A 1.21 acre development site has been acquired by Empira Group for $18,000,000. The site is situated at 912 to 921 East Ponce de Leon Boulevard in Coral Gables. Plans for the development include a multifamily tower that will feature 161 luxury residential units along with 248 parking spaces across 12 stories. The project is set to include various amenities such as a fitness center with a yoga studio, a pool deck, and an outdoor lounge.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $18,000,000
• Address: 921 East Ponce De Leon Boulevard
• Market: Coral Gables
• Buyer: Rafael Aregger, Branco Kuzmanovic, Michael Marrero - Empira Group
• Seller: Roberto Trapaga - Alliance Starlight
• Buyer’s Representative: Bobby Berrido - Fausto Commercial Realty Consultants

Bobby Berrido, CCIM, represented Empira Group in the transaction, facilitating the acquisition of the development site. The involvement of Alliance Starlight was through Roberto Trapaga, the seller in this deal.