Monday, November 19, 2012

HFF closes $18.5 million sale of trophy high-rise development site in Miami, FL



1300 South Miami Ave., Miami, FL
MIAMI, FL – HFF announced it has closed the sale of 1300 South Miami Avenue, a 1.29-acre mixed-use development site in Miami, Florida.

                HFF marketed the property on behalf of the seller, South Miami Ave, LLC.  Related Group purchased the development site for $18.5 million.

                The site is approved for the development of a 556-unit residential tower plus 15,049 square feet of retail space and 38,357 square feet of office space.  

Located at the intersection of Coral Way (SW 13th Street) and South Miami Avenue, the site is close to the Mary Brickell Village and Brickell Citi Centre projects as well as Interstate 95 in the Brickell financial district.

Manny de Zarraga
The HFF team of executive managing director Manny de Zárraga and director Jaret Turkell   represented   South Miami Ave, LLC, an investment group led by Miami-based Alex Vadia.

Since its inception in 1979, The Related Group, a privately-held company, has built and managed more than 80,000 condominium and apartment residences in major markets throughout Florida.

HFF’s Florida multi-housing and land group has closed more than $825 million of multi-housing transactions in the past 12 months.

Jaret Turkell
 HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF).  HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry.

 HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, advisory services, equity placement, loan sales, and commercial loan servicing. 




Contact:

Kristen M. Murphy
Associate Director
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3500 | cel 617.543.4873 | fax 713.527.8725 | 


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