Developer Dan Kodsi plans a major mixed-use project with apartments, offices, and high street retail in Aventura.
Kodsi’s Miami-based Royal Palm Companies, through an affiliate, paid a reported $39.1 million for 9.6 acres on the northwest corner of Biscayne Boulevard and Northeast 213th Street.
Reuven Tako and Jacqueline Tako of North Miami sold the properties through affiliates, according to deeds and state corporate records. Greg Greer of CRR Acquisition represented the buyer and sellers.
This is just the first portion of the assemblage, as more deals are on tap for nearby parcels, with the entire site for the planned development spanning more than 10 acres, Kodsi told The Real Deal. Royal Palm Companies could enter joint venture partnerships for the development.
Kodsi declined to name potential project partners or the total purchase price for all of the lots, only saying that the total project’s value would exceed $500 million.
The overall site currently consists of land and small residential buildings that Aventura-based Rieber Developments succeeded in getting rezoned to allow for 1.3 million square feet of mixed-use development, Kodsi said.
Source: The Real Deal
