Carter USA and Hunt Companies have sold The Desota, a 180-unit apartment community at 1415 Second St. in Sarasota, Florida, for $80.3 million, or about $446,000 per home, to Bluerock Real Estate LLC. The 10-story, 155,460-square-foot, 4-Star multifamily property was built in 2017 on 1.2 acres in the Downtown submarket of Sarasota County. It features a [...]
The beginnings of Whole Foods can be traced back to what Jim Sud, executive vice president of growth and business development for the Austin, Texas-based grocery chain, calls "the worst real estate ever:" a three-story house in the middle of the block along a primarily residential street in Austin near the University of Texas. Sud spoke with Herb [...]
Sarasota Private Trust Co. LLC announced the Florida Office of Financial Regulation approved its application to organize as a non-depository trust company. According to a press release, Sarasota Private Trust Co. is privately owned by several Sarasota families as well as New York Private Bank & Trust, led by financier and entrepreneur Howard Milstein. The new charter was granted [...]
Gulf Coast commercial real estate markets are poised to continue to generate high growth again in 2019, mirroring — or even eclipsing — the region’s robust stalwart performance of the past year, experts predict. Much of that belief is tied to future growth in the national economy, despite potential hurdles from interest rate hikes, international trade [...]
Private equity giants active in investing during the decade-long rise in commercial property values are loading up new funds to expand their acquisition spree into the coming year, with much of the spending aimed at multifamily and industrial properties. While commercial real estate sales have been muted for the past three years as valuation gains slow, [...]
The government shutdown, just days away from being the longest in history, has stretched into its 20th day, with 800,000 federal employees either furloughed from their jobs or working without immediate pay. Needless to stay, the halt or slow down of services from the Environmental Protection Agency, Department of Housing and Urban Development, Family Housing Administration [...]
