Nahla’s Raleigh Miami Beach expansion plan heads to city commission vote
The multibillion-dollar private equity firm Nahla Capital is seeking approval of a plan to expand the Raleigh Miami Beach redevelopment. New York-based Nahla, led by managing principal Genghis Hadi, will go before the Miami Beach Planning Board on June 2 for comprehensive plan and code amendments allowing the developer to increase the floor area ratio to 2.5 from 2.0, adding more than 66,000 square feet to the project via two additional floors of the residential tower. Nahla paid $270 million for the 3-acre oceanfront development site in October, taking over from developer Michael Shvo and his partners. The property, at […]This article originally appeared on The Real Deal. Click here to read the full story.
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