Moss & Associates, a construction management company, has completed The Ivy residential and mixed-use tower in downtown Miami, a $121 million project. Located on more than 13 acres along the Miami River, The Ivy is a 45-story residential tower with 504 luxury condominiums and nine levels of parking, in addition to restaurants and retail shops located at street level. Amenities include a two-story lobby, pool and fitness facility.
Lowe Enterprises Investors has acquired an industrial facility for $31.5 million from an institutional owner. The 266,396 sq. ft. industrial distribution facility is located in central Los Angeles. The building is situated on approximately 11 acres and offers clear ceiling heights, a guarded rail truck entrance, and a secure truck yard. Lowe Enterprises will assume property management of the facility. The complex is fully leased until 2010.
Federal Capital Partners has closed its $230 million real estate private equity fund, FCP Fund I LP. The fully discretionary fund is targeted to equity and debt investments in residential and commercial properties, and land throughout the Mid-Atlantic region. Federal Capital Partners expects to use modest leverage in the fund, which will allow for approximately $800 million to $900 million of total investments.