Area News
First Brands files for bankruptcy, revealing billions of dollars in liabilities
First Brands, a U.S. auto-parts maker, filed for Chapter 11 bankruptcy with at least $10 billion in liabilities and up to $10 billion in assets …
Port Charlotte resort gets new name as $200M sale closes
Blackstone Real Estate Group has purchased the Sunseeker Resort in Port Charlotte from Allegiant Travel Co. for $200 million, far below its $600M+ construction cost …
US apartment rent growth flattens in July
U.S. apartment rent growth stalled in July, with more than half of the 50 largest multifamily markets seeing month-to-month declines. The national average rent held …
The Fed is starting to worry about the housing market now
The Federal Reserve’s latest meeting minutes revealed new concerns about the housing market, which has been dragging down economic momentum. Policymakers noted weakening demand, falling …
Florida now permanently exempting sales tax on everything from batteries to bike helmets
Starting August 1, 2025, Florida now offers a permanent sales tax exemption on items like batteries, bike helmets, sunscreen, generators, and life jackets. These were …
Collier County approves NC Square project, residents voice traffic concerns
Collier County commissioners have approved the 24‑acre “NC Square” mixed‑use development at the southwest corner of Immokalee Road and Catawba Street, reshaping the site into …
Port Charlotte’s Sunseeker resort sold for $200 million
Allegiant sold the Sunseeker Resort Charlotte Harbor to Blackstone for \$200 million, aiming to refocus on its airline business. The \$695M resort faced delays and …
Driftwood Capital has launched a new Driftwood Lifestyle & Luxury Division (DLLUX), focusing on managing, investing in, and developing luxury and lifestyle hotels and branded …
Developers use branded condos to finance luxury hotels as some lenders back off
Luxury labels like Mercedes-Benz, Dolce & Gabbana and Baccarat now lend their names to condo projects, letting developers pre-sell “branded residences” to fund new five-star …
2025 Commercial Real Estate Outlook for Southwest Florida
Looking forward to growth in 2025 The Florida commercial market continues to grow in certain sectors and sizes. Many landlords and investors are seeing a …