Foreign investor acquires prime residential development site west of Brickell, Fla.

Empira Group, a Swiss real estate firm, has purchased CoralGrove Brickell, a 0.53-acre, residential development site planned for 85 units, located between Brickell and Coral Gables in Miami.

The financial terms were not disclosed. JLL Capital  Markets marketed the property on behalf of the seller, an investment group from South America.

CoralGrove Brickell is planned to include 85 units, consisting of one-, two-, and three-bedroom apartments. Amenities will consist of a fitness center that incorporates spaces for yoga and spinning, a rooftop resort-style pool overlooking the city, a gourmet kitchen and a game room. The ground floor will have about 900 square feet of retail space.

CoralGrove Brickell, which is a five-minute walk from the Viscaya Metrorail Station, will promote walkable urban living. Residents will be able to trade their cars for the Metrorail to travel around the tri-county area, committing the project to the highest ESG standards. The project w