RELATED GROUP, TEDDY SAGI AND BH GROUP JOINT VENTURE UNDER CONTRACT ON LAST DEVELOPMENT PARCEL IN MIAMI'S ICONIC FISHER ISLAND

MIAMI, Dec. 13, 2021 /PRNewswire/ -- A joint venture between real estate leaders Related Group, Teddy Sagi and BH Group are under contract on Parcel 7, the last available development parcel in Miami Beach's historic Fisher Island. The partnership plans to develop an ultra-luxury boutique condominium in what has come to be known as America's wealthiest zip code. Purchase price was not disclosed.

"We couldn't be more excited to finally have the opportunity to develop on the island," said Jon Paul Pérez, Related President. "Fisher Island has such a rich history and unmatched level of privacy; there's really nothing else like it in Miami or the country. We look forward to delivering a product that pushes the bar even higher for this incredible neighborhood."

This is the third acquisition for the Related, Teddy Sagi and BH joint venture, closely following high-profile purchases in West Palm and the City of North Miami. The two powerhouse firms continue to aggressively pursue additional joint opportunities throughout South Florida.

BH Group, the Miami-based private investment and real estate company, works in partnership with Globe Invest, a leading real estate investment manager in UK & Europe owned by acclaimed entrepreneur Teddy Sagi. 

"We are only interested in the most marquee locations in Miami, and it is impossible to find anything better than Fisher Island," said Teddy Sagi. "Despite the increasing levels of demand for top-tier parcels, we are bullish on the long-term potential of Florida. There is plenty of runway in this market."

The 216-acre Fisher Island is located right off the coast of Miami Beach and is only accessible via ferry or watercraft. It has long been known as one of the country's most exclusive communities, featuring a private golf course and beach, as well as a variety of lavish amenities, from butler service to a residents-only restaurant. The man-made island has been home to many of Miami's most iconic figures, including the heir to railroad fortune William K. Vanderbilt. It has also been home to some of the region's most high-profile real estate listings.

For more information, please visit Relatedgroup.com and bh-ig.com.

About Related Group  
Established in 1979, The Related Group is Florida's leading developer of sophisticated metropolitan living and one of the country's largest real estate conglomerates. Since its inception, the privately held company has built, rehabilitated, and managed over 100,000 condominium, rental, and commercial units. The firm is one of the largest Hispanic-owned businesses in the United States with a development portfolio in excess of $40 billion in 40 years.    

The Related Group has earned international status for its visionary designs and development of luxury condominiums, market-rate rentals, mixed-use centers and affordable properties – often in emerging neighborhoods that impact the lives of all demographics. The Related Group has redefined real estate by diversifying both its products and buyers, expanding internationally while also sponsoring public art installations that enhance cities' global culture and streetscapes.   

TIME Magazine named Founder, Chairman and CEO of The Related Group, Jorge Pérez, one of top 25 most influential Hispanics in the United States. Currently, The Related Group has over 90 projects in varying phases of development. 

BH Group is a Miami-based private investment and real estate company, working in partnership with Globe Invest, a leading real estate investment manager in UK & Europe owned by acclaimed entrepreneur Teddy Sagi.  We perform acquisitions, development and management of real estate ventures in South Florida and have made a special niche in the very competitive market in Florida. For the last 20 years, BH Group has been involved in many large-scale real estate transactions and development by utilizing strong relationships to provide investors with opportunities not otherwise available in the real estate market. These opportunities promote structures and Joint Venture opportunities with a focus on value added contributions. We work in partnership with Globe Invest on a number of Joint Venture opportunities.

Contact: Jenna D'Aniello, [email protected]

SOURCE The Related Group