A Tampa company grows, and tall residential buildings are planned in and around Miami.
Oracle Acquires Atlanta’s Vertical Systems
Tampa-headquartered Oracle Elevator announced in October it acquired Vertical Systems, Inc., based in Atlanta. It is Oracle’s 27th acquisition since its founding and seventh since 2017. The transition of Vertical Systems into Oracle’s new Atlanta branch is being led by Oracle’s Midwest Regional Vice President Jeff Hanson and Director of Acquisitions Craig Jones (ELEVATOR
WORLD, August 2018). The move will allow Oracle to expand its regional coverage into states including Alabama, Tennessee and the Carolinas. At the time of the acquisition, Oracle provided maintenance, repair and modernization services in 35 markets in 14 states. Oracle observed it has “expanded its internal business- development team as it accelerates mergers and acquisitions activity.”
Financing Paves Way for Pair of 50-Story Condos
The Trump Group (no relation to Donald Trump) secured a US$558-million loan in September that will enable construction of a pair of 50-story luxury condominium towers in Sunny Isles Beach, Florida, near Miami, the Council on Tall Buildings and Urban Habitat reported. Expected to open by late 2020, the towers, Via Acqualina 777 and Via Acqualina 888, are part of The Mansions at Acqualina at 18901 Collins Avenue. They will have approximately 245 residences, including three single-family homes and three penthouses with private pools. There will be 50,000 sq. ft. of amenities with an ice-skating rink, a bowling alley, a childcare center, a fitness center and a movie theater.
Luxury Tower Set to Rise on Biscayne Bay
With a year’s worth of excavation and underground construction behind it, developer OKA Group is ready to see Missoni Baia, a 57-story residential building on Biscayne Bay in Miami’s Edgewater neighborhood, begin rising above grade, SkyriseCities reported in September. The 649-ft. tower, designed by Asymptote Architecture, will deliver 249 luxury units, most with sweeping views of the Atlantic Ocean. Amenities will include a trio of swimming pools: an Olympic-sized, a children’s and an infinity- edge pool. There will also be waterfront tennis courts, a fitness center, a spa, a 400-car garage and a multilevel podium. A construction timeline was not reported.