Related sells 16.2-acre site for $19.8M

Related CEO Jorge Perez
Related CEO Jorge Perez

The Related Group sold a 16.2-acre site in Miami-Dade to a Texas developer for $19.8 million.

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A Related affiliate sold the property located west of Northwest 97th Avenue on the south side of State Road 836 to DD Doral View 2, according to the South Florid Business Journal. The buyer is affiliated with Rockpoint Group, a Dallas-based real estate private equity firm.

In 2012, Related Group paid $20.5 million for 33.75 acres that includes the recently sold property. It developed 96 apartments on the site and the property it sold has a similar zoning designation. [South Florida Business Journal] – Christopher Cameron