A buyer identified with Miami investment firm Azora has acquired retail and mixed-use commercial condominium space at Santona Corner, a development near the University of Miami at 1430 South Dixie Highway.
JLL retail broker Carter Nash described the transaction in a public post dated August 31, 2026. The post identified Azora as the buyer, ABC Properties as the seller and the sale price as $22.15 million. The post described the property as roughly 37,500 square feet.
The Real Deal later reported that the sale involved 17 ground-floor retail and mixed-use condominium units at Santona Corner. That report described the space as totaling 27,600 square feet and put the price at $22.2 million, although its headline referred to a $21 million purchase.
Those conflicting figures need to be resolved through the recorded deed, condominium records and other Miami-Dade County property documents. The legal buyer, closing date, exact units and financing terms were not available in the public material reviewed for this report.
Santona Corner includes commercial space along South Dixie Highway and a parking garage on Madruga Avenue. The property has housed businesses including Madruga Bakery and other retail and service tenants. A previous owner sold the development in 2014 for $17.5 million, according to earlier reporting that cited Miami-Dade County records.
Azora Capital's website identifies Ravi Chopra as the firm's founder and chief investment officer. The firm lists its Miami office on Main Highway in Coconut Grove and describes its business as focused on financial-sector investing. Neither Azora nor Chopra has publicly explained the purpose of the Santona Corner acquisition in the material reviewed.
The sale does not by itself indicate a change in the property's tenants or uses. Coral Gables requires prospective businesses to obtain a Certificate of Use, and changes such as converting retail space to restaurant use may require review by the city's Development Review Committee.
The immediate questions for tenants and nearby businesses are whether leases, rents, parking arrangements or building operations will change. No such changes have been publicly documented. The Gazette is seeking the recorded transaction documents and comment from Azora, ABC Properties, JLL, current tenants and the city.
Author: Peter Goff
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