The development site consists of three parcels located at 1751, 1757, and 1775 Collins Avenue in Miami Beach, covering a total of over 3 acres. Nahla Capital, led by buyer Genghis Hadi, acquired the site for approximately $270 million. The transaction involved notable sellers including Michael Shvo from SHVO, Scott Soucy from Deutsche Finance America, and Axel Uttenreuther from Bayerische Versorgungskammer.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $270,000,000
• Buyer: Genghis Hadi - Nahla Capital
• Seller: Michael Shvo - SHVO; Scott Soucy - Deutsche Finance America; Axel Uttenreuther - Bayerische Versorgungskammer
• Address: 1751, 1757 & 1775 Collins Avenue
• Market: Miami Beach
• Brokerage: Adam Spies & Marcella Fasulo - Newmark

Newmark's Adam Spies and Marcella Fasulo facilitated the sale, representing the parties involved. The acquisition marks a significant move in the Miami Beach market, highlighting Nahla Capital's investment activities within the region.