South Florida Business Journal, By: Brian Bandell
Permission to Re-post from Carlos Rosso of the Related Group.
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The Related Group sold a 16.2-acre site in the Fontainbleau area of western Miami-Dade County to a Texas developer for $19.8 million.
RD Fontainbleau Phase II, an affiliate of the Miami-based residential developer, sold the property west of Northwest 97th Avenue on the south side of State Road 836 to DD Doral View 2. The buyer is affiliated with Rockpoint Group, a Dallas-based real estate private equity firm. Related Group paid $20.5 million in early 2012 for 33.75 acres that includes the property that was recently sold. It developed 96 apartments on the site that it has retained. The property it sold has a similar zoning designation. |
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