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AMAC, ROVR Score $67M Construction Loan For Aventura Park Multifamily Project

AMAC and ROVR got a jump start on their planned multifamily project near Aventura in the form of a $67 million construction loan.

New York-based AMAC and Coral Gables-based ROVR are developing the eight-story Aventura Park building with 290 units at 17990 West Dixie Highway, according to a news release from the lender, Ocean Bank. The property is along the Oleta River, across from Greynolds Park.

Eddie Diaz led the Ocean Bank team that arranged the financing.

Aventura Park, designed by the architecture firm Anillo. Toledo. Lopez, will include a pool, gym and spa, as well as a six-story building with a 439-space garage. Medley-based Delant Construction is the general contractor.

Construction is expected to be completed in early 2024, according to the release.

An entity tied to AMAC bought the almost 3-acre vacant development site last year for $10.3 million.


Source:  The Real Deal

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AMAC Acquires 1800 Alton For $32.5M, Showcases Strength In Miami Retail

AMAC has acquired 1800 Alton, a trophy urban retail center in Miami Beach for $32.5 million from Saber 1800 Alton, LLC.

Acquired in partnership with Daniel Neary, a Miami Beach real estate developer, the property is prominently located in Sunset Harbour at the intersection of Alton Road and 18th Street with great visibility on one of Miami Beach’s busiest intersections.

Designed by award-winning, Miami-based architect Kobi Karp and built in 2018, the five-story urban center contains 31,840 square feet of class “A” retail and 136 parking spaces across the three-level parking garage. The property currently contains two long-term tenants and two vacant spaces on the ground floor measuring 2,233 and 1,803 square feet.

“We are thrilled to complete the acquisition of the class A property developed by Saber in one of Miami’s most desirable locations,” said Maurice Kaufman, Founding Principal at AMAC. “We are committed to the long-term future of Sunset Harbour and have already received strong interest in the property.” 

1800 Alton is ideally positioned in Sunset Harbour, the vibrant neighborhood at the gateway into South Beach, with many high-end residential buildings, retail spaces, and the Sunset Harbour Marina.

Jordan Gimelstein and David Spitz of the Koniver Stern Group were the sole brokers on the sale of 1800 Alton Road. Jordan and David are the Directors of the Investment Sales division at Koniver Stern Group and have been involved in many high street transactions throughout the Urban Core of Miami and Miami Beach.


Source: REW

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