A fund controlled by David Cohen and Liam Krahe acquired a 35,544-square-foot development site comprising six contiguous parcels in downtown Miami for $20.9 million. The fund is focused on acquiring and developing land in high-growth, high-density submarkets of South Florida for ground-up mixed-use projects.

The six-parcel assemblage forms a single development site located in Miami’s Arts & Entertainment District. The fund plans to immediately develop the land into a mixed-use project consisting of luxury residential multifamily apartments and retail. Construction is expected to begin in early 2026.

The development team includes a joint venture between McCaffery Interests, Inc., and Grandview Development Co..

The seller was the Genting Group, a leisure and hospitality corporation. Salomé Bascuñan of Bilzin Sumberg and Alfonso Jaramillo of Fortune Christie’s International Real Estate represented the seller.