The Melo Group of Argentina has purchased land in downtown Miami, across the street from the site where the Genting Group wants to build a casino and hotel complex.
Melo paid $9.5 million for the 43,312-square-foot parcel, the South Florida Business Journal reports. The company plans to build a hotel and residential complex on the site, which neighbors the Adrienne Arsht Center for the Performing Arts, according to the Business Journal.
Melo built five projects in Miami last year, with a total of 800 apartments.
U.S.-based private equity firm Cerberus Capital Management LP has sold a 1,900-square-meter land parcel in Tokyo to Japanese general contractor Shimizu Corp, riding on the property market boom in Japan due to Abenomics.
West Loop Holdings, a joint venture of GE Capital Healthcare Financial Services, KMF Senior Housing Investors and Senior Lifestyle Corporation, has sold a senior housing portfolio in the U.S. to Griffin-American Healthcare REIT II.
A consortium spearheaded by Perennial Real Estate Holdings has agreed to purchase a Singapore office and retail tower from the Asia Real Estate Income Fund, which is managed by the Pacific Star Group, for S$970 million ($766 million).
Philips Pension Fund has sold the Symphony Offices to Deka Immobilien GmbH for approximately €215.1 million ($294.5 million), making it the largest real estate transaction in the Netherlands in 2013 to date, according to CBRE.