Oak Row Equities has recently acquired a small office property situated near MiamiCentral Station, with plans to construct a 45-story multifamily tower. The property was obtained from The Citadel Arena Corp. for $38.5 million through off-market channels and utilizing seller financing in addition to existing income streams. Leading architecture firm ODP has been enlisted to design the project, while Colliers Mika Mattingly and Cecilia Estevez of the South Florida Urban Core Team & Vincent Pastore of Pastore and Associates represented the seller in this transaction.
The development, known as First & Fifth, spans over 700,000 gross square feet and will feature 500 high-quality multifamily units with an extensive range of amenities. Conveniently located across from MiamiCentral Station’s entrance – which serves as a connecting point for Brightline, Metrorail, Tri-Rail,and Metromover – First & Fifth is set to become one of the most sought-after residential destinations in the area.
With more than one billion dollars worth of assets under its belt along with ongoing development projects spanning over three million square feet within class-AAA real estate segment,Oak Row Equities continues its impressive growth trajectory.
