The Real Deal Miami

Jeffrey Miller buys Beacon College Prep site in Opa-locka for $8.45M

The K-5 school wants to expand to serve grades sixth through eight
By Amanda Rabines | July 13, 2018 03:30PM

Jeffrey Miller and Beacon College Prep

Jeffrey Miller’s Beacon College Prep Inc. just bought a charter school it operates in Opa-locka for $8.45 million.

The deal for the school at 13400 Northwest 28th Avenue comes on the heels of the nonprofit’s application to expand to serve grades sixth through eight. In June, Miller submitted a proposal with Miami-Dade County to issue $11.9 million in revenue bonds from its Industrial Development Authority to buy and renovate the property.

Beacon College Prep currently serves students K-5 and enrolls about 400 students. The proposed improvements will increase the enrollment capacity to 760 students, according to the application.

Charter DC Opa Locka, a partnership between Aventura-based investment firm ESJ Capital Partners and MG3 Development Group, is the seller. Records show the company bought the former Florida International Academy site in 2010 for $4 million. It sits on a six-acre lot just south of State Road 916 and west of Northwest 27th Avenue.

ESJ Capital has been investing in charter schools for more than nine years and often partners with MG3. Last year the partnership sold a charter school in Tamarac for $22 million.

Miller is the managing partner of the venture capital firm Krillion Ventures. He’s also the brother of Stuart Miller, who stepped down earlier this year as CEO of Lennar Corp. and is now executive chairman of the Miami-based homebuilding company.

Jeffrey Miller is also chairman of Breakthrough Miami and board member at Ransom Everglades School and the Institute of Contemporary Art.