ANILLO TOLEDO LOPEZ ARCHITECTURE
Altman Cos. buys development site from Baptist Health
Altman Cos. and its partners acquired a Kendall development site from Baptist Health South Florida and will soon start construction.
The Miami-based nonprofit health care system sold the 14.5-acre site at 9501 S.W. 137th Ave., at the northeast corner of Southwest 96th Street, for $14.37 million to Boca Raton-based Altman Cos. and several partners. TD Bank provided a $75 million construction loan to the buyer.
Altman Cos. is 50% owned by Fort Lauderdale-based BBX Capital (OTC: BBXIA) and 50% owned by co-CEO Joel Altman. BBX Capital invested $5.7 million as part of the deal, according to its statement.
Altra Kendall will feature 342 apartments, ranging from one to three bedrooms, in six-story buildings. Amenities will include a pool, a fitness center, a yoga room, a café lounge, a business center, a coworking area, a game room, a playground, a spa and a pet park. The building will be constructed to Florida Green Building Coalition standards, including electric car charging stations and energy-efficient lighting.
“We are excited to begin construction on Altra Kendall,” Altman said. “For over 53 years, the Altman Cos. has developed a portfolio of rental communities that have delivered an Exceptional Living Experience to our residents in Florida and across the country, and we are very proud to begin the development of another upscale, amenity-rich community in Kendall.”
The developer expects to complete Altra Kendall in 2024.
The project was designed by Anillo Toledo Lopez Architecture in Miami.
