MIAMI-Land in Midtown Miami just traded hands as the next round of development gets underway in the Magic City. Midtown Opportunities LLC, a private investment group, just acquired 22 acres in the 56-acre development of Midtown Miami from Manhattan-based Midtown Equities.
The deal includes 16 acres within Midtown Miami and the six-acre, former Chiquita Banana facility bordering the $2.3 billion mixed-use project. Miami-based developer Alex Vadia will lead the next round of development under the Midtown Development, LLC banner.
HFF executive managing director Manuel de Zarraga and director Ike Ojala represented Midtown Equities in arranging the deal. Financial terms of the deal were not disclosed.
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