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Naftali Group and Care Real Estate Management paid $40.5 million for a 1.3 million-square-foot site in Miami Worldcenter to develop two residential towers.

Partners pay $41M for Site in Miami Worldcenter, Plan Two Residential Towers

Naftali Group, in partnership with Cara Real Estate Management, has acquired a 1.3 million-square-foot site in Miami Worldcenter for $40.5 million to develop two residential towers.

Colliers’ Mika Mattingly represented both Naftali and seller Akara Partners in the off-market transaction.

According to Naftali Group, the 27-acre Miami Worldcenter is the second largest active private development in the US with $4 billion in total investments. When complete, Miami Worldcenter will feature a mix of residential, commercial and hospitality complemented by a 300,000 square feet of retail, restaurant and entertainment.

“Following an extensive search for the right location, we chose this property in Miami Worldcenter because it represents a truly unique opportunity to develop in the downtown Miami urban core and is a testament to our confidence in Miami’s emergence as a major gateway city and the epicenter of arts, culture, entertainment and business in South FL,” said Miki Naftali, CEO and chairman of Naftali Group.

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Naftali Group’s Naftali

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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