Diego Ojeda's Rilea Group Acquires 0.7-Acre Miami Development Site From John Bogdasarian

The development site located at 94 Northeast 29th Street in Miami has been sold for $21 million. The 0.7-acre property was acquired by Diego Ojeda of the Rilea Group from John Bogdasarian of Promanas. The sale includes plans for a 12-story development featuring 146 furnished units with prices ranging from $600,000s, set to be completed by late 2026.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $21,000,000
• ACRES: 0.7
• Buyer: Diego Ojeda - Rilea Group
• Seller: John Bogdasarian - Promanas
• Lender: Altamar Financial Group

Miami-based developer Diego Ojeda of the Rilea Group purchased the property from John Bogdasarian of Promanas, securing an acquisition loan from Altamar Financial Group. The transaction involves plans for a 12-story development set to commence later this year, featuring 146 units with prices starting in the $600,000s.