Developers pay $15M for Miami River mobile home park
The seller bought the property for $2M in 2000
ROVR Development and its partner paid $15 million for a mobile home park along the Miami River.
A company affiliated with Raul and Michael Nunez sold the property at 2750 Northwest South River Drive. Raul Nunez is a manager of A+ Mini Storage, according to his LinkedIn account. A+ has 10 locations throughout South Florida.
Michael Nunez, president of A+, died earlier this month, according to Inside Self-Storage. The Nunezes bought the property in 2000 for $1.6 million.
A company tied to Coral Gables-based ROVR Development received a 66.6 percent interest in the property, while a trust for the Leviant family of New York received a 33.3 percent ownership. ROVR is run by Oscar Rodriguez and Ricardo Vadia.
Leviant patriarch Jacques Leviant died at age 96 in 2018, according to an obituary. He founded the ICD Group of companies, what is now a global manufacturer and distributor of specialty materials. The trustees of the Leviant trust are William D. Zabel, founding partner of the firm Schulte Roth & Zabel, and Alexandre J. Leviant, CEO of ICD Group.
ROVR and Zabel did not respond to requests for comment regarding plans for redevelopment.
The mobile home park, called Paradise, battled with local officials last year, according to published reports. As of September 2019, the park housed 35 mobile homes, and faced code violations including illegal alterations and unsafe conditions.
Earlier this year, a partnership involving ROVR closed on a $53 million loan for a high-rise rental tower in downtown Miami that counts retired baseball superstar Alex Rodriguez among its investors.
ROVR is also a partner with the Related Group on The District at 225 North Miami Avenue in downtown Miami. The proposed 37-story mixed-use project would have 343 residential units and nearly 2,300 square feet of ground-floor retail space. ROVR also developed the Fairchild, a boutique bayfront condo project in Coconut Grove.