Miami — The Richman Group Development Corp. (Richman), a subsidiary of The Richman Group of Florida Inc., has acquired a 2.2-acre, fully approved land site in Miami for the development of a mixed-use project.
Jaret Turkell and Maurice Habif of HFF marketed the land on behalf of the seller, Encore Housing Opportunity Fund, one of three funds operated by Encore Capital Management.
Additionally, Turkell, Habif and Chris Drew of HFF assisted Richman in identifying and securing Invesco Real Estate as its joint venture development partner. The development site is located at 2701 Biscayne Blvd. and will be home to 330 units of residential and retail.