BH Group, Apollo Cos. Buy Out Aventura City Center Stake

BH Group and Apollo Companies bought out Related Group’s stake in an Aventura development site slated for a mixed-use project, The Real Deal has learned.

The Aventura City Center project at 2999 Northeast 191st Street is approved for a residential tower, a hotel and 26,000 square feet of retail space. The development is situated south of the Aventura Mall and near the Brightline station.

BH and Related bought the 4.5-acre site, home to the Aventura View office building, for $51 million in 2022 and launched sales for Viceroy Residences Aventura there in early 2025.

Plans call for a 23-story multifamily building with 248 units, a 13-story Marriott-branded hotel with 153 rooms and retail space across both buildings. The office building at the site would remain.

The residential tower will feature a pool deck, fitness center, clubroom, coworking space, spa and pet amenities. The hotel will include its own pool and fitness center, along with a rooftop lounge, lobby bar and meeting space.

When the site was purchased in 2022, plans called for Class A offices, luxury residences and ground-floor retail anchored by restaurant space atop the parking garage.

Coconut Grove-based Related, led by Jorge Pérez and his sons, Jon Paul and Nick Pérez, couldn’t be reached for comment.

Led by Isaac and Liat Toledano, Aventura-based BH has partnered with Related on several South Florida developments, including Icon Aventura, The Ritz-Carlton Residences in Pompano Beach, Icon Beach Waterfront Residences in Hollywood Beach, The Ritz-Carlton Residences in West Palm Beach and Rosewood Residences West Palm Beach.

Elsewhere in Aventura, Adam Neumann and Canada Global’s Flow multifamily project at the Aventura Corporate Center was approved in June for increased density and height.

Newly formed real estate firm GrowIn Group is also making its development debut in the area with plans for two 32-unit condo buildings in the Ojus neighborhood.