$4 Billion, 185-Acre Development Sol� Mia Miami in North Miami

Representation of Oleta Partners, LLC, a joint venture comprised of affiliates of the LeFrak Organization and Turnberry Associates, in the successful negotiation of the long-term ground lease and complicated leasehold financing for a 185-acre brownfields redevelopment site in the City of North Miami, Florida. The client intends to redevelop the property as a $4 billion multi-use master development, known as Sol Mia Miami. The current City-approved plans include over 4,000 multifamily and residential units; approximately 1,200,000 square feet of retail commercial mixed-use space, a 4-star, 150-room hotel and over 7.2 acres of open space park, including sports facilities, playgrounds, and a 13.7-acre passive park.