Buyer Mill Creek Residential plans to build a 36-story, 428-unit apartment high-rise on the property at 230 SW 2nd Avenue
Berkadia announces it has arranged financing for a partnership to develop a site near the Miami River that is located in a Qualified Opportunity Zone (QOZ).
Senior Managing Directors Jaret Turkell and Roberto Pesant, along with Associate Omar Morales and Jose Mota of Berkadia Miami, marketed the 0.9-acre parcel at 230 SW 2nd Avenue on behalf of Adler Development. Mill Creek Residential is entering the joint venture with Adler Development with plans to build “Modera Riverside,” a 428-home, 36-story high-rise at the nexus of three of Miami’s most dynamic neighborhoods: Downtown Miami, Brickell, and the Miami River District.
“This represents an amazing development opportunity in one of the fastest growing submarkets in the country,” said Turkell.
When completed in 2024, Modera Riverside will offer best-in-class high-rise homes with exceptional access to employers, schools, and hospitals, and Miami International Airport. The property will offer residents over 40,000 square feet of indoor and outdoor amenity space with Class A finishes, including a resort-style rooftop pool deck, clubroom with expansive views, state-of-the-art fitness center, game room/media lounge, meditation garden and co-working space. The property offers exceptional visibility from and easy access to I-95, which offers quick connections to the Florida Turnpike, Dolphin Expressway, and I-395 to Miami Beach.
About Berkadia®:
Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets. To learn more about Berkadia, please visit www.berkadia.com.
