A 25.5-acre development site located at the Southeast Corner of Southwest 112th Avenue and Southwest 248th Street in Cutler Bay, FL, was sold for $29.81 million. The asset includes plans for a 330-unit apartment development by Kolter Group and an 85,000-square-foot retail project anchored by Publix, facilitated by the recent sale from Baptist Health South Florida.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $29,810,000
• Buyers: Bobby Julien - Kolter Group; Jonathan Martin - AEW Capital Management
• Seller: Bo Boulenger - Baptist Health South Florida
• Lender: Santander Bank

The transaction highlights key participants in the deal, with Bobby Julien representing Kolter Group, while Jonathan Martin represents AEW Capital Management. The financing for the retail component was provided by Santander Bank, as Baptist Health South Florida proceeds to monetize surplus land to facilitate multifamily and commercial redevelopment efforts.