Miami investors score EB-5 funding for charter school in south Miami-Dade

Investors paid $469k for the 3-acre lot last year

TRD MIAMI /
Feb.February 16, 2018 04:35 PM

Rendering of AcadeMir Preparatory School Academy (Credit: GreenAccess)

Investors Mario and Ramon Castellanos just scored $5.5 million in EB-5 funding to build a charter school in south Miami-Dade, property records show.

The Miami-based investors paid $469,000 for the 3-acre property at 12400 Hainlin Mill Drive in March. Records show the charter school chain AcadeMir, managed by Superior Charter Schools Services, will be leasing the property. The charter school manager has at least four other schools operating under the AcadeMir name in Miami, according to its website.

The lender, EB-5 Charter School Phase 37 LP, is an affiliate of the Jupiter-based EB-5 investment facilitator, GreenAccess. A representative of GreenAccess was not immediately available to comment.

The planned K-8 charter school will accommodate up to 650 students, according to GreenAccess’ website. The school is slated to open in August, in time for the new school year. It sits just south of 216th Street on the west side of South Dixie Highway, near Southland Mall.

The lender has also worked with MG3 Development Group to build a 153,000-square-foot charter school near Delray Beach. Under the EB-5 program, foreign investors (as well as their immediate family members) can invest $500,000 in a job-producing project in exchange for an immigration visa. The U.S. government only issues about 10,000 new EB-5 visas per year.


Related Articles

arrow_forward_ios
Bottom row: Nick Sharp, Felix Bendersky and Jaime Sturgis; top row: Mayor Dale Holness and Mayor Carlos Gimenez (Instagram/threefoldcafe, F&B, Linkedin, Office of the Mayor, Twitter)

Restaurateurs to protest restrictions in Miami-Dade. In Broward, it’s a different story

Restaurateurs to protest restrictions in Miami-Dade. In Broward, it’s a different story
Avra Jain and Vagabond Hotel (Credit: Google Maps)

Miami-Dade judge tosses Avra Jain’s $15M lawsuit against former attorneys

Miami-Dade judge tosses Avra Jain’s $15M lawsuit against former attorneys
Miami-Dade cracks down on social distancing at construction sites

Miami-Dade cracks down on social distancing at construction sites

Miami-Dade cracks down on social distancing at construction sites
Mayor, Miami-Dade County, Carlos A. Giménez (Credit: Ryan Holloway/ Armando Rodriguez Miami-Dade County Photographers)

Miami-Dade orders all non-essential businesses closed due to coronavirus

Miami-Dade orders all non-essential businesses closed due to coronavirus
Miami-Dade Permitting and Inspection Center

Coronavirus case shuts down Miami-Dade permitting center until Monday, property appraiser closes office to public

Coronavirus case shuts down Miami-Dade permitting center until Monday, property appraiser closes office to public
Avi Bittan and the site at 152nd Street and 97th Avenue (Credit: Google Maps)

Senior living developer buys dev site in south Miami-Dade

Senior living developer buys dev site in south Miami-Dade
2965 West Corporate Lakes Boulevard and Black Creek Group CEO Raj Dhanda (Credit: Google Maps, Blue Vault)

TIAA sells Weston warehouse for $33M

TIAA sells Weston warehouse for $33M
The Eureka Drive site, Deme Mekras, Elliot Shainberg

Garco buys Miami-Dade land for multifamily project

Garco buys Miami-Dade land for multifamily project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...