MIAMI — A joint venture consisting of The John Buck Co., Florida Value Partners, BH Group and PEBB Enterprises has acquired a development site in Miami for $39.5 million. Berkadia arranged the sale. The property is entitled for the development of 301 residential units, 244,000 square feet of office space and approximately 7,000 square feet of retail. The 1-acre site, referred to as Miami Station, is located across from the Miami Central Brightline station. The Brightline is a rail system that runs between Miami and Orlando.
Senior Managing Directors Jaret Turkell and Roberto Pesant, Managing Director Scott Wadler, Director Yoav Yuhjtman, Associate Director Omar Morales and Senior Financial Analyst Jose Mota of Berkadia South Florida marketed the property on behalf of the seller, BH 18 Investments LLC and Meyers Group.