Aventura development site sells for $13M
A potential mixed-use development site in Aventura sold for a combined $12.67 million in four deals.
Medical District Developments LLC, managed by Bernardo Rieber of Shalev Development Group, was the buyer of 1.22 acres of vacant land and older single-family homes. Vaster Loans provided a $11.07 million mortgage to the buyer.
One purchase was made from Presidential Aventura Properties, managed by Roland Faith. The $4.15 million deal covered the 16,583-square-foot site between Biscayne Boulevard and Northeast 29th Court, across from Northeast 213th Street.
Three purchases were made from Jasmin Investments, managed by Jacqueline Tako and Reuven Tako, for a combined $8.52 million. They covered 36,444 square feet at 2901 and 2919 N.E. 213th St.
Earlier this year, Medical District Developments paid a combined $7.45 million for 33,000 square feet of land at 2840, 2885 and 2890 N.E. 214th St. That means Rieber’s company now owns nearly two acres of land fully covering the block.
Rieber said he is the investor/developer in the project, which will be called 1212 Aventura. It will have 160 senior living apartments, 38,000 square feet of office space, and 38,000 square feet of commercial, including a food hall and market place. They will also extend Northeast 214th Street to connect with Biscayne Boulevard, he said.
Cervera Real Estate will sell the office condos and commercial condos, while the developers will rent out the senior living units, he said. He’s working with general contractor Winmar-Coastal and planning firms Kimley-Horn and Fortin, Leavy, Skyles. Saul Ewing Arnstein Lehr is helping the developer set up a fund with the EB-5 visa program, Reiber said.
Rieber said they will present the plans to the city this summer.
“At 1212 we see the future of senior living within mixed use developments where tenants can interact, come down to the market place, and eat or entertain, on top of the full amenities offered in the facility,” Reiber said. “Our proposition is for an even younger adult that will move with us and enjoy a wellness approach that will allow him to live longer and healthier while having the time to develop a strong social network.”
This property is directly east of where Shalev Development Group is building Ivory 214, which will have 10,942 square feet of retail, 38,191 square feet of medical offices, 100 hotel rooms in Tapestry by Hilton and 313 parking spaces. It should be completed in November, according to the developer’s website.
Just to the south, a medical office development site is listed for sale.