Linkvest Capital, Indigo Properties Sell 5-Acre Development Site For $11.55M
Linkvest Capital and Indigo Properties announced that their joint venture, Linkvest HG, LLC, has closed the $11.55 million sale of a five-acre parcel in Hialeah Gardens, Florida. The transaction marks the first of two planned dispositions from the joint venture’s 8.03-acre site at NW 138th Street and NW 107th Avenue. Flightway Twenty Two, LLC acquired the eastern five-acre parcel, which fronts NW 138th Street and is zoned B-1 for neighborhood business uses.
Day Pitney LLP represented Linkvest HG, LLC in the sale. Horizon Properties of Miami Inc. served as broker for Linkvest HG, LLC, while Costa Realtors served as broker for Flightway Twenty Two, LLC.
Linkvest Capital and Indigo Properties acquired the 8.03-acre site for $6 million in August 2023. Rather than pursuing vertical construction, the partners implemented a comprehensive horizontal development program to prepare the land for sale and future vertical development. Over the following three years, the partners advanced environmental remediation, soil improvements, site preparation, entitlements and infrastructure planning, ultimately creating two independently marketable parcels.
The joint venture is also under contract to sell the remaining three-acre western parcel, located at the signalized corner of NW 138th Street and NW 107th Avenue, to a national fuel and convenience retailer. The second transaction is expected to close in the first quarter of 2027, subject to site plan approval.
“When we acquired the site, we recognized that its complexities also presented an opportunity to create meaningful value,” said Camilo Niño, founding partner and CEO of Linkvest Capital. “Our strategy was to address those complexities at the land level and position each parcel for its next phase of development. This first closing is an important milestone in the execution of that strategy.”
“We have been privileged to advise the ownership group on this project from its inception, beginning with the acquisition of the property and continuing through every stage of development to this transaction,” said Daniel Diaz Leyva, partner at Day Pitney. “Not long ago, this was a blighted, vacant parcel at one of the most prominent corners in Hialeah Gardens. Our client secured a brownfield designation and worked collaboratively with DERM to remediate the property, positioning it to become a gateway for new investment.”
“This project is a textbook example of what thoughtful real estate development can accomplish,” Diaz Leyva added. “Taking an underutilized, environmentally challenged property and transforming it into a productive asset creates economic activity and long-term value for the surrounding community. Sites like this are often passed over, but for owners with the right team and a clear vision for a property’s highest and best use, they can be among the most compelling opportunities in the market.”
The partners completed environmental remediation and site work under the oversight of the Miami-Dade County Department of Environmental Resources Management (DERM). The partners also secured tentative plat approval for the full 8.03 acres, advancing the entitlement process for both parcels.
Subject to the closing of the second transaction, Linkvest Capital and Indigo Properties expect to exit the investment approximately 23 months ahead of their original business plan.
Located within the Hialeah Gardens commercial corridor, the site benefits from proximity to several of South Florida’s primary transportation arteries, including the Florida Turnpike, I-75 and Okeechobee Road. The surrounding trade area includes national retailers such as Publix, Home Depot, TJ Maxx, HomeGoods and Burlington, while access to the Florida Turnpike and Okeechobee Road positions the site to serve continued residential and commercial growth across Hialeah Gardens and northwest Miami-Dade.
Key Facts
- Property: Eastern five-acre parcel of an 8.03-acre development site
- Location: NW 138th Street and NW 107th Avenue, Hialeah Gardens, Florida
- Asset Type: Development land zoned B-1 for neighborhood business uses
- Transaction Type: Land sale
- Buyer: Flightway Twenty Two, LLC
- Seller: Linkvest HG, LLC, a joint venture of Linkvest Capital and Indigo Properties
- Size: Five acres
- Price: $11.55 million
- Brokers: Horizon Properties of Miami Inc. represented the seller; Costa Realtors represented the buyer
- Other Notable Details: Environmental remediation and site work completed; tentative plat approval secured for the full 8.03-acre site. The remaining three-acre parcel is under contract, with closing expected in Q1 2027, subject to site plan approval.