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

Property Image
SOLD
$12,500,000

Florida

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Development Site
Sold 01/10/2024
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Property Image
SOLD

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

Development Site
Sold 01/10/2024
the dealplayerscompscontact
Contact now

Summary

Asset Type:Development Site
Transaction Type:Sale

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.

Players

SM
Steve Moore
3 deals$179.3M volume
BUYER
V
Vestcor
BUYER

Details

SOLD
IMAGE: Bruno Ramos, Steve Moore, John Rood & Maritza Ramos DATE: 01/10/2024 ADDRESS: 27742 South Federal Highway MARKET: Miami ASSET TYPE: Development Site ~ ACRES: 7.7 BUYER: John Rood & Steve Moore - Vestcor SELLER: Bruno & Maritza Ramos - BEA Architects SALE PRICE: $12,500,000 NOTE: Vestcor has acquired a 7.7-acre site in Naranja, south Miami-Dade County, for $12.5 million, planning the Ambar Station project with 576 units, including 12.5% designated as workforce housing. The move aligns with the trend of developers targeting south Miami-Dade for multifamily projects due to its affordable, spacious land.

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