south florida real estate News Archive

Florida East Coast Industries Announces Agreement for a Newly Created Holding Company to Acquire Codina Group and (PR Newswire via Yahoo! Finance)
Florida East Coast Industries, Inc. and Codina Group, Inc. today announced that a newly formed holding company of FECI has entered into an agreement to acquire privately held Codina Group, the largest industrial developer in South Florida and one of Florida's largest exclusive third-party real estate service providers, and related property interests.

Codina deal creates real estate powerhouse (Miami Herald)
Florida East Coast Industries, the company descended from the railroad that sparked development throughout the state, has acquired Armando Codina's development firm in a deal that creates one of the largest landowners and development companies in Florida.

2 Florida Real Estate Giants Merge (Turks.US)
Coast Industries known for railroad and development all over the state finished a deal with Codina a known head of Codina Group,is now named FECI's new chief executive and president of it's real estate part which is Flagler Development.

Florida East Coast to buy Codina, real-estate assets (Gainesville Sun)
lorida East Coast Industries Inc., a railway and real-estate company, will buy privately held industrial developer Codina Group Inc. as well as certain land parcels and properties for around $168 million.

FEC Industries agrees to buy real-estate firm (Orlando Sentinel)
Florida East Coast Industries Inc. agreed to buy closely held Codina Group Inc., where Gov. Jeb Bush once was a partner, for $168 million. FEC also will pay $66 million for 40 acres of land from Armando Codina, chief executive officer of Codina Group, which is based in Coral Gables. It will assume $36 million of Codina Group debt, the companies said Friday. FEC, a railroad and real estate company

Florida East Coast Industries Buying Codina Group in $270M Deal (GlobeSt.com)
ST. AUGUSTINE, FL-In what area brokers and marketers tell GlobeSt.com is the largest commercial real estate company merger of its kind in the past 30 years, a newly formed holding company of St. Augustine-based Florida East Coast Industries Inc. is acquiring Coral Gables-based Codina Group, the largest industrial developer in South Florida, in a cash-debt deal valued at about $270 million.

Florida East Coast to buy South Florida developer for $270M (bizjournals.com via Yahoo! Finance)
Florida East Coast Industries has formed a new unit that will buy one of the biggest industrial developers in South Florida. Florida East Coast will pay $270 million for the privately-held Codina Group Inc.

Slip space gets hard to find (Sun-Sentinel)
Good news: South Florida's recreational marine industry got a big boost when Tom Lewis, a real estate developer and boater, took over ailing Broward Marine, the only builder of megayachts in the tri-county area, and launched a new line of yachts ranging from 118 feet to 155 feet.