OKO and Oak Row Equities Close Record $520 Million Brickell Land Deal

Two prominent real estate firms closed what is being called South Florida’s largest land transaction on record. Oak Row Equities, led by Erik Rutter and David Weitz, partnered with OKO Group to acquire a Brickell waterfront assemblage for $520 million. The deal, which was under contract for a year, closed just before the holidays with support from a $464.5 million acquisition and predevelopment loan from Tyko Capital.

What Was Acquired

The assemblage includes the office tower at 1001 Brickell Bay Drive and surrounding waterfront parcels. The sites are positioned in one of Miami’s most desirable submarkets, where demand for mixed-use and residential development continues to grow. Details on the specific development plans have not been disclosed, but the scale and location suggest a significant future project.

According to the Miami Association of Realtors, luxury condo sales in Brickell reached a median price of $685,000 in Q3 2024, reflecting sustained buyer interest in high-end urban properties. The transaction underscores the area’s appeal to institutional investors and developers targeting Florida’s expanding population and business sector.

Financing and Partnership Structure

Securing financing for a deal of this size required both a seasoned lending partner and strategic collaboration. Tyko Capital, a hedge fund-backed lender, provided the acquisition and predevelopment loan. This type of financing is common in large-scale development deals, where lenders assess not only the property’s current value but also the feasibility of the project’s next phase.

OKO Group’s involvement brought additional capital and development expertise to the table. The partnership model allowed Oak Row Equities to move forward with a project that required substantial upfront investment and long-term planning. For developers considering similar joint ventures, aligning financial structures and expectations early is critical to managing risk and maintaining flexibility.

James Moore’s real estate advisory team works with developers and investors to structure deals, manage cash flow, and assess the tax implications of large acquisitions and partnerships.

Market Context in South Florida

This transaction comes at a time when South Florida’s commercial and residential real estate markets are adjusting to higher interest rates and shifting demand patterns. While some markets have slowed, Brickell has remained a focal point for development due to its proximity to financial services, hospitality, and transit infrastructure.

The National Association of Realtors reported that commercial property sales nationwide declined by 35% year-over-year in 2024, but prime urban locations with strong fundamentals have continued to attract investment. Florida’s population growth and business relocation trends have contributed to sustained interest in Miami-Dade County real estate.

What This Means for Florida Developers

For Florida-based developers and investors, this deal highlights the importance of capital access, strategic partnerships, and market timing. Large-scale land acquisitions require detailed financial planning, including predevelopment budgeting, loan structuring, and tax strategy. Understanding the interplay between acquisition debt and future equity returns is essential to managing profitability.

James Moore supports real estate clients with tax planning, audit preparation, and advisory services that help manage the complexities of large transactions and development projects.

Miami and Beyond

While the immediate transaction is complete, the next phase will involve entitlements, design, and construction planning. Investors will be watching closely to see how Oak Row Equities and OKO Group approach development in one of Miami’s most competitive submarkets.

South Florida’s real estate market continues to present opportunities for well-capitalized groups with a clear vision and strong operational support. For firms pursuing similar deals, the ability to secure flexible financing and execute on long-term plans will determine success.

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