MIAMI — Mast Capital, in a joint venture with AEW Capital Management LP, has acquired a 6.3-acre parcel of land at 1001 N.W. 7th St. in Miami for $26 million. Gerard Yetming and Mike Mattingly of Colliers International arranged the sale on behalf of the seller, RAD Miami, and procured Mast Capital as the buyer. The site, located at the south bank of the Miami River, will be the future home of Miami River Walk, a 688-unit apartment community. In addition to residential units, the project will include 1,100 linear feet of riverfront improvements, including an extension of the public Riverwalk and more than an acre of green space. Designed by Corwill Architects, the community will include a mix of one- and two-bedroom units, as well as 2,900 square feet of ground floor retail. The project site has sat vacant for more than 14 years, but was once home to The Miami News headquarters from 1957 to 1973, and later the Southeast Bank building. Miami River Walk will be developed in two phases, and the joint venture expects to start construction in the fourth quarter.
Miami River Walk will be located at the south bank of the Miami River.
Mast Capital, AEW Acquire Riverfront Land in Miami for $26M, Planning 688-Unit Multifamily Project
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