South Florida Real Estate - Jan. 2006

Martha Brannigan | 1/1/2006

>> The Palm Beach Hilton has changed hands: Investcorp International, a New York-based investment group, and Ceebraid-Signal Corp., which develops and manages real estate, bought the 134-room hotel from Memphis-based Davidson Hotel Partners for $42 million. The new owners renamed the oceanfront facility Ocean Club Beach Resort and are converting it to a condo hotel...

>> Owners of Gulfstream Park, the Hallandale racetrack, are betting people will want to live and shop next door. Magna Entertainment Corp. unveiled a joint venture with Forest City Enterprises to develop a 55-acre living, retail and entertainment complex overlooking the track. Phase one of the Village at Gulfstream Park is slated to have 250 housing units and 400,000 square feet of shops and restaurants. Under the pact, Forest City, a Cleveland-based real estate concern, will obtain financing, develop the project and manage the property...

>> Building is under way on The Atrium at Aventura after Wachovia Bank in Tampa made a $77-million construction loan for the luxury condo project. Developer Gates McVey plans two 12-story towers for the site at northeast 188th Street in Aventura. The 192-unit condo development will have 22 boat slips. Catalfumo Construction's Seawood Builders division is general contractor.

Tags: Southeast