Related Group Partner JV to invest in $500m project in West Palm Beach, Fla.
On behalf of Transit Village and the project's principal, Michael Masanoff, Avison Young's Florida Capital Markets Group secured and structured a joint venture transaction between Globe Invest, Related Group and BH Group to invest in Transit Village, a transit-oriented, infill, mixed-use development spanning 10 acres. Transit Village is located at 150 Clearwater Drive and 203 S. Tamarind Ave. in downtown West Palm Beach, Fla.
The Transit Village proposed development is valued at more than $500 million.
Globe Invest acts as the investment arm and holding company of the entrepreneur Teddy Sagi and invests in various sectors globally, including software developments and applications, technology companies, financial services, and real estate. Sagi's group, through LabTech Investments Ltd., develops destination property landmarks in London and is responsible for a diverse portfolio that comprises flexible working, residential, retail, and food and beverage communities. LabT