Miami Real Estate Sees Revival From Institutional Investors

Luxury Condo Developers Look to Nontraditional Lenders

In the wake of the condominium collapse that thwarted the Miami real estate market, institutional investors are picking up where traditional bank lenders left off and are reviving the unfinished business of luxury condominium development in South Florida.

Where foreclosures and uncompleted projects once existed is a renewed sense of opportunity for luxury real estate developers in the region. The key to this revival, according to George Helmstetter, VP of New York-based investment and development firm iStar Financial, development partner for Marina Palms Yacht Club & Residences, is finding projects with unique and attractive characteristics that can be effectively rebranded and redesigned for the current market.

Institutional Investors Lead the Way to a New Market

“In order to enhance returns and maximize upside market movements, investors needed to focus on acquiring properties that were unique in nature and that offered value and opportunities through rebranding, repositioning and design initiatives,” said Helmstetter.

“Institutional investors are beginning to back new development opportunities, as risk-reward profiles are once again attractive in nature.”

– George Helmstetter, VP of iStar Financial

Investors in the Florida new construction efforts have been following what Helmstetter proposes, and it seems to be working. Helmstetter and iStar Financial are in the process of optimizing their latest project, Marina Palms Yacht Club and Residences in North Miami Beach, with intentions of enhancing business returns and stirring up the market once again. Trending efforts from various other institutional investors also indicate a turn for the positive in the Miami Real Estate market.

With luxury condominiums already witnessing a comeback in South Florida, thanks in part to new construction efforts, now, more than ever, is the time to rediscover luxury real estate in Miami.

(Source: South Florida Business Journal)

About Marina Palms:

Marina Palms, a project being developed by affiliates of The Plaza Group and The DevStar Group, is comprised of two towers, each 25 stories tall, with a total of 468 units. A full-service yacht club and marina will feature 112 boat slips for yachts up to 90 feet. Marina Palms is the first Miami luxury real estate development with full-service marina/yacht club to be built in Miami-Dade in the past 20 years.

Located at 172nd Street and Biscayne Boulevard in North Miami Beach, Marina Palms Yacht Club & Residences will offer amenity-rich living, unparalleled services and a boating lifestyle designed for yachting enthusiasts. With one million sq. ft. of livable space fronting a waterfront promenade, the residential development will entice any buyer in search of luxury waterfront living.

Every two-, three- and four-bedroom Miami condos and penthouse in the two-tower Miami waterfront development will offer luxury amenities such as butler service, infinity-edge pool and hot tub, a state-of-the-art gym, a spa with treatment rooms, a sauna, a steam room and workout studios, a news café, club room with bar, billiard table and 100” plus TV, children’s playroom and teen lounge and secure, gated access with 24-7 valet service.

Discover more about Marina Palms Yacht Club & Residences, contact our sales team online, or call (866) 338-5643 for more information.

For daily updates and project news, follow Marina Palms on Facebook and Twitter.

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