Eric Goldberg Represents TriStar Capital in Purchase of Wynwood Property for Residential Project Development

The Real Deal reported that Olshan client TriStar Capital along with Related Group, Lndmrk Development, and Tricera Capital paid $26.5 million for a development site where they plan to build a residential project in Miami’s Wynwood neighborhood. The development site is located at 2700 Northwest Second Avenue and ground is expected to be broken in mid-2022. TriStar Capital and its partners are planning to build “well over” 300 residential units according to David Edelstein, President at TriStar Capital. Edelstein emphatically states that the market for new development in Wynwood is “on fire,” as this deal comes on the heels of a recently closed site where TriStar and partner RAL are planning a $200 million, two tower, mixed-use Class A office development. Real Estate Partner Eric Goldberg represented TriStar Capital in connection with this joint venture as well as the joint venture and the acquisition of the Tristar/RAL development site.