El-Ad National Properties has acquired the property at 3265 Virginia Street in Coconut Grove for $45.5 million, marking the South Florida-based developer’s entrance into the Miami neighborhood and establishing the site as a future redevelopment opportunity. The acquisition closed on May 14, 2026, with El-Ad 3265 Virginia LLC acquiring the property from WNG Miami LLC. Omar Morales of Berkadia represented the seller in the transaction.
Located in Coconut Grove, the property currently consists of a two-story residential building with 25 residential units and approximately 20,490 square feet. The site is occupied and operated as a residential rental property. Redevelopment plans have not been finalized at this time.
The acquisition adds to El-Ad National Properties’ South Florida portfolio as the firm continues to evaluate opportunities throughout Miami-Dade County. Coconut Grove is located south of Brickell and The Roads and east of Coral Gables, with access to Biscayne Bay, schools, parks, restaurants, retail destinations, and nearby employment centers.
The transaction follows continued activity for El-Ad National Properties across South Florida. In Palm Beach County, the firm is developing ALINA Residences Boca Raton, where it recently reported more than $60 million in seasonal sales activity and the sellout of ALINA 210, with limited inventory remaining at ALINA 220.
In Broward County, El-Ad National Properties is developing The Plaza at Davie District, formerly known as The District at Davie, on the southwest corner of Griffin Road and State Road 7. The approximately $1 billion mixed-use development is planned to include 1,256 Class A rental units and is located north of Seminole Hard Rock Hotel and Casino.
In Miami-Dade County, the firm owns and is advancing waterfront residential development opportunities in North Bay Village, including planned condominium projects on West Drive and East Drive.
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