Rendering of the proposed development
Teddy Sagi enters joint venture to invest in luxury development in North Miami
Billionaire real estate mogul Teddy Sagi, development powerhouse Related Group, and BH Group are teaming up to acquire the site of the former White House Inn located at 2305 NE 123rd Street in North Miami. The partnership plans to redevelop the waterfront site as a luxury residential development at the eastern entrance to North Miami.
Still in the early planning phase, the developers look to deliver a luxurious and highly exclusive community that will set a new residential standard for the neighborhood.
"This is one of those rare bayfront sites that's gone underutilized for far too long," said Jon Paul Pérez, Related President. "Through this partnership, we will revitalize the parcel and give North Miami the entrance it deserves."
This is the second project announcement for this joint venture. In fact, the group recently closed on an investment within the planned Transit Village project in downtown West Palm Beach, FL and continues to search for opportunities together throughout South Florida.
"We believe in the South Florida real estate market, and we believe this positive momentum is here to stay for the long run. We only invest in prime locations," said Sagi.
Sagi is an entrepreneur and technology visionary who seeks to transform the way we work, live and network. Sagi's LabTech Investments Limited is a property holding and management company that oversees diverse portfolio comprising flexible working, residential, retail, and food and beverage communities. One of the marquee assets include the vast majority of London's iconic Camden Market.
About Related Group
Established in 1979, The Related Group is Florida's leading developer of sophisticated metropolitan living and one of the country's largest real estate conglomerates. Since its inception, the privately held company has built, rehabilitated, and managed over 100,000 condominium, rental, and commercial units. The firm is one of the largest Hispanic-owned businesses in the United States with a development portfolio in excess of $40 billion in 40 years.
The Related Group has earned international status for its visionary designs and development of luxury condominiums, market-rate rentals, mixed-use centers and affordable properties – often in emerging neighborhoods that impact the lives of all demographics. The Related Group has redefined real estate by diversifying both its products and buyers, expanding internationally while also sponsoring public art installations that enhance cities' global culture and streetscapes.
TIME Magazine named Founder, Chairman and CEO of The Related Group, Jorge Pérez, one of top 25 most influential Hispanics in the United States. Currently, The Related Group has over 90 projects in varying phases of development.
LabTech Investments Limited owns and manages 1.9 million square feet of prime real estate across Camden Market and London's West End. The mission is to create a vibrant ecosystem where people can live, work, shop and play: all connected by innovative technology in one seamless experience.
BH Group is a Miami-based private investment and real estate company, working in partnership with Globe Invest, a leading real estate investment manager in UK & Europe owned by acclaimed entrepreneur Teddy Sagi. We perform acquisitions, development and management of real estate ventures in South Florida and have made a special niche in the very competitive market in Florida. For the last 20 years, BH Group has been involved in many large-scale real estate transactions and development by utilizing strong relationships to provide investors with opportunities not otherwise available in the real estate market. These opportunities promote structures and Joint Venture opportunities with a focus on value added contributions. We work in partnership with Globe Invest on a number of Joint Venture opportunities.