Ram Realty, Pinnacle pay $15M for multifamily development site near Aventura Mall
Ram Realty Advisors and Pinnacle paid $15.4 million for a multifamily development site steps from the future Brightline station near Aventura Mall, marking a rush to build near major transit stops.
The duo scooped up 2.2 acres of land at 19640 West Dixie Highway in the Ojus neighborhood in unincorporated Miami-Dade County, with plans for a 285-unit apartment building that will include 36 workforce housing units, according to a joint Ram and Pinnacle news release.
CK Prive Group 196 LLC, managed by Bruno Bloch, sold the land, records show.
The Roger Fry Architects-designed building will rise 15 stories on the east end fronting West Dixie Highway, taper down to eight stories in the center and drop to four floors on the west side, the release says.
The apartments will include studios and one- to three-bedroom units. Kitchens will include quartz countertops, tile backsplashes, built-in islands and stackable washers and dryers. The bathrooms will have bathtubs and walk-in showers with frameless glass doors, according to the release.
Building amenities will include a pool, business center, gym, clubroom and a courtyard garden.
Construction is expected to start in the fourth quarter of this year.
Ram Realty Advisors LLC acquires and develops retail, multifamily, and mixed-use properties in select high-growth markets throughout the Southeast. The investments are capitalized by Ram-sponsored discretionary private equity funds and institutional co-investment vehicles. Since 1996, Ram has deployed in excess of $3.5 billion of capital. Ram and its predecessor entities were founded in 1978. The company is headquartered in Palm Beach Gardens, Florida, and has offices in Tampa, Florida; Charlotte and Chapel Hill, North Carolina; and Nashville, Tennessee. www.ramrealestate.com
On behalf of Ram Realty Advisors:
Alchemy Communications Group
office: 561.935.9953 ext. 101
Vice President – South Florida
Ram Realty Advisors