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MIAMI BEACH, FLA. — A joint venture between Aria Development Group, Wexford Capital and 13th Floor Investments has purchased a two-story, 7,310-square-foot multifamily property located at 825 Collins Ave. in Miami Beach’s South Beach submarket. The buyers plan to raze the property and construct a 10,000-square-foot flagship retail development. CB Richard Ellis’s Miguel Alcivar, Scott O’Donnell, Dominic Montazemi and Will Pike represented the seller, an entity affiliated with The Federated Companies. The construction timetable was not released.