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MIAMI — LORE Development Group, a newly formed development firm between Leste Group and Brazilian-based Opportunity Fundo de Investimento Imobiliário, has announced plans to develop a $500 million multifamily development in Miami’s Brickell district. Situated near Brickell City Centre, the 442,000-square-foot, unnamed property will be located at 1015 SW 1st Ave. and feature high-end amenities and 2,000 square feet of ground-floor retail space. The construction timeline and design-build team were not disclosed. LORE will source and acquire properties and work with third-party construction teams to build its projects. In South Florida, LORE plans to develop more than $1 billion in multifamily assets over the next five years.