Florida’s commercial real estate market is proving resilient and attractive to investors, as recent high-value transactions signal robust demand for high-quality assets. Notable acquisitions across open-air retail centers and mixed-use properties spotlight the region’s economic vibrancy and long-term growth potential.
Key Takeaways
- Over $395 million in retail properties acquired across Florida and South Carolina by Bain Capital and 11North Partners
- FAVO Capital secures a flagship $190 million mixed-use building in Hollywood, Florida
- Portfolio assets feature strong occupancy, top-tier tenants, and prime locations
Significant Retail Portfolio Acquisition Drives Momentum
A partnership between Bain Capital and 11North Partners recently closed on a $395.5 million deal for a portfolio of ten open-air retail centers. The portfolio, primarily anchored by national grocery chains like Publix, is spread across high-demand markets including Fort Lauderdale, Orlando, Tampa, Palm Beach, and Charleston, South Carolina. Properties in notable cities like Boca Raton, Plantation, and Sawgrass collectively span over one million square feet and boast occupancy rates exceeding 91%.
The appeal for investors lies in the centers’ strong tenant mix—national brands such as Starbucks, Chick-fil-A, and Walmart—contributing to stable, long-term rental income. These centers are strategically located in affluent areas enjoying both population growth and limited new retail supply, underlining their investment-grade status. Bain Capital and 11North cite Florida’s ongoing lifestyle migration and favorable demographics, including an aging population, as catalysts for their expansion.
Mixed-Use Development Purchase Reflects Growing Diversification
Complementing the retail surge, FAVO Capital, a Fort Lauderdale-based finance firm, completed its first significant real estate buy, acquiring the 1818 Park mixed-use property in Hollywood, Florida, for $190 million. The newly completed, 22-story tower features 273 residential units and roughly 10,000 square feet of ground-floor retail space.
The building, located in the thriving Young Circle commercial district, is equipped with modern amenities befitting luxury urban living—swimming pools, fitness centers, coworking spaces, and retail integration. FAVO’s acquisition, structured as an all-stock deal, also brings its developer partner on board as a stakeholder, aligning interests for long-term performance and growth. This purchase marks a deliberate step for FAVO to diversify its assets and enhance its private credit platform with real, income-producing properties.
Investor Activity Signals Confidence in Florida’s Growth
The scale and strategic focus of these deals point toward a sustained investor appetite for Florida real estate. Both retail and multifamily sectors are drawing capital, reflecting confidence in the state’s economic fundamentals and population trends. With national and institutional players actively expanding their portfolios, Florida’s commercial property landscape appears poised for continued dynamism.
Sources
- 10-Property open-air retail portfolio trades hands for $395.5M in Florida and South Carolina, JLL.
- Bain Capital and 11North Partners Acquire Portfolio of 10 Open-Air Retail Centers Across Florida and South
Carolina, Bain Capital. - FAVO Capital Acquires South Florida Mixed-Use Property for $190M, Multifamily Housing News.