This Week's South Florida Deal Sheet: Keyah Real Estate Plans Redevelopment Of Historic Miami Beach Hotel
Aventura-based Keyah Real Estate Group and Barcelona-based Grup Peralada released plans for a 262-key boutique hotel in Miami Beach redeveloping the historic Haddon Hall Hotel.
The hotel was built in 1940 at 1500 Collins Ave. The new project will redevelop that tract as well as its neighboring parcels at 1509 to 1515 Washington Ave. into a seven-story hotel project that is scheduled to finish in 2028, according to a release.
The development, designed by Rottet Studio, is set to include a ground-floor pool and restaurant area, a more than 6K SF ballroom, event and meeting space along Collins Avenue and a 10K SF spa and wellness concept.
The project received unanimous approval from the Miami Beach Historic Preservation Board in February, The Real Deal reported.
Grup Peralada purchased the 162-key, four-story Haddon Hall Hotel and four additional buildings in 2018 for $58.2M from an entity tracing to Rockwood Capital, according to records provided by Vizzda.
CONSTRUCTION AND DEVELOPMENT
Construction is underway for the office component of T3 Fat Village, a mixed-use development in Fort Lauderdale by Urban Street Development and Hines, according to a release.
The 5.5-acre project at 501 Andrews Ave. will feature 180K SF of office space in its East Building, along with 600 multifamily residential units spanning 400K SF.
Blanca Commercial Real Estate is handling leasing for the office space, which is expected to be delivered in November 2026, while the multifamily buildings are slated for completion in 2027.
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Altman Logistics Properties and PCCP began vertical construction of the first phase of their 20K SF logistics building in Delray Beach, according to a release.
Apex Logistics Park at Delray will be a 200K SF Class-A logistics building on U.S. 441. It is set to include 36-foot ceiling heights, 215 parking spaces and 45 dock doors and will accommodate tenants seeking between 40K and 200K SF.
Cushman & Wakefield’s Christopher Thomson and Matthew McAllister will lead leasing for the project, which is slated to finish construction in the second quarter.
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Miami Jewish Health and Greystone Communities are bringing a senior living community to FiftyTwoNorth in Miami, according to a release.
The development is set to feature 192 residences across an 11-story and two five-story buildings. It will hold wellness and fitness facilities, cultural and social experiences and gourmet dining that includes a sky lounge on the 11th floor.
Construction is expected to begin in 2027 and residents are slated to begin moving in 2028.
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McDowell Housing Partners completed construction on Southpointe Vista Phase 1 and closed financing on the second phase of the multifamily community in Miami-Dade County near Cutler Bay, according to a release.
The first phase completed 124 units split between 91 one-bedrooms, 25 two-bedrooms and eight three-bedroom units reserved for households that make between 30% and 70% of the area median income.
The 10-story building will include a community room, laundry facilities, cybercafé, fitness center and rooftop terrace. The project also includes a two-story parking garage connected by a skybridge, 196 parking spaces and 18 electric vehicle charging stations.
The second phase began construction at the end of January and will bring an additional 208 units in a 12-story building for residents earning at or below 70% of the county’s AMI. It is expected to complete in the third quarter of 2026.
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SoLé Mia, an 184-acre mixed-use development, has opened its first permanent padel club, Reserve at SoLé Mia, according to a release.
The club, branded by Wayne Boich's padel brand, is located at 2251 NE 146th St. The two-story facility features 10 professional courts — six outdoor and four indoor — two pickleball courts, a wellness center, gym, sauna, steam room and an all-day café named Pura Vida Miami.
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Related Ross, led by billionaire Stephen Ross, is planning to spend more than $100M to renovate a West Palm Beach office complex named Phillips Point that was built in the 1980s, the South Florida Business Journal reported.
Ross purchased the 450K SF complex at 777 South Flagler Drive and 201 Lakeview Ave. in 2021 for $281.8M. The 18-story tower has 11 stories of office space, six stories of podium parking and ground-floor retail. The second tower is 13 stories with ground-floor retail, according to property records provided by Vizzda.
The upgrades, co-led by Roger Ferris + Architects, include replacing the building's exterior, window replacements, upgrades to the lobbies, electrical infrastructure and retail spaces.
The renovations are expected to finish by 2026.
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Copans Motors Inc. broke ground on its Champion Porsche dealership expansion in Pompano Beach after securing a $52M construction loan, the SFBJ reported.
Wells Fargo provided the loan to Copans Motors Inc., led by Mitra Maraj, for a two-story 72K SF showroom and office and a four-story parking deck with 370 spaces at 300 NW 24th St.
Once the new building is finished, Champion Porsche will move from its location at 500 W. Copans Road.
SALES
IP Capital Partners LLC purchased a 78K SF industrial cold storage facility at 2323 NW 72nd Ave., according to a release.
The building was built in 1977 on 3.3 acres with 11 dock-high positions with seven dock doors. The facility was last traded in 2017 for $10M to Sun Belle Imports, which now leases 100% of the facility, according to records provided by Vizzda, indicating a likely sale-leaseback.
LEASES
Florida East Coast Realty welcomed a French-Mediterranean restaurant named Claudie by Riviera Dining Group to its 1101 Brickell office building, according to a release.
Riviera Dining Group signed a long-term lease for about 10K SF of indoor and outdoor space on the ground floor of the 300K SF twin office towers.
The restaurant is modeled after Mougins from the South of France and is led by Chef Michaël Michaelidis, head of culinary at Riviera Dining Group.
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Colliers secured five new leases and two renewals totaling 44K SF at 801 Brickell office tower, according to a release.
Colliers’ Stephen Rutchik and Tom Farmer handled the transactions on behalf of the landlords, Monarch Alternative Capital and Tourmaline Capital Partners.
The largest lease was nearly 18K SF to cybersecurity company Varonis, which was represented by Newmark’s Clay Sidner.
Eastdil Secured leased 6,233 SF for its office and was represented by Blanca Commercial Real Estate’s Alex Marquez.
The two renewals were for Sun Africa and Booking.com and totaled about 7,200 SF. The other new tenants are MKP Capital Management, Inteligo Bank and Fengate Capital, which took a combined 13K SF.
