Receiver Alan Fine has been appointed to oversee the 1212 Aventura mixed-use project 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 designating Fine as receiver for Medical District Developments, the developer of the nearly completed site at 21290 Biscayne Boulevard.
The 1212 Aventura project includes a senior living facility with 163 apartments, 39 office condos covering nearly 26,000 square feet, and close to 30,000 square feet of retail space. The development has faced setbacks after Medical District Developments, managed by David Avan in Miami, allegedly defaulted on a $49.6 million mortgage from a lender affiliated with Las Vegas-based Dornin Investment Group. The foreclosure case was filed in March.
Between November and January, Medical District Developments sold 25 office condos for a total of $9.4 million, according to records. Prices per unit ranged from $164,100 to $1.1 million. However, buyers were later forced out by the city of Aventura in May after permits and certificates required for occupancy expired.
Miguel Chamorro, representing Medical District Developments as legal counsel, declined to comment on the situation.
Victor Sanabria, attorney for Dornin Investment Group’s affiliate lender stated: “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—managed by CEO Bernardo Rieber—and thirteen contractors including Arquitectonica among those owed money for work done on the property; liens against the site reportedly total nearly $1 million.
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 experienced in managing receiverships related to distressed commercial properties and developments under foreclosure. In recent years he has overseen similar cases including one involving Coral Gables-based Location Ventures until early 2024 when federal authorities intervened due to alleged investor fraud at that firm.
Judge Rebull’s order states that without renewal of key permits or certificates by Medical District Developments no one can lawfully occupy units at 1212 Aventura or complete construction—currently estimated at about ninety percent finished. The senior living facility intended for over $7 million in annual revenue remains non-operational; remaining office condo buyers are unable to finalize their purchases.
Meghhaa Kumaarr represents seventeen office condo owners affected by these events and commented positively on Fine’s appointment: “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.”
