HFF sells $30.5M site of Old Spanish Village
MIAMI – HFF has closed the sale of the former Old Spanish Village development site in Coral Gables.
HFF marketed the development site on behalf of the seller, FirstBank Puerto Rico. Agave Holdings, LLC purchased the property for $30.55 million. Legal representation for the buyer and seller consisted of Bilzin Sumberg and Holland & Knight, respectively.
Old Spanish Village is a 5.8-acre mixed-use development site that is entitled for nearly 700,000sf of residential and retail uses. The site is along Ponce de Leon Boulevard next to Ponce Circle Park and within blocks of downtown Coral Gables, the Miracle Mile shopping district and Merrick Park.
The HFF sales team representing FirstBank Puerto Rico included Executive Managing Director Manuel de Zarraga, directors Luis Castillo and Jaret Turkell, and real estate analyst Scott Wadler.
Old Spanish Village is a 5.8-acre mixed-use development site that is entitled for nearly 700,000sf of residential and retail uses.
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