Florida Trend Real Estate
Florida faces apartment shortage
Florida faces apartment shortage
As more and more Floridians turn away from homeownership in favor of renting, the state is facing a serious shortage of apartments. Numbers from the Florida Apartment Association show that the state would need to add over 600,000 new apartments by 2030 to keep up with both the rising population and the increased demand. More from WJCT and WUSF.
For one South Florida investor, the future of real estate is through cryptocurrencies
Cryptocurrencies have become popular in South Florida. From specialized conferences to a bitcoin ATM machine in Wynwood, they remain a valuable tool for the large community of Latin American investors here and technology innovators alike. Aventura-based real estate developer Remy Jacobson was an early investor in cryptocurrencies back in 2011. He’s since developed a platform that allows anyone to invest in real-estate properties using cryptocurrencies. [Source: WGCU]
314 Florida realtors form shape of a key to set Guinness record
A group of 314 Realtors at a Florida convention set a Guinness World Record by forming the world's largest human image of a key. The Florida Realtors said a Guinness adjudicator was on hand during the attempt at the 2019 Florida Realtors Convention & Trade Expo at Rosen Shingle Creek in Orlando to ensure all of the record-keeping organization's rules were followed. [Source: UPI]
Fast-growing real estate tech firm has big need for more space
October marks five years since Sarasota attorneys Evan Berlin and Jamie Ebling sold a staid title search business to their friend and client, area entrepreneur Jesse Biter. The attorneys basically dared Biter: See if you could do any better than 1,000 searches a month and a little over $1 million a year in annual revenues. See if you can get to 1,500 searches. A commercial property owner who built and sold a software business in the auto industry, Biter beat that mark handily. [Source: Business Observer]
Miami-Dade is the most expensive metro in the U.S. for renters and one of the costliest for home buyers. This series explains why that’s so and what it means for the region and its residents. Our interactive tool helps renters and buyers match their budgets to affordable neighborhoods. [Source: ]
› Homebuilder Toll Brothers adds to portfolio aimed at active adult communities in Palm Beach Gardens
Toll Brothers is continuing to bet big on western Palm Beach County, adding another development to its portfolio at a massive housing community aimed at older adults. The Pennsylvania-based homebuilder paid $31 million for a property it intends to develop into 469 single-family houses in an active adult community in Palm Beach Gardens.
› Palm Beach real estate agent heads to Bahamas to help with relief
Palm Beach real estate agent Jonathan Duerr was among the volunteers who traveled to the Bahamas on a cruise ship turned relief vessel to help those affected by Hurricane Dorian.
› Gulfstream Isles apartments sell for $109 million
A Dallas-based investment firm with ambitious growth goals has acquired one of Fort Myers largest multifamily rental complexes for $109 million, property records show. Lurin Capital’s purchase of the 936-unit Gulfstream Isles complex illustrates just how robust apartment deals in the Southwest Florida submarket have become in the past year.
› Urbanica scores construction loan from Miami Beach’s biggest developer
Ubranica Management just scored a loan for a hotel project, but they didn’t go to a bank for the financing. Instead, they got the cash from Miami Beach’s largest developer. Urbanica scored a $9 million construction loan from a company tied to Russell Galbut that will be used to finish constructing its third hotel in Miami Beach.
Previous Real Estate Updates:
- Low-interest rates boost Florida home sales, prices, but foreclosure crisis looms
- Investors are showing love - but little money - for South Florida's office market
- Florida Housing approves $250 million in federal funds for housing assistance, what's next?
- Home prices in Florida and Arizona expected to drop due to COVID-19 “perfect storm”
- Renters cheer, landlords fume at last-minute extension of Florida's eviction moratorium
- Florida's delinquent mortgages trigger fears of housing meltdown
- With eviction freeze extension, Florida landlords wonder how they'll recover lost rent
- Franchisees are back in the real estate game, thanks to the pandemic
- Higher property tax bills could bring more financial pain during coronavirus pandemic