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South Florida

Joint venture formed for Miami apartment project

Michael Adler
Michael Adler

The Adler Group and 13th Floor Investments formed a joint venture to acquire a long-term ground lease and eventually construct an apartment building near Miami’s Dadeland Mall.

Adler and 13th Floor announced the ground lease purchase and development plans in a written statement released on Tuesday. The companies did not disclose the purchase price. The property is adjacent to the Dadeland North Metrorail station and Dadeland Station retail complex.

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The Class A apartment building is currently being designed.

“The Dadeland market is a unique community due to its location, infrastructure and businesses,” Adler CEO Michael Adler said.

Miami-based 13th Floor is currently developing residential projects in Miami-Dade, Broward and Collier counties. — Eric Kalis

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DadelandReal Estate Companies