Empira Group acquires high-rise multifamily development site in Miami

Empira Group announced the acquisition of the 901 S.W. 3rd Ave. development site, formerly known as Empire Brickell, in Miami’s Brickell area. This is the firm’s second development site acquisition in greater downtown Miami in the past eight months. The transaction closed on April 18, 2023.

“This investment underlines Empira‘s commitment to investing in Miami's residential real estate market, which is poised for tremendous growth over the next few decades,” said Lahcen Knapp, chairman at Empira. “Miami has emerged as one of the top U.S. business hubs and the city’s trajectory and global significance keeps trending upwards.”

Rafael Aregger, head of investments, U.S., at Empira Miami, added that this is just the beginning of Empira’s investment strategy in key U.S. markets.

“Among developed countries, the U.S. has one of the most significant housing shortages, which presents a tremendous growth opportunity for us,” said Aregger. “We are foc