2026 World Cup
Business

Lease roundup: FIFA opens permanent office in Coral Gables ahead of 2026 World Cup

August 30, 2024August 30, 2024

FIFA | Coral Gables  FIFA expanded its South Florida office ahead of the 2026 World Cup, with plans to keep the space permanently as a

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Joe Farrell launches sales for 27 luxury single-family homes in Wellington
Business

Joe Farrell launches sales for 27 luxury single-family homes in Wellington

August 30, 2024August 30, 2024

Spec developer Joe Farrell is launching sales for 27 luxury single-family homes in Wellington’s Palm Beach Polo & Country Club. Prices for the planned Wellington

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Affiliated scores M construction loan for West Palm multifamily project
Business

Affiliated scores $50M construction loan for West Palm multifamily project

August 30, 2024August 30, 2024

Affiliated Development started construction of a planned West Palm Beach apartment building after nabbing a $50 million loan. Bank of Montreal provided the financing for

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Pembroke Pines condo complex deemed structurally unsafe to hit the market 
Business

Pembroke Pines condo complex deemed structurally unsafe to hit the market 

August 29, 2024August 29, 2024

A Pembroke Pines condo complex that was evacuated following monthslong structural safety concerns and allegations of prior board members’ mismanagement will hit the market.  Heron

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