Location Ventures is proud to announce with the help of PROFILEmiami article titled “Location Ventures Closes South Beach Assemblage For $20 Million Where Co-Living Project URBIN Miami Beach Is Planned” a tremendous milestone achieved in the closing of the Washington Avenue, Miami Beach assemblage.
From the article:
The Coral Gables-based Location Ventures, led by Rishi Kapoor, has closed on the Washington Avenue assemblage where they have planned Urbin Retreat Miami Beach for $20 million. The acquisition was financed with at $14 million mortgage assumed from the seller, Fryd Properties. The assemblage includes a 10,697 SF retail property at 1260 Washington Ave. and an office building at 1234 Washington Ave.
Prior to closing, Location Ventures has had the Urbin Retreat Miami Beach project in the works since at least 2019. Urbin Retreat Miami Beach is designed by Touzet Studio was approved by Miami Beach’s Historic Preservation Board and Planning Board in August 2020. Urbin Retreat Miami Beach will be a co-living, co-working and wellness platform featuring 56 hotel rooms, 49 co-living units, retail, co-working space, a rooftop bar, and a ground-floor restaurant and bar.
Read more from the PROFILEmiami article HERE