Receiver Alan Fine has been appointed to manage the troubled 1212 Aventura mixed-use development after more than a dozen office condo owners were ordered 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 developer of the nearly finished project at 21290 Biscayne Boulevard. The property includes a senior living facility with 163 apartments, 39 office condos totaling almost 26,000 square feet, and close to 30,000 square feet of retail space.
The appointment follows a foreclosure lawsuit filed in March by a lender affiliated with Dornin Investment Group of Las Vegas. According to court filings, Medical District Developments defaulted on a $49.6 million mortgage. The company is managed by David Avan in Miami.
Between November and January, Medical District Developments sold 25 office condos for a total of $9.4 million, with unit prices ranging from $164,100 to $1.1 million. However, after purchasing their units, buyers were forced by city officials to leave the building in May due to expired permits and certificates required for occupancy.
Miguel Chamorro, representing Medical District Developments, declined comment.
Victor Sanabria, attorney for Dornin Investment Group’s affiliate, 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 case also names Rieber Developments—the project manager based in Aventura—and thirteen contractors including Arquitectonica of Coconut Grove, which designed the building. These parties have liens against the property amounting to nearly $1 million for alleged unpaid work. Bernardo Rieber, CEO of Rieber Developments, previously stated that his firm and others are owed money.
Glen Waldman, lawyer for Rieber Developments, said: “We are pleased the court entered the order. Things will now get attended to properly, which will benefit all parties.”
Fine is a retired Miami-Dade judge who has experience handling receiverships in complex real estate foreclosures. In 2023 he was briefly engaged by investors in Location Ventures—a Coral Gables-based firm—to liquidate its assets before being replaced following an SEC lawsuit against Location Ventures and founder Rishi Kapoor over alleged investor fraud.
Most recently Fine was appointed as receiver over another distressed development site along the Miami River listed for $18 million.
Judge Rebull’s order notes that Medical District Developments failed to renew essential permits and certificates needed for legal occupancy or completion of construction at 1212 Aventura—which is about ninety percent finished.
The senior living component—expected to generate over $7 million annually—is not operating; buyers of remaining office condos cannot finalize their purchases while permits remain lapsed.
Meghhaa Kumaarr represents seventeen office condo owners affected by these issues. She said: “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. Our clients have not been able to conduct their business, but they are still paying mortgages on their units. It’s been very disruptive.”
