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May 27, 2018
Arkansas bank is biggest lender in Miami-Dade's condo boom

Photo: Rendering MonadTerrace.Miami

Monad Terrace, on Biscayne Bay, is being funded in part by the Bank of the Ozarks

Florida Trend Real Estate

Arkansas bank is biggest lender in Miami-Dade's condo boom

| 5/21/2018

Arkansas bank is biggest lender in Miami-Dade's condo boom

During a period when banks across Florida were hesitant about lending on large construction projects, Bank of the Ozarks was on a tear: With $22 billion in assets, it provided more than $1.2 billion in construction loans in the Miami metropolitan area from 2013 through 2017. The bank was the largest condo construction lender for Miami-Dade’s biggest projects, responsible for 26.5 percent of the total dollar volume of loans issued to the 25 biggest projects. Bank of the Ozarks, the largest bank in Arkansas, is also the biggest construction lender in Los Angeles. [Source: The Real Deal]

Florida median home prices continue to uptick in 2018

According to the Florida Association of Realtors, Florida's housing market reported slightly more new listings and higher median prices during the first quarter of 2018. A shortfall of for-sale inventory continued to impact Florida residential property sales even as the number of owners listing their properties for sale inched up over the quarter. More from World Property Journal and National Mortgage Professional Magazine.

Repealing Florida's 'Non-Homestead Exemption Cap' could result in annual $700 million tax increase

A new report from the state's independent, nonpartisan, nonprofit government watchdog and taxpayer research institute, Florida TaxWatch, shows that failure to make permanent the non-homestead exemption cap could result in Floridians paying as much as $700 million more in property taxes annually. Read the full Florida TaxWatch report here.

Disney expansion turning Orlando into hot spot for Brazil real estate investors

International investors have been the predominant investors in South Florida and they are now looking at Orlando because the returns are good thanks to tourism. This is a unique time for Orlando. The window of opportunity has not closed like I think it has in South Florida for the time being," says Kevin Mays, director of development at BTI. [Source: Forbes]

“Halfback” trend revives as more retirees leave Florida for other states in the South

The economic recession in the late 2000s slowed the flow of native-northern halfbacks who moved to Florida and then moved roughly halfway back, settling in small mountain towns in such states as North Carolina and Tennessee. But the halfback trend, which was well under way by the early 2000s, has regained momentum. [Source: The Real Deal]

STAT OF THE WEEK
$198,400
A not-for-profit corporation established by the state Realtor association, the Florida Realtors Education Foundation Inc. provides real estate-related educational scholarships. The Foundation's Board of Directors awarded $198,400 in scholarships to help pay for higher education expenses for 132 young people in the 2018-2019 school year. [Source: Florida Trend]

ALSO TRENDING:

› Tampa's Lakeview Center sold for $21.8 million
TerraCap Management, a commercial real estate investment management company based in Florida, has sold Lakeview Center in Tampa for $21.8 million. The buyer for the 186,300-square-foot office property is TriOut Advisory Group, a Miami-based real estate investment firm.

› Henley USA expands to hospitality market in South Florida
Henley, the global private equity real estate investor, has purchased two hotels in the vibrant urban areas of Little Havana and South Beach, Miami. It will fund the transformation of the properties by introducing both private and shared accommodations at each location, providing travelers more options than a traditional hotel or Airbnb stay.

› Surge of home starts in Hillsborough, Pasco still can’t meet demand
Over the past 12 months, the number of new home starts jumped 16 percent compared to the previous 12-month span. In Waterset alone, 340 houses began construction as bulldozers and backhoes continued to transform one-time farm fields into what ultimately could be a community of 10,000.

› Real estate heavy hitter leads company with focus on vision
In her over three decades in the real estate industry, Judy Green has helped grow several successful companies — all while staying true to her vision and herself.

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