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Front Page » Top Stories » Fyi Miami

Fyi Miami

Written by on July 20, 2000


Miami is a weekly feature of Miami Today, keeping readers ahead

of the news. Here are highlights from the most current edition.

A MATTER OF TRUST: The Public Health

Trust is expected to address the ongoing question of how Homestead

Hospital is to be administered at an executive board meeting today

(7/20). In a June 27 letter to Baptist Health Systems of South Florida,

which has been operating the financially troubled hospital since

1995, trust Chairman Amadeo Lopez-Castro asked that Baptist put

$5 million in escrow to fund capital improvements. The letter also

said the trust would have sole discretion over which entity would

be responsible for administrative services — representing a

further potential $3 million burden for Baptist, according to President

Brian Keeley. "We struck a deal and now they throw in these

new conditions with no discussion," Mr. Keeley said, calling

for open meetings to resolve the issue. "I’m flabbergasted.

This isn’t acceptable to us."


Equity One, a real estate investment trust specializing in shopping

centers, secured a $16.35 million loan from Lutheran Brotherhood

for the first two phases of Shoppes at Skylake, a 280,000-square-foot

center in North Miami. The first two phases will have 150,702 square

feet and include a 51,420-square-foot Publix.

DISTRIBUTIONS: TM Distribution Group

leased 25,230 square feet at Beacon Centre. Ophelia de la Torre

of WestVest & Associates represented the tenant in the transaction.

Jose Juncadella, David Spillers and George I. Pino, Codina Realty

Services brokers, represented the landlord, Duke-Weeks Realty Corp.


The law firm of Nemser & Wolis bought a 60,000-square-foot Union

Planters Bank, 1666 Kennedy Cswy., for $2.6 million. Jack Lowell

and Tere Blanco de Ulloa of Codina Realty Services represented the

seller in the transaction.

WACO LEASE: Waco Associates leased 21,800

square feet of industrial space at 11701 NW 100th Road, Medley,

from Gran Central Corp. Michael Silver of CB Richard Ellis represented

the tenant in the transaction.

MC DEAL: Allplus Holding Corp. bought

three-quarters of an acre at Northwest 58th Street and 100th Avenue

for $285,000. Mark Aleman of MC Realty Services represented the

buyer in the deal. He said MC Construction will build a 17,000-square-foot

office at the site.

COMMODORE SALE: Joe El-Masry, owner

of Barracuda Bar, bought a one-story, 6,600-square-foot building

at 3131 Commodore Plaza, former site of Sloppy Joes, for $950,000.

The seller is Commodore Partners, whose principal is Manny Alonso

Poch. Berk Boge and Robert Wallace of Coconut Grove Realty co-listed

the property and Keppy Smith of Wood Fay Realty was selling agent.


Little River Studios, whose principals are Mallory Kauderer of Miami

Beach and Robert Gothard of Martha’s Vineyard, MA, paid $335,000

for two buildings of 4,430 and 11,635 square feet on 1.09 acres

at 300 NE 71st St. to convert to a photography studio. The James

M. Perry Co. arranged a 10-year first mortgage of $235,000.

CONSTRUCTION COST: In our July 13 coverage

of BOV Construction’s South Beach projects, the amount of the Commerce

Bank loan for construction of the Bentley Beach Condominium Hotel

should have been $30 million.

HIRING STATUS: Members of the Governor’s

Financial Oversight Board said Tuesday they were pleased that the

City of Miami filled four top executive posts and is reviewing candidates

for an assistant city manager for real estate & development and

a director of finance. In May the board had complained of nine vacancies

in the city’s executive ranks. "You’re building a great team,"

said Gabriel Bustamante, an oversight board member. Three other

positions — directors for building, general services administration

and information technology — are on hold pending a city reorganization.


Linda Haskins, an adjunct professor in the University of Miami’s

finance department who worked as a senior executive for American

Savings of Florida from 1984-95, was hired Monday as the City of

Miami’s new director of management and budget. Ms. Haskins, a registered

CPA, also worked nine years with KPMG Peat Marwick.

E-LUNCH: The Miami Beach Chamber of

Commerce, Visitor & Convention Authority and Greater Miami Convention

Bureau are co-sponsoring a luncheon panel, "E-commerce Travel:

Its effects on the industry & our community," at noon July

27 in the Wyndham Miami Beach Resort. Scheduled panelists include

Hotel Reservation Network’s Robert Diener, Darryl Bowie with SCA

Telecard Services and local e-firm executives. Details: (305) 672-1270,

ext. 27.

STEINBAUER MOVE: The commercial and

industrial real estate brokerage firm Steinbauer Associates has

relocated to Suite 111 in Building I at the Doral Executive Office

Park, 3785 NW 82nd Ave. Details: (305) 629-9740.

COMPLIANT SESSION: The Builders Association

of South Florida is holding a seminar, "Workers Compensation

Compliance," from 3-5 p.m. July 25 in the Sheraton Ft. Lauderdale

Airport Hotel, 1825 Griffin Road, Dania. Cost is $15; free to members.

Details: (305) 556-6300.

First Bank