Receiver Alan Fine has been appointed to oversee the troubled 1212 Aventura mixed-use project following a court order, after more than a dozen office condo owners were required to vacate the property earlier this year.
Miami-Dade Circuit Court Judge Thomas Rebull signed an order on Tuesday naming Fine as receiver for Medical District Developments, the entity behind 1212 Aventura at 21290 Biscayne Boulevard. The nearly completed project includes an assisted senior living facility with 163 apartments, 39 office condos totaling almost 26,000 square feet, and nearly 30,000 square feet of retail space.
The appointment comes amid a foreclosure case against Medical District Developments. The case was filed in March by a lender affiliated with Las Vegas-based Dornin Investment Group. According to the foreclosure complaint, Medical District Developments defaulted on a $49.6 million mortgage.
Between November and January, Medical District Developments sold 25 office condos for a combined $9.4 million. Unit prices ranged from $164,100 to $1.1 million. However, after buyers took possession of their units, they were ordered by the city of Aventura to leave in May because the developer allowed both the master building permit and temporary certificate of occupancy to expire.
Miguel Chamorro, attorney for Medical District Developments, declined to comment on the situation.
Victor Sanabria, lawyer for Dornin Investment Group’s affiliate lender said: “We felt the court’s appointment of a receiver was necessary to protect and stabilize 1212 Aventura. We believe it will safeguard the property’s value and put the project back on track.”
The foreclosure complaint also lists Rieber Developments—the project manager based in Aventura—and thirteen contractors as defendants due to nearly $1 million in allegedly unpaid work related to liens against the property. Coconut Grove-based Arquitectonica designed 1212 Aventura and is among those owed money. Rieber Developments CEO Bernardo Rieber previously told The Real Deal that his firm and several other companies have not been paid.
Glen Waldman, attorney for Rieber Developments stated: “We are pleased the court entered the order. Things will now get attended to properly, which will benefit all parties.”
Alan Fine is a retired Miami-Dade judge who has handled receiverships in high-profile cases involving commercial properties facing foreclosure. In 2023 he was briefly retained by investors of Location Ventures—a Coral Gables-based firm—to liquidate its real estate assets before being replaced when federal authorities filed suit against Location Ventures’ founder for alleged investor fraud.
Fine has also recently been appointed as receiver over another distressed development site along Miami River currently listed for sale at $18 million.
According to Judge Rebull’s order, Medical District Developments did not renew key permits needed for lawful occupancy or completion of construction at 1212 Aventura—which is about ninety percent finished—leaving no one able to occupy or complete work at the site.
The assisted senior living facility remains non-operational despite projections it could generate over $7 million annually; buyers of unsold office condos cannot close their purchases while these issues persist.
Meghhaa Kumaarr represents seventeen office condo owners affected by these developments: “This means the receiver will now be able to move forward with getting the master permit and the temporary certificate of occupancy reinstated so that they can go back into their units,” Kumaarr said. “Our clients have not been able to conduct their business, but they are still paying mortgages on their units. It’s been very disruptive.”
