Related Group and its partners sold the former White House Inn site on Biscayne Bay in North Miami to a new development team.
Biscayne Harbour Property Owner LLC, a partnership between Miami-based Related Group, Aventura-based BH and Israeli billionaire Teddy Sagi, sold the 1.07-acre site at 2305 N.E. 123rd Street for $20 million. The buyer was a joint venture between BH Group and Delray Beach-based Kolter Urban, the condo development arm of Kolter Group, CEO Bobby Julien. Jaret Turkell and Omar Morales of Berkadia brokered the deal. Arkansas-based Centennial Bank provided an $11 million mortgage to the buyer.
