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| 2701 Biscayne Boulevard Development Site, Edgewater District Near Downtown Miami, FL |
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| Jaret Turkell |
MIAMI, FL – Holliday
Fenoglio Fowler, L.P. (HFF) announced it has represented a fund operated by
Encore Capital Management in the sale of a 2.2-acre, fully-approved land site
in Miami.
In addition to the sale, HFF assisted the
purchaser in raising joint venture equity for the development of a 330-unit
mixed-use multi-housing and retail project on the site.
HFF marketed the land on
behalf of the seller, Encore Housing Opportunity Fund, one of three funds
operated by Encore Capital Management.
The Richman Group Development Corporation (Richman), a subsidiary of The
Richman Group of Florida Inc., purchased the site free and clear of debt.
Additionally, HFF assisted
Richman in identifying and securing Invesco Real Estate as their joint venture
development partner.
The development site is
located at 2701 Biscayne Boulevard with
more than 200 feet of frontage along Miami’s coveted Biscayne Boulevard in the
Edgewater District.
The HFF investment sales
team representing Encore Housing Opportunity Fund was led by managing director Jaret Turkell and associate director Maurice Habif.
HFF’s equity placement
team was led by Turkell and Habif along with managing director Chris Drew.
“This property is
positioned in the heart of Edgewater at the intersection of Miami’s most
exciting neighborhoods: Wynwood, Midtown Miami and the Design District,” said
Turkell. “The long-term growth prospects
are phenomenal for this area as young renters flock to this area – it has
rapidly become the trendiest part of town.”
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | www.hfflp.com
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