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**Investor Group Acquires Miami Beach Parcels for Mixed-Use Development**

Eastern Union and Benmark Capital have successfully closed on two parcels in Miami Beach, outlining plans for a 90,000-square-foot mixed-use development. The new project will feature a combination of retail, residential, and Class-A office space across two adjacent five-story buildings.

The development team paid $15 million for the properties, which include a CVS store and an adjacent at-grade parking lot. Located at 7410 Collins Avenue and 7400 Harding Avenue, the parcels sit directly across from the forthcoming Ocean Terrace development.

To fund the acquisition, the group secured an $11.8 million loan from Benmark Capital. The New York-based team comprises Abraham Bergman of Eastern Union, Charles Hoffman of Opal Realty NY, and The Scharf Group as partners in the project.

Construction is expected to begin in July of next year.

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