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Vanessa Fioravante (firstname.lastname@example.org)
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TSG & LINEAIRE GROUP PARTNER WITH BRIDGE INVESTMENT GROUP
TO DEVELOP WYNWOOD HAUS
Partnership aligns with major national OZ Fund; Opportunity Zone site will introduce apartment residences in booming neighborhood
MIAMI (Jan. 25, 2021) – TSG – a South Florida boutique, diversified real estate development and investment company – and Lineaire Group – a Miami-based real estate investment and development firm focused on urban infill projects – announced today a partnership with Bridge Investment Group to develop Wynwood Haus, a multifamily opportunity zone project in Miami’s booming Wynwood submarket. Bridge Investment Group, a leading, privately-held real estate investment and property management firm with $25+ billion in assets under management, is one of the largest opportunity zone funds in the nation.
Bringing a unique breadth of skills ranging from local market expertise to sophisticated investment analysis, these three firms have partnered to holistically position Wynwood Haus as a leader in the Wynwood submarket.
TSG and Lineaire Group jointly acquired the site at 1765 North Miami Ave. in 2019. In July 2020, Bridge Investment Group targets development projects with high-quality partners in qualified opportunity zones. Wynwood Haus ideally aligns with Bridge Investment Group’s goal of investing in sustainable neighborhoods; this partnership marks Bridge’s first investment in Miami under its Opportunity Zone Strategy.
“Our presence in the Wynwood submarket of Miami supports our strategy of focusing on QOZs in high-growth U.S. markets, and we are pleased to be partnering with two knowledgeable firms to bring this incredible project to fruition,” said David Coelho, partner, chief strategy officer, and chief investment officer of Bridge Investment Group Opportunity Zones.
“Our goal is to identify a trend and develop in response to that specific need, while also integrating superior attributes,” added Camilo Lopez, CEO and managing partner of TSG. “This opportunity with Lineaire and Bridge allows our firm to collaborate to design Wynwood Haus with the highest caliber of offerings, from rooftop amenities not typically found in multifamily developments, to attractive unit mix and unobstructed views, all of which appeal to the area’s resident profile.”
“From day one, TSG and Lineaire sought to partner with a firm who would not only provide the necessary capital, but also bring deep-rooted expertise in multifamily development to help us position this project as one of the top-performing assets in South Florida,” said Diego Bonet, managing partner at Lineaire Group. “Bridge goes above and beyond with the talent of their team and their commitment to revitalizing neighborhoods by partnering with local firms is a testament to the success of the Opportunity Zone Program.”
Wynwood Haus is set at the entrance of Wynwood, an area that has experienced tremendous growth in the last year with the introduction of new residential, retail, and hotel product. The project will feature approximately 5,500 square feet of ground-floor commercial space and thoughtfully-designed apartment residences ranging from studios to two-bedrooms, with oversized balconies, high-end finishes, and the latest in home technology. A rooftop featuring state-of-the-art amenities will be a focal point, offering a pool deck with dramatic views of the Miami skyline and Biscayne Bay, and gardens by Enzo Enea to introduce lushness to the outdoor spaces.
Other amenities include a full-service gym complete with a sauna, steam room, and yoga studio, and a multipurpose coworking space. A designated transit-oriented development (TOD) project, the building will be within walking distance of the School Board Metromover station, providing seamless connectivity to Downtown Miami, Brickell, and Florida’s major metropolitan areas via the Brightline.
The developers obtained $14 million in incentives from the Omni Community Redevelopment Agency (CRA) in Miami to support dedicating a portion of the apartments to workforce housing.
Wynwood Haus features architecture by renowned Miami firm Corwil Architects, curated interiors by Lineaire Designs (Lineaire Group’s sister company), and landscaping by Enzo Enea — one of the world’s leading landscape architecture firms.