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| Larry Stockton |
MIAMI, FL - Colliers International South Florida is pleased
to announce that Larry Stockton, Alex Morcate, CCIM and Jeff
Resnick have closed on another high density land site in Miami's Central
Business District.
The team represented the seller, Riverfront Parcel 5 LLLP
and Riverfront Parcel 6 LLLP, both controlled by Integra Investments, on the
sale of two sites totaling 2.97 acres located within the Miami River Village
community.
The land sold for $256 per square foot, or $33.1 million, in
a very competitive bidding process.
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| Alex Morcate |
The buyers, MRP Parcel 5, LLC and MRP Parcel 6, LLC, both
controlled by KAR Properties, are now well on their way toward completing their
vision for Miami River Village, the CBD's only gated waterfront community, by acquiring
all of the remaining vacant parcels therein.
The three sites now owned by KAR, including their first
acquisition of the 1.79-acre CIMA site last year, are approved in perpetuity
for 1,426 units in three high-rise towers.
KAR's first tower will be an ultra-luxury 800 foot tall
condominium on the water, for which they have hired a world renowned architect
to be named shortly.
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| Jeff Resnick |
This is the Colliers team's 13th closing in Miami's CBD of
high density land, including the majority of the land assembled for Brickell
CityCenter.
According to Larry Stockton, the team has another large
multifamily site in the Brickell market currently under agreement and a smaller
mid-rise site they will be bringing to market shortly.
For a complete copy of the company’s news
release, please contact:
Crystal Proenza
Vice President of Marketing and Culture
Colliers International South Florida
Commercial Real Estate Services
Tel: 305 476 7138
Email: crystal.proenza@colliers.com
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