Terranova Corporation is a commercial real estate holding company and investment firm. The firm has been operating for at least two decades of experience with properties in areas such as office, industrial, retail and multifamily. The company’s large real estate portfolio is in the hands of several local teams and accounts for over $250 million in annual rent. The company is also the largest single seller of distressed commercial real estate in South Florida, having sold properties worth millions of dollars on their own behalf.
At one point, Terranova had approximately $1 billion in was founded in the city of Miami, FL in 1975, and is now a diversified commercial real estate investment firm that owns and manages approximately 90 commercial properties in three markets. Terranova’s office tower at Miami International Airport, at 1 Biscayne Boulevard, is the oldest and tallest building in Miami and is comprised of 37,000 square feet of retail and office space, an 11-story parking garage and a two-story lobby. The two office towers at the Brickell Corporate Center are each approximately 20 stories high and contain 500,000 square feet of office and retail space. Refer to this article for related information.
Terranova’s 1,500-car parking garage and 1,100-space hotel facility are part of the 1.5 million-square-foot City Point development located on the east side of downtown Miami. Bittel is also one of the pioneers of Corporation has assets of over $3.1 billion, including over $1.4 billion in real estate properties, a number that has steadily grown through strategic acquisitions and through the company’s ability to reposition underperforming assets.
Terranova developed an in-house team of around 30 analysts who spend countless hours analyzing property sales, valuations and other financial data to help the company manage risk. “It took a big team effort to get us through the recession,” says Bittel.
Stephen Bittel interest in commercial real estate was spurred by the realization that many of the best pieces of real estate were being held by his competition. He soon built Terranova into a world-class commercial real estate firm with offices across the United States, Europe, and Asia.
Today, Terranova has 1,100 employees worldwide and one of the top-ten largest property portfolios in Florida. Stephen Bittel has stated that “maintaining a stable, profitable balance sheet is what keeps me up at night,” which is true to his style of building a company.
Additional information about Bittel can be found on https://www.e-architect.com/miami/stephen-bittels-terranova-coral-gables-miracle-mile