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The developers of Miami Worldmiddle have sold a mega-award for $18.8 billion and five billion directly to Akara Partners, which plans to build a mixed-use allocation.
Miami Worldmiddle sold 36,273 square feet of progression land to the Chicago-founded progression group, and a few other 8,227 square feet of underground land below the Metromover. The two masses in general 1 acre, according to a statement.
The assets are located along Northeast Second Avenue, between Northeast 10th Street and Northeast 11th Street, next to the Eleven Street Metromover station.
Akara Partners plans to expand its mixed-use apartments for on-site hotels, called Kenect. The assignment will come with 450 apartments, 10,000 square feet of retail and 20,000 square feet of misleading cargo, launching.
Robert Given, Troy Ballard and James Quinn of Cushman-Wakebox are the vendors.
Miami Worldcenter, spanning 27 acres, is developed through Art Falcone, Nitin Motwani and Dan Kodsi. This largest ad for real estate projects on the East Coast.
The Miami Worldmiddle World Phase Project comes with 300,000 square feet of retail, dining and entertainment space; Paramount Miami Worldmiddle’s completed condominium tower; Mahogany, a 444-unit apartment tower, is finished; and a 348-room CitizenM hotel recently under construction. It also comes with a 434-unit rental tower for ZOM Living and 500,000 square feet of Class A workspace.
Akara Partners is a true real estate investment corporation “active adult communities” and hospitality-oriented apartments for millennials, according to its website.
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