A company controlled by Miami investor Ricardo Caporal paid $5 million for a development site near Miami’s Westchester neighborhood, property records show.
AmeriLumber Hardware & Building Material Inc. sold the 1.37-acre property on Bird Road and Southwest 70th Court to Altis Ludlam Miami LLC.
The lot is just north of a development site owned by a self-storage company and west of the proposed Ludlam Trail, a 6.2-mile trail intended for cyclists and pedestrians that has yet to be built.
Caporal, founder and president of the Mattoni Group, declined to comment about his plans for the site.
In November, Mattoni paid $10.5 million for commercial units at 1010 Brickell Avenue. The Brickell-based private equity group also invested in a handful of apartment projects in West Miami that were geared toward young professionals and working families.