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The plan is to take a 5,000-acre property that GL Homes owns adjacent to the new city of Westlake and shuffle 1,277 units (homes approved for construction but that haven’t been built yet) and move the units elsewhere.
Amanda Montanez and Tom Capocefalo of Savills represented the buyer, BF Aerospace, in the Sunrise building transaction.
The site contains 66 existing units positioned directly on Ninth Street in the Little Havana density overlay, allowing for high-density development.
The project, called The District in Davie, is expected to cost approximately $1 billion.
ONE Sotheby’s International Realty Global Commercial Director Manny Chamizo III, the exclusive sales representative for Merrick Manor’s 20,000 square feet of prime ground-floor commercial space, brokered the sale.
Memorial Healthcare System paid $49 million for the property with plans to redevelop the property into “a wellness hub.”
This is the firm’s second development site acquisition in greater downtown Miami within a period of eight months.
An estimated $566 billion of debt maturities are coming due across the sector over the next five years.
Jordan Todd of United Realty Group represented Universal Chillers. Michael Waite and James Armstrong IV of The Easton Group represented the landlord, Seagis Property Group. Ronald Marrero of Seagis also worked on the deal.
The property consists of 1.61 acres of land and a 13,986-square-foot medical office that will be Blue Cloud Pediatric Surgery Center’s newest Florida location.
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