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

Oleta Partners, LLC
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 Solē 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.
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John C. Sumberg

John C. Sumberg

Managing Partner
Stacia Wells

Stacia Wells

Partner
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Experience
Oversaw the servicing of over $6 billion worth of hotel loans involving sales and loan assumptions, restructurings, mergers, deeds-in-lieu of foreclosure, forbearances and other workouts, changes in franchises/ flags, operating/ master lease issues, private equity takeovers, changes in management, e...
Experience
Counsel to debtor in possession in the chapter 11 case of Cabi SMA Tower I LLLP, the developer of a proposed $60 million mixed-use facility on a 2.73-acre entire city block in the Brickell area of Downtown Miami. The case was an extremely contentious chapter 11 which resulted in the confirmation of ...
Experience
Handled the sale of over 2,000 REOs, with aggregate purchase prices in the billions of dollars, through both the negotiation and closing of individual sales and the structuring and sale by auction of multiple properties. The largest was approximately $216 million, which was the sale of a major hotel...
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