DC Realty Advisors

SOFA Delray development scores $29.7M loan SunTrust Bank has provided a $29.7 million mortgage for the SOFA Delray apartment project. RD Delray LLC, an affiliate of Miami-based the Related Group, arranged the loan to develop its 172-unit project in Delray Beach, according to the South Florida Business Journal. SOFA refers to the expre

Large Boca Raton office trades for $76M One of the largest office buildings in South Florida has traded hands to the tune of $76.35 million. One Boca Place Inc. sold the nearly 277,390-square-foot property to a joint venture managed by Crocker Partners and listed as CP Boca Place, the South Florida Business Journal reported. The pr

Company linked to Blackstone grabs Boca Raton hotel A company tied to New York’s the Blackstone Group paid $12 million for a Marriott-branded hotel in Boca Raton. BRE Newton Hotels Property Owner acquired the Residence Inn Boca Raton at 525 Northwest 77th Street in a transaction recorded on Monday, according to Palm Beach County records. LES

Market Trends Hospitality — With more money available for construction lending, Pittsburgh has become a mecca for limited-service hotels, with the number of rooms increasing more than 1,000 percent since 2007, according to a HotelNewsNow.com analysis of STR data. Other markets experiencing exponential hotel growt…

South Florida’s active listings increase for the week Active listings for housing inventory in the South Florida region increased last week to 41,861, according to weekly data from Condo Vultures. For the seven-day period ending Monday, pending sales dipped from 21,743 to 21,450 week-over-week. Over the past four weeks, pending sales declined by