Aztec Group Assists Berkowitz Development In $60 Million Sale Of Coral Gables Development Site

Nov 01, 2016 No Comments by

gables-station-rendering-2Aztec Group, Inc.‘s Howard Taft, Senior Managing Director, Charles Penan, Director, and Jason Katz, Vice President, assisted Berkowitz Development in the sale of a 4.3-acre, Gables Station development site to an affiliate of NP International for $60.25 million.

Gables Station is ideally located at 251 South Dixie Highway at the intersections of LeJeune Road, Ponce de Lean Boulevard and South Dixie Highway (US 1) in Coral Gables, Florida.

 

“The success of this sale is a testament to the strong investor demand for forward-thinking, mixed-use projects,” said Taft. “The site’s prime location in a residential neighborhood with strong market fundamentals; coupled with its immediate access to public transit, were important factors in securing this deal.”

Berkowitz Development acquired the site in 2005 and planned to build a vertical, big-box retail project. The buyer, NP International, plans to develop a mixed-use, transit-oriented project on the site.  This July, the buyer received conditional approval to build 526 luxury apartments, 66 hotel extended-stay units, 75,294 square feet of retail space, and a paseo with green space.

 

 

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Industry News, Miami-Dade County Multifamily, Multifamily, NA
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