Terranova has stretched its holdings by buying Miracle Mile found in Coral Gables. Terranova is a real estate agency found in Miami Beach, and Stephen Bittel is the CEO who cashed out over 6million US dollars to get the 300 Miracle Mile that previously harbored Pizza Kitchen.
This acquisition is just the 12th item in Terranova’s portfolio, but the restaurant shit down thanks to the novel coronavirus. This Miami real estate agency consulted Apollo and acquired a 3-million-dollar loan. Ari Bittel is the company’s managing director who took charge of the deal that was finalized on June 29.
Stephen claimed that a 5.950 ft2 building; The Mildred Weissel Trust had been owned for about 70 years, and Terranova was chasing it for approximately 15 years. Stephen Bittel was always waiting for the perfect moment to buy the property as soon as Judy Weisel declared.
Stephen Bittel confirms that the real estate venture is discussing with a national ideology that will exploit the investment. This building is single-story and was created in 1949 sitting on a vast area of land. This was not the only Miracle Mile investment Terranova had done because it also had 360, 308, and 348 on that block.
The latest, 308 property nears the one bought and hired to a Library in the Miami-Dade area. Miracle Mile harbors new restaurants like Sushi Sake, Dickey’s Barbecue, as well as John Martin’s. At the beginning of the years, Terranova cashed out a 24-acre site found in Doral for about $55 million to GLP Capital Partners.
Stephen Bittel’s Life History
Stephen Bittel founded Terranova in 1980 and is still the chairperson of the company. Terranova Corporation leads the company’s operation and ownership with a beautiful real estate holding. Stephen Bittel has seen the company grow more into the South Floridan region and being a native, he has served the community perfectly.