Developer John Yanopoulos of Y Group wants to tear down a standing hotel, build another one, and redo the golf course at the Grand Palms Resort & Golf community (photo) in Pembroke Pines. The South Florida Business Journal reports that he told residents he wants to invest $1 billion in the project, which also includes condos.
The developer would replace the hotel with an eight-story hotel in two buildings. One would have 240 hotel keys, and the other would have 205 hotel/condo units.
In addition, he would build three condo buildings of 10 stories each and about 17 two-story villa buildings, each with a private pool and garage. He would fund the construction of a new 50,000-square-foot clubhouse, a new guardhouse and entrance, realigning the roads, and a major revamp of the golf course.
The HOA ultimately voted to move forward with negotiations with the developer.
Yanopoulos will also need city approval for the project.
Affinius Capital LLC has originated a $226-million loan to refinance 55 Willoughby (marketed as House 55), a Class A, 295-unit, 43-story multifamily property with 3,200 square feet of ground-floor retail located in Downtown Brooklyn. The loan was made to a joint venture between Lonicera Partners and Rabina. Proceeds will bridge the property to stabilization early...
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Northmarq’s Midwest Multifamily Investment Sales team of Parker Stewart, Anthony Martinez, Dominic Martinez and Alex Malzone, with Jim Gibson, brokered the $9.4 million sale of Southfield Apartments. The 84-unit multifamily complex was built in 1993 and is located at 7009 S 83rd St. in La Vista, Nebraska. Northmarq represented the seller, an Omaha-based private investor in...
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JLL has arranged the $25 million sale of FourNorth Apartments, a 76-unit boutique apartment community in Arlington Heights, Illinois. JLL worked exclusively on behalf of the seller, Benchmark Developers, in the sale of the property to a private investor. JLL’s Capital Markets Investment Sales and Advisory team representing the seller was led by Bill Baumann,...
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