The marina facility on 13.1 acres at 6000 Peninsular Ave., known as “America's Southernmost Marina,” was sold by iStar Inc., which was represented in the deal by Avison Young principal George Vail.

While developers stand to reap the benefits of tax breaks, it is not clear how residents of low-income neighborhoods in Opportunity Zones will benefit from the redevelopment of their communities.

The respective properties were acquired through a newly formed joint venture among a wholly-owned subsidiary of Summit, a real estate holding company, and a global institutional asset management firm. The properties will be leased back to the seller on a triple-net basis.

The approval ratchets up the Hood Park project being developed on approximately 20 acres to 1,735,800 square feet.

The two companies reported this morning the transaction has been unanimously approved by the boards of directors of both companies. Mark Gibson, CEO of HFF, will join JLL as CEO, Capital Markets,

The deal was reported by Bethesda, MD-based commercial real estate finance firm Walker & Dunlop, which represented California-based Praelium Commercial Real Estate and South Street Partners of Charlotte, NC, in refinancing the property as part of a restructuring and recapitalization of the ownership entity.

It seems only fitting that as one of the last cranes standing in Brickell comes down, the topping off of Brickell Flatiron has signaled the near completion of the 736-foot-high tower that will stand as the tallest condominium south of New York City.

Øystein Elgsaas, architect and partner at Voll Arkitekter, says The Mjösa Tower symbolizes environmentally friendly thinking in construction and offers proof that tall buildings can be built using wood.