Edward Abbo Of The Apollo Companies And Isaac Toledano Of BH Group Acquire Office Building In Aventura For $53M

The property involved in this transaction is an office building along with redevelopment parcels suitable for residential, hotel, and retail use, located at 2999 Northeast 191st Street in Aventura, Florida. The sale price for this transaction was $53,000,000, with a total square footage of 121,265 and a price per square foot of $437.

Summary of transation details:

• Property Type: Office Building + Redevelopment Parcels For Residential, Hotel And Retail
• Transaction Amount: $53,000,000
• Buyer: Edward Abbo - The Apollo Companies + Isaac Toledano - BH Group
• Seller: The Related Group
• Broker: Barrett Wolf - Wolf Co

This transaction was a joint venture and acquisition facilitated by Wolf Co Real Estate Brokerage & Investments. The buyers, Edward Abbo and Isaac Toledano, plan comprehensive redevelopment, which includes various developments like the renovation of the existing office building, a new multifamily residential component, a hotel, and retail and restaurant activations, totaling 26,500 square feet for the Aventura City Center. Development plans have received approval and ownership is engaging with the City of Aventura for further progress.