Arbor Management buys multifamily dev site near Aventura for $10M

290-unit project will include over 1K sf of retail

Miami /
May.May 10, 2021 03:30 PM
Arbor Management Acquisition Company heads Ivan Kaufman and Maurice Kaufman with a rendering of Aventura Park (Anillo Toledo Lopez, iStock)

Arbor Management Acquisition Company heads Ivan Kaufman and Maurice Kaufman with a rendering of Aventura Park (Anillo Toledo Lopez, iStock)

UPDATED, May 10, 5 p.m.: Arbor Management Acquisition Company paid $10.3 million for a multifamily and retail development site near Aventura.

The New York-based firm, through its AMAC Holdings III, will develop Aventura Park in joint venture with Coral Gables-based ROVR Development on 3 acres at 17990 West Dixie Highway, according to a news release. The mixed-use project will include an eight-story, 290-unit apartment building, 1,450 square feet of retail and a six-story, 435-spot garage.

The seller, Miami Beach-based development and management-leasing firm Transamerican Development, led by Albert Benalloun, bought the land in 2015 for $6.4 million, according to a deed.

Adam Tiktin of Tiktin Real Estate Investment Services represented the seller, and Adam Freeman of Coldwell Banker represented the buyer.

Arbor Management, led by Ivan Kaufman and Maurice Kaufman, is a real estate investor founded in 2012. Its other Miami-Dade County ventures include the 402-unit Biscayne 112 project, which it completed last month in an unincorporated area between Miami Shores and North Miami. AMAC scored a $69.7 million construction loan for it in 2019.

Another project on tap in northern Miami-Dade County is Rieber Developments’ 1212 Aventura, an office, senior living and retail development in Aventura that scored a $15 million loan this year.

Nearby, in North Miami Beach, Gil Dezer plans to transform the Intracoastal Mall into a mega-project with condominium towers, a hotel, offices, retail and a harbor.






    Related Articles

    arrow_forward_ios
    HFZ’s Ziel Feldman with the Shore Club (Getty, Facebook via Shore Club)
    HFZ Capital off the hook for $6M in failed Shore Club South Beach deal
    HFZ Capital off the hook for $6M in failed Shore Club South Beach deal
    Cortland CEO Steven DeFrancis and Indigo Station at 67 Southwest 12th Avenue (Cortland, Inigo Station)
    Cortland buys Deerfield Beach multifamily complex for $66M
    Cortland buys Deerfield Beach multifamily complex for $66M
    Private equity mogul Nathan Leight and the Coconut Grove property (Sotheby's, Terrapin Partners)
    Private equity mogul sells waterfront Coconut Grove estate for $48M
    Private equity mogul sells waterfront Coconut Grove estate for $48M
    Chris Lorenzen and Richard W. Gray III with Apogee at 800 South Pointe Drive in Miami Beach (LinkedIn, DJR Enterprises, Apogee Condo South Beach)
    Securities trading CEO buys Apogee condo in South Beach for $12M
    Securities trading CEO buys Apogee condo in South Beach for $12M
    TPG CEO Jon Winkelried with AC Hotel Miami Midtown at 3400 Biscayne Boulevard and the next-door Hampton Inn & Suites at 3450 Biscayne Boulevard (Hilton, Google Maps)
    Why buy one when you can take two? TPG nabs Miami AC Marriott, Hampton Inn in Edgewater for $61M
    Why buy one when you can take two? TPG nabs Miami AC Marriott, Hampton Inn in Edgewater for $61M
    Moishe Mana and one of the properties that's located on Flagler Street. (Getty, Google Maps)
    Moishe Mana expands downtown Miami assemblage with $27M purchase
    Moishe Mana expands downtown Miami assemblage with $27M purchase
    Lynd CEO A. David Lynd and Lynd Acquisition Group President Constantine Scurtis with Parc Place Apartments at 17600 Northwest Fifth Avenue in Miami Gardens (Parc Place)
    Lynd pays $41M for Miami Gardens apartments
    Lynd pays $41M for Miami Gardens apartments
    The Clevelander South Beach (Getty)
    Clevelander wins lawsuit against Miami Beach over alcohol rollback
    Clevelander wins lawsuit against Miami Beach over alcohol rollback
    arrow_forward_ios

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

    Loading...