Monday, May 6, 2013

30 New St. Regis Bal Harbour Condo Units Trade For $130 Million In Q1 2013

              St. Regis Bal Harbour Resort & Residences, Bal Harbour, FL

MIAMI, FL -- Buyers purchased 30 new condo units in the St. Regis Bal Harbour Resort & Residences on the barrier island in Northeast Miami-Dade County for more than $130 million in the first quarter of 2013, according to a new report from

Buyers purchased more than 84,000 square feet of livable space in the St. Regis Bal Harbour Resort & Residences at an average price of nearly $1,550 per square foot between January and March of 2013, according to an analysis of Miami-Dade County records.

Individual transactions in the ultra-exclusive project have ranged in price from less than $1,050 per square foot to more than $2,060 per square foot with units trading for between $1.7 million and $13 million, according to the report based on Miami-Dade Property Appraiser records. is scheduled to profile condo trends in the first quarter of 2013 in the 10 largest coastal markets in the tricounty South Florida region of Miami-Dade, Broward, and Palm Beach counties beginning the week of April 15, 2013.

 For a complete copy of the company’s news release ,please contact:

Condo Vultures® LLC
225 Midtown Building
225 NE 34th St.,
Suite 209B,
 Downtown Miami, Florida, 33137.

HFF arranges $85 million financing for Cheeca Lodge & Spa in the Florida Keys

Cheeca Lodge & Spa, Florida Keys

TAMPA, FL – HFF announced today that it has arranged $85 million in financing for the Cheeca Lodge & Spa, a landmark luxury destination resort in the Florida Keys.  The property is AAA four diamond-rated and has been ranked as one of Travel & Leisure’s “500 Greatest Hotels in the World”.

HFF worked on behalf of NWCL LLC, an affiliate of Northwood Investors, to secure the 10-year, fixed-rate CMBS loan.  The borrower acquired the property in 2011 in a transaction arranged by HFF’s hotel group. 

Cheeca Lodge is “one of the country’s most recognized resorts” situated on 27 acres with more than 1,200 linear feet of beachfront in Islamorada. 

Originally developed in 1946, the property was extensively renovated between 2003 and 2010, and the main lodge building was completely rebuilt in 2009. 

Max Comess
The luxury resort includes 214 units, a mix of hotel rooms and third-party owned condominiums, 5,439 square feet of function space, three restaurants, a Jack Nicklaus-designed nine-hole golf course, two swimming pools, a 5,500-square-foot spa, six tennis courts and a fishing/mooring pier. 

The property also maintains the rights to develop 28 new units through an approved site plan.

The HFF team representing the borrower was led by senior managing director Dan Peek, director Chris Drew, associate director Max Comess and senior real estate analysts Cyrus Vazifdar and Scott Wadler. 

Chris Drew
“Northwood is a market savvy institutional investor that is locking in generationally low, fixed-rate financing for a core asset in its portfolio,” said Drew.  “We continue to see our more sophisticated clients implementing this exact strategy to manage future interest rate risk.” 

“HFF’s hotel group is extremely pleased to facilitate another successful transaction on this world-renowned resort,” commented Peek.  “We have the utmost respect for the Northwood team and were pleased to be of service once again.”

HFF’s hotel group completed more than $1.7 billion in hotel transactions across all capital markets nationally in 2012, with more than $248 million of that volume in the state of Florida. 

For a complete copy of the company’s news release ,please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |