Northeast

The REIT also has acquired two cold-storage properties in Maryland and Pennsylvania for $54 million.

The six-story, 151,235 square-foot project will include a 212-room hotel and three street level restaurant/retail spaces totaling 12,711 square feet.

Previous CEO of Ares Commercial Real Estate Corp., Jamie Henderson will join the firm as EVP in 2020.

"Northerners and other homebuyers are not just purchasing second homes; they are bringing businesses and moving here full time," says MIAMI Chairman of the Board José María Serrano.

With larger floor plates and higher parking ratios, large shopping centers could become homes to call centers and other back office support functions.

"Experiencing a medical emergency is just one aspect of care, it can be the door opener. Follow up services are profitable."

The project, which is scheduled to be completed in November 2020, has already secured a 130,000-square-foot lease with global private market asset management firm Hamilton Lane, which will begin occupancy of its space at the property in 2021.

The new mixed-use project will feature a host of on-site tenant amenities, including an elevated outdoor courtyard with gardens and a sun balcony, a 1,500-square-foot fitness center and a resident lounge.