MIAMI – April 19, 2023 – Danielle Gonzalez, a Real Estate Practice shareholder in the Miami office of global law firm Greenberg Traurig, P.A., advised Empira Group in its acquisition of a multifamily development site at 901 SW Third Ave. and 244 SW Ninth St. in the Brickell area.
The acquisition of the former Empire Brickell site, which closed April 17, is Empira’s second acquisition of a multifamily development site in greater Downtown Miami within an eight-month period. Empira, a Switzerland-based institutional real estate investment firm, recently entered the Miami market with plans to expand across Florida and the Sun Belt amid strong demand for high-quality, multifamily housing.
Gonzalez represents Empira in connection with its U.S. expansion, including all aspects of deal structuring, negotiating, and transaction management.
“Greenberg Traurig is proud to support Empira on another exciting project that will bring much in-demand multifamily housing to Brickell, one of Miami’s fastest-growing neighborhoods,” Gonzalez said. “This is more validation that South Florida’s thriving economy and business-friendly climate are attracting key investments from across the globe. Greenberg Traurig looks forward to continuing to work with Empira as it builds out its presence in South Florida and in other target markets around the U.S.”
Empira plans to begin construction of a 26-story, 310-unit apartment tower in Brickell during the first quarter of 2024, with completion scheduled for 2026. The high-rise, designed by Coral Gables-based Corwil Architects, will offer a range of studio, one-, two-, and three-bedroom apartments with 380 parking spaces. The building will also have approximately 2,500 square feet of retail space on the ground floor and an array of amenities on the seventh floor, including a pool, fitness center, lounge area, and business center. The building will meet specific environmental and sustainability standards, such as energy efficiency, water conservation, use of sustainable materials, and indoor air quality, to achieve at least a LEED Silver certification.
The newly acquired site is located just 1.5 miles north of Empira’s previously acquired site at 3025 and 3051 SW Third Ave. in The Roads neighborhood, where the developer plans to build an 85-unit boutique, multi-family property.
Gonzalez represented Empira in both acquisitions with assistance from Greenberg Traurig Real Estate Shareholder Eric A. Castleson, as well as Land Use Shareholders Carlos R. Lago, Jorge L. Navarro, and Brian A. Dombrowski.
“Greenberg Traurig’s deep and extensive experience in South Florida, combined with its national and global reach, is valuable as Empira expands its investment in key U.S. housing markets,” said Rafael Aregger, Empira’s Head of Investments US. “Empira is focused on cities experiencing rapid population and job growth, such as Miami, Fort Lauderdale, Tampa, Dallas, Austin, and Phoenix, among others. We believe Greenberg Traurig’s significant presence across Florida and the Sun Belt will be very helpful in navigating new markets and opportunities.”
Additional partners in the transaction are Grand Peaks and JLL Capital Markets.