13th Floor Investments, in partnership with Tricera Capital and Wexford Capital, acquired a 2.2-acre development site along the MiMo corridor on Biscayne Boulevard in Miami, Florida in June 2017. The site was developed into The Boulevard, a 282-unit, mid-rise luxury multifamily building with 27,000 square feet of ground floor retail.

This transaction is in line with our general view that investors are getting paid favorable risk-adjusted returns for class A multifamily development in prime locations. 13th Floor Investments is eager to expand its presence in the burgeoning MiMo/Biscayne corridor that continues to grow as a top destination for affluent families and new retail concepts.