MIAMI-An affiliate of Miami-based Related Group has purchased a residential development lot in Miami-Dade County's Fontainebleau area. The developer has paid $20.5 million for the 33.75-acre site situated on the east side of Northwest 97th Avenue and the south side of State Road 836.
The seller was Fontainbleau Lakes LLC, co-managed by Masoud Shojaee of Shoma Homes and Pedro A. Martin of Terra Group. Related Group bought the property through its affiliate, RD Fontainebleau LLC. For the full story, go to South Florida Business Journal .
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