Receiver Alan Fine has been appointed to manage the troubled 1212 Aventura mixed-use project, following a court order from Miami-Dade Circuit Court Judge Thomas Rebull. The move comes after more than a dozen office condo owners were ordered to vacate the property earlier this year.
The 1212 Aventura project, located at 21290 Biscayne Boulevard, is nearly finished and includes an assisted senior living facility with 163 apartments, 39 office condos covering over 25,000 square feet, and close to 30,000 square feet of retail space.
Judge Rebull is overseeing a foreclosure case brought in March by an affiliate of Dornin Investment Group based in Las Vegas. According to the foreclosure complaint, Medical District Developments—the project’s developer managed by David Avan—defaulted on a $49.6 million mortgage.
Between November and January, Medical District Developments sold 25 office condos for $9.4 million in total. Unit prices ranged from $164,100 to $1.1 million. However, buyers were later forced by the city of Aventura to leave the property in May due to expired permits and occupancy certificates.
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, 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 filing also lists Rieber Developments—the project manager—and thirteen contractors as defendants. Arquitectonica is among those with pending liens against the property totaling nearly $1 million for unpaid work. Bernardo Rieber of Rieber Developments previously told The Real Deal that his firm and others are owed money.
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.”
Fine has experience handling receiverships for commercial properties under distress or in foreclosure cases throughout South Florida. In one recent example from 2023-2024 involving Location Ventures—a real estate firm accused by federal authorities of investor fraud—he served briefly as receiver before being replaced after SEC intervention.
Fine was also recently named receiver for another distressed development site along the Miami River listed at $18 million.
Judge Rebull’s order notes that Medical District Developments did not renew essential building permits or occupancy certificates; as a result no one can legally occupy any part of 1212 Aventura nor can construction be completed despite being about ninety percent finished.
The senior living facility within the project remains non-operational though it was expected to bring in over $7 million per year once open. Office condo buyers have been unable to finalize their purchases or access their units because of these issues.
Meghhaa Kumaarr represents seventeen office condo owners affected by these developments and described Judge Rebull’s decision as positive: “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.”
