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South Florida

Miami company buys undeveloped land for $12.5M

A large undeveloped site in southern Miami-Dade County changed hands for $12.5 million.

Cosmopolitan Center of Miami acquired more than 15 acres of commercial land at Southwest 138th Court and 136th Place in a transaction recorded on Wednesday, according to Miami-Dade County records. The company is managed by Mark Bryn.

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Another Miami company, 75 Acres LLC, sold the site to Cosmopolitan Center. It began assembling the portfolio in 2000. Hans Baumberger is the manager of 75 Acres.

Baumberger’s company gave Cosmopolitan Center a $6 million mortgage as part of the transaction. — Eric Kalis