AIR Communities, which spun off from Aimco last year as a separate publicly traded REIT, is reportedly the buyer of a 700-unit apartment complex in Pembroke Pines, Fla., that traded for close to $223 million. Harbor Group was the seller in what was the largest multifamily transaction in South Florida so far this year.

Preferred Apartment Communities has bought a 288-unit apartment property in Panama City, Fla. Jeff Sherman of Preferred Apartment Communities noted that the property had been identified as a potential acquisition target late last year.

Preferred Apartment Communities has acquired a 392-unit multifamily project located in the the 5,000-acre, master-planned community Wiregrass Ranch in Wesley Chapel, Fla. The REIT paid $80 million for the property, which was finished in 2018.

Mishorim-Gold Properties has big plans for The Grove in Wesley Chapel, Fla., which it bought last month for $62.7 million. The developer intends to transform the shopping center into a family-centered dining and entertainment destination with attractions like a children's park, an amphitheater, a microbrewery a family salon, a dueling piano bar and a F45 fitness studio.

Lake Nona, an 8,000-acre master-planned community near the airport in Orlando, Fla., will soon get a 3.8 million-square-foot commercial district with dining, entertainment, retail and office space, plus hotels. The developer has already spent more than $3 billion to construct commercial space and residential units.