The Estate Companies (EIG) and Miami-based commercial builder Midtown Group have acquired a 20.8-acre development site at the southeast corner of Southwest 312th Street/Campbell Drive and Northeast 30th Avenue in Homestead, FL, for $14 million.
In September 2023, the team received unanimous site plan approval for Soleste Midtown, a mixed-use community comprising 354 luxury garden-style apartments with approximately 43,000 square feet of commercial space. The Estate Companies will develop and own the residential portion while Midtown Group will develop and own the commercial component. Construction is estimated to begin this summer.
Soleste MIdtown features six five-story apartment buildings with units ranging from 676 to 1.131 square feet. Amenities include a clubhouse and pool.
The Estate Companies is one of Florida’s largest and most active multi-family development firms. Approximately 4,000 rental units and 153,000 square feet of commercial space are in the pipeline throughout the tri-county region.
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Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
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