The Real Deal Miami

Spanish investor snags Brickell-area property

Company tied to MDR pays $10.5M for multifamily parcel
February 18, 2014 09:45AM

saleA company tied to Spanish investor MDR Americana has acquired a Brickell-area property for $10.5 million, The Real Deal has learned.

Brickell Land Ventures, which shares a mailing address with MDR’s Miami office, purchased the nearly 37,000-square-foot parcel at 1020 Southwest First Avenue last Wednesday, according to Miami-Dade County records. The county recorded the transaction on Friday.

Manquehue Development is the seller. The company is managed by Agustin Salas. It paid $6.3 million for the property in January 2006.

A 44-unit apartment building was previously located on the property.

Another MDR company owns the future site of the Bond at Brickell condo project. The company is partnering with Rilea Group on the development. — Eric Kalis