Developers behind Marina Palms condo project have merged
The Plaza Group and DevStar Group, the developers behind the Marina Palms Yacht Club & Residences condominium project in North Miami Beach, have merged into a Miami-based company called Plaza Equity Partners.
They have finished construction of the second of two towers at Marina Palms, branded as The Reserve at Marina Palms. Marina Palms features a 112-slip, full-service marina accommodating yachts up to 100 feet with a full-time concierge.
In addition to Marina Palms, The Plaza Group developed the Palms in Fort Lauderdale and Ocean Palms in Hollywood Beach, among other major commercial developments in South Florida and Canada.
“We are capable of executing on complex transactions in a very short period of time, given our wide range of real estate development, sales and financing acumen,” Anthony Burns said in a prepared statement.
Burns and George Helmstetter, who were principals of DevStar Group, will be co-presidents of the merged company, a full-service real estate business with a staff of professionals including architects, accountants, engineers, brokers, bankers and developers.
Burns and Helmstetter formed Plaza Equity Partners with Neil Fairman, founder and former president of The Plaza Group.
DevStar Group’s past projects include the redevelopment of Paramount Bay in Miami’s Edgewater District and the development Ocean House in Miami Beach’s South of Fifth Neighborhood.
Source: The Real Deal