Oak Row Equities, a leading vertically-integrated real estate private equity and development company with over $4 billion of development in South Florida, OKO Group, the Miami-based development company founded by international investor and luxury real estate developer, Vlad Doronin, and Mariposa Real Estate have successfully completed the single largest land acquisition in Florida. The joint venture closed on the $520 million purchase of Aimco’s 4.25-acre waterfront parcel—located at 1001 and 1111 Brickell Bay Drive—with 485 feet of continuous Biscayne Bay frontage.
TYKO Capital is the senior lender, providing a $464.5M acquisition and predevelopment loan. Positioned in the heart of Miami’s Brickell financial district, the overall site is zoned for over three million square feet of development, allowing for multiple towers that can rise up to 1,049 feet. The assemblage, the largest and last remaining developable site of this scale in Brickell, will feature an ultra luxury destination that redefines the future of holistic living and leisure. The first phase of development will feature a hotel and branded condominiums.
Photo from Google Earth.
“Closing on Brickell Bay Drive is a historic moment for our growing firm—a milestone that speaks to the caliber of our team—and for the future of Miami. We are honored to partner with OKO Group to create a globally-coveted experience and new way of living that is singular to this once-in-a-lifetime waterfront site,” said Erik Rutter and David Weitz, Managing Partners at Oak Row Equities. “Tyko Capital has been an incredible partner and a true pleasure to work with. Their financing is a powerful validation of the underlying fundamentals of this exceptional transaction, and we are grateful for their partnership and belief in the unprecedented growth ahead for South Florida.”
“This landmark acquisition represents a pivotal moment for Miami and reinforces OKO Group’s long-term commitment to elevating the city’s global profile,” said Vlad Doronin, Founder and CEO, OKO Group. “Brickell’s final remaining waterfront site of this scale provides a rare opportunity to create an iconic mixed-use development that will set a new benchmark for design, wellness, and luxury hospitality in the United States. We are pleased to collaborate with Oak Row Equities, whose vision and expertise align with our ambition to deliver enduring value and an unparalleled lifestyle experience for residents and guests on Biscayne Bay.”
Oak Row Equities continues to expand its South Florida development portfolio. The firm is behind Wynwood Plaza, a large-scale mixed-use project in the Wynwood Arts District that includes Amazon’s South Florida headquarters and 509 residential units. In Edgewater, Oak Row has advanced multiple high-rise developments, including the under-construction 2600 Biscayne, a 41-story Class A office and multifamily tower financed by a $181 million construction loan from Bank OZK, and 2900 Terrace, which broke ground following the closing of $142.5 million in senior financing from Bank OZK and $68.0 million in mezzanine financing from Canyon Partners Real Estate.
Oak Row Equities has rapidly ascended as a preeminent development firm in the South Florida real estate industry. Wynwood Plaza, the largest mixed-use development in Wynwood, is home to Amazon’s South Florida headquarters and 509 brand new luxury rentals. Oak Row assembled the land for this project in the largest off-market transaction in Wynwood’s history.
2900 Terrace, a premier luxury multifamily tower in Miami’s vibrant Edgewater submarket, broke ground in October following the close of a $142.5 million senior loan from Bank OZK and a $68.0 million mezzanine loan provided by Canyon Partners Real Estate. 2600 Biscayne, a 41-story Class AAA office and multifamily tower in Edgewater and currently under construction, was funded by a $181M construction loan from Bank OZK with over 50% of the commercial space pre-leased.
Simultaneously, ORE is finalizing plans for First & Fifth, a brand new luxury multifamily tower designed by ODP Architects, that will rise across the street from MiamiCentral Station – the hub of all four major train systems in South Florida. ORE is also advancing permits for Venus, a 440-unit multifamily project in North Miami Beach.
OKO Group builds on the formidable expertise of Doronin, one of the most successful and respected international developers, and his peerless track record in constructing world-class office, retail and luxury residential space over a total of 82 buildings.
OKO Group’s current U.S. portfolio of prime properties and development projects include 830 Brickell, a Class A-plus office tower in Miami’s Brickell Financial District; two luxury residential developments in Miami, Missoni Baia in Edgewater and Una Residences in Brickell; Aman Miami Beach, spanning two oceanfront buildings at 3425 Collins Avenue; the Crown Building in New York City, which opened in 2022 as Aman New York at the crossroads of Fifth Avenue and 57th Street; and One Beverly Hills, a 17.5-acre multi-billion dollar master planned development in partnership with Cain International which will include Aman Beverly Hills which will encompass an Aman hotel, branded residences, and a private club.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Hope developers are able to workout the kinks in Brickell Bay Dr while they have the chance. Let’s avoid the ridiculous S curve by the Aston Martin, which could have been unsnarled before major development occurred. Chicago did it decades ago; come on Miami, let’s use some “street sense”.