MIAMI--North Miami is in for a commercial real estate transformation. And Richard LeFrak is one of the masterminds behind it.
Oleta Partners, a partnership between LeFrak and Turnberry Associates, purchased fee title to 55 acres of the 183-acre SoLe Mia development on October 30from the City of North Miami The purchase price: $22 million, of which the City of North Miami Financed 80% by its own request.
"We continue to work toward building a world-class mixed-use community within the City of North Miami," says Michael Tillman, president of Oleta. "This is just another milestone in our efforts towards making SoLe Mia and North Miamiprime destinations in South Florida."
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