Florida People & Companies, June 20, 2025

Florida People & Companies, June 20, 2025
News| June 19, 2025| Mike Boyd
Florida & Gulf Coast + Apartment Buildings
  • Ethan Krauss has joined Marcus & Millichap’s Fort Lauderdale office as Vice President Investments. He joins The Thomas Team of Marcus & Millichap where he will focus on advising clients in the acquisition and disposition of multifamily properties across South Florida. Prior to joining the firm, Krauss served as Director at Franklin Street, specializing in multifamily investment sales. He brings more than three years of experience and has closed over $82 million in transaction volume. He holds a Bachelor of Science in Finance and Economics from the University of Alabama. 
  • Jaime Sturgis of Native Realty, closed a $10.3 million off-market retail transaction in the city’s Cypress Creek neighborhood. Sturgis represented the buyer of Pinecrest Square, a shopping center located at 903-999 E. Cypress Creek Road in Fort Lauderdale. Pinecrest AP LLC sold the property to 903 Cypress Creek LLC. Totaling over 40,000 square feet on nearly 2 acres, Pinecrest Square is at Cypress Creek Road and I-95. Tenants include ChenMed, 7-Eleven, Jiffy Lube, Cheers Food & Spirits and Pet Emergency Center. Native is leasing Pinecrest Square on behalf of the buyer.
  • Berkley Bloodworth has joined Brennan Investment as a Senior Associate on the Florida team. Based in Southeast Florida, Berkley will be responsible for sourcing new investment opportunities across Palm Beach, Miami-Dade, and Broward counties, with a focus on the Miami, Fort Lauderdale, and West Palm Beach markets. Earlier in his career, Berkley was an Associate in the Capital Markets Group at Avison Young in Fort Lauderdale, and an Analyst at Marcus & Millichap in Orlando.
  • Hedrick Brothers Development broke ground on Baldwin East Apartments, a four-story 363-unit garden-style luxury community in Orlando’s east side submarket. The 17-acre property, located at 6730 Hanging Moss Road, Orlando, FL, will consist of one-, two, and three-bedroom residences.
  • LQ Commercial brokered five land transaction on behalf of Wal-Mart Stores, totaling over 137 acres with a combined transaction value of $45.2 million. These transactions included parcels in: Freeport, Venice, Ocala, Destin, and Spring Hill, Fla.

Other News

Multifamily Refinancing Squeeze: 41% Higher Costs, $6.8B Equity Gap

Apartment Buildings

Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...

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Mortgage Rates Tilt Demand Toward Multifamily: Marcus & Millichap

Apartment Buildings

An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...

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Revere, MA Weighs 1,700-Unit Housing Project

Boston & New England + Apartment Buildings

The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...

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