Vestcor Acquires 7.7-Acre Naranja Site In South Miami-Dade For $12.5M

A 7.7-acre development site located at 27742 South Federal Highway in Naranja, south Miami-Dade County, has been sold for $12,500,000. The buyers, John Rood & Steve Moore from Vestcor, acquired the property from Bruno & Maritza Ramos of BEA Architects.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $12,500,000
• Market: Miami
• Address: 27742 South Federal Highway

Vestcor plans to develop the site, named Ambar Station, into a multifamily project with 576 units. The project will include 12.5% of the units designated as workforce housing, aligning with the trend of developers targeting south Miami-Dade for affordable and spacious land for multifamily projects.