October 1, 2020
Franchisees are back in the real estate game, thanks to the pandemic

Photo:

Florida Trend Real Estate

Franchisees are back in the real estate game, thanks to the pandemic

| 6/15/2020

Franchisees are back in the real estate game, thanks to the pandemic

While many all-cash investors are waiting to see how the pandemic progresses, opportunities are opening up for commercial buyers who depend on financing. For franchisees whose brands serve middle-class clients, that’s good news. South Florida commercial real estate agents and lawyers have seen a flurry of deals from fast-food restaurants, spa brands and automotive chains. The pace of acquisitions is noticeably higher now than in June 2019. More from the Miami Herald.

The Motwani family business's rise from motels to luxury hotels and condos

Before buying their first, small motel on Fort Lauderdale Beach in 1986, Bob and Ramola Motwani quizzed local real estate pros and motel owners. They were told the annual spring break boom made for a can’t-miss market. The Motwani family's first venture in Florida landed them in a fix — but ultimately on a trajectory they've ridden from mom-and-pop motels to luxury hotel and condo towers. [Source: Florida Trend]

Pandemic threatens to upend a thriving real estate model

Mixed-use projects have been a hallmark of the country’s urban renaissance over the past couple of decades. In some cases, these projects have transformed whole areas: The 56-acre Water Street Tampa, for example, will connect the city’s downtown with its waterfront. In general, they have helped define the live-work-play ethos that many younger professionals seek in cities. But the coronavirus threatens to upend the allure of retail and restaurants in these developments. [Source: South Florida Sun-Sentinel]

Inside the innovative first development from Belmont Village, Baptist Health

The Houston-based senior living company and the Florida-based non-profit health care system are collaborating on Belmont Village Coral Gables, a mixed-use senior living community set to open in downtown Coral Gables, Florida. As planned, the 10-story community will have 232 private apartmentsfor independent living, assisted living and memory care residents, and more than 18,300 square feet of ground-floor retail and commercial space. [Source: Senior Housing News]

Miami international home sales totaled $6.9 billion in 2019

According to the latest Profile of International Home Buyers of the Miami Association of Realtors, a strong U.S. dollar and a worsening global economic outlook outside of the U.S. slowed South Florida international home sales in 2019, but domestic buyers stepped in as total Miami residential sales and prices increased year-over-year. Despite the decline, foreign buying activity remained strong, particularly when compared to the rest of Florida and the rest of the country. [Source: World Property Journal]

STAT OF THE WEEK
9,750
Former NFL All-Pro tight end Jeremy Shockey hopes to toss his 9,750-square-foot Miami Beach home to a new owner. Purchased in 2015 for $1.75 million, it’s now on the market for $4 million. [Source: Orlando Sentinel]

ALSO TRENDING:

› Vacation rental regulations a patchwork of restrictions
After shuttering vacation-rental properties in late March, Gov. Ron DeSantis lifted the ban for counties outside of South Florida, with a caveat: County officials had to submit proposed rental procedures to the state and get the go-ahead before bookings could resume.

› More tech firms eye Miami as Covid carries on
South Florida could benefit from the pandemic, as companies look to take advantage of tax benefits, weather and more affordable housing costs.

› Sarasota-Manatee homeowners could take equity hit
In Sarasota-Manatee a total of 7,427 residential properties — or 4.02% of those with mortgages — owed more on their loans than their homes were worth during the first quarter of 2020, CoreLogic reported.

› Real estate investor plans residential community for 128 acres across from Glen Lakes
Walton, an international real estate investment and land asset management company, has acquired Crystal Waters which consists of 125 acres of land for a residential planned unit development and 3.35 acres of commercial land, located at the intersection of Highway 19 and Glen Lakes Blvd. in Weeki Wachee, Hernando County.

Tags: Real Estate eNews

Previous Real Estate Updates:

Real Estate Video Pick

'House of Budweiser' under contract in Lake Worth for over $100,000
'House of Budweiser' under contract in Lake Worth for over $100,000

It's called the 'House of Budweiser,' now under contract in Lake Worth for just over $100,000. A U.S. Navy Veteran covered the house with thousands of cans of beer he drank. When you walk up to unit #102 you see some Budweiser wind chimes and you even see a Budweiser sign on the wall. But that's nothing until you open the door.

Real Estate Videos | Viewpoints@FloridaTrend

Ballot Box

Do you think it's too soon for Florida to fully reopen bars and restaurants?

  • Yes
  • No
  • Undecided
  • Other (Please share your comments in the comment section below)

See Results

Florida Trend Media Company
490 1st Ave S
St Petersburg, FL 33701
727.821.5800

© Copyright 2020 Trend Magazines Inc. All rights reserved.