Coral Rock Development Group

What Coral Rock Development Group does

Coral Rock Development Group, LLC is a privately held real estate investment and development firm headquartered in Coral Gables, Florida, formed in 2018 by four South Florida principals — Stephen A. Blumenthal, David Brown, Victor Brown, and Michael Wohl — who collectively bring 125 years of real estate experience and a track record of 10 million+ square feet of commercial development and 10,000+ residential units. The firm focuses on mixed-use, multi-family, commercial, industrial, and affordable/workforce housing developments across South Florida, with an explicit concentration on underserved submarkets such as Hialeah, North Miami, and Florida City.

The firm's core products include flagship mixed-use projects (Pura Vida Hialeah — 260 residential units and 51,000 SF of retail), affordable and workforce housing (Kayla at Library Place — 138 units; Card Sound Key Apartments — 342 units), senior housing (Prospect Towers — 208 units, Clearwater), and affiliated industrial and self-storage holdings. There is no proprietary technology platform; the firm's value proposition rests on entitlement expertise, principal relationships, and the ability to secure construction financing (e.g., $53.5M residential and $12.75M retail loans from BB&T for Pura Vida Hialeah) and pre-lease commercial space to national tenants including Wawa, Taco Bell, Dollar Tree, YouFit, and Regions Bank.

Revenue is generated through a combination of development fees, equity promote from joint ventures (notably with Arena Capital Holdings), property sales, and recurring rental income from stabilized residential and commercial assets. The go-to-market is sales-led and relationship-driven, targeting institutional investors and joint venture partners for project-level capital, with direct leasing and sales to end-user tenants and owner-occupiers. The firm operates with a lean team of 1-10 employees and relies on its principals' track records, established municipal relationships, and integration across residential, retail, and office asset classes to differentiate against larger Florida developers.

Name

Coral Rock Development Group

Legal name

Coral Rock Development Group, LLC

Website

https://coralrockgroup.com

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

Coral Rock Development Group is a private South Florida real estate investment and development firm formed in 2018 by four veteran principals, specializing in mixed-use, multifamily, affordable/workforce housing, and commercial projects across Miami-Dade and surrounding counties, with joint venture partners and pre-leased national retail tenants.

Ownership category

akta.pro rank

Headquarters

HQ city

Coral Gables

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales

Revenue model

1. Real Estate Development and Investment: Develops and invests in mixed-use, multi-family and commercial properties. Revenue generated through property development, sales, leasing, and asset management. Core business focuses on strategic asset growth and increased profitability through development and repositioning of underutilized real estate.
2. Property Leasing and Tenant Revenue: Commercial and residential properties generate recurring rental income. Commercial tenants include Wawa, Taco Bell, Dollar Tree, YouFit Health Club, Regions Bank, and others. Residential units leased at market rate and workforce/affordable housing rates.
3. Joint Venture Development Fees: Partnership structures with Arena Capital Holdings and other investors for project development. Revenue includes development fees, promote distributions, and carried interest from joint venture arrangements.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Coral Rock Development Group acquires, develops, and manages mixed-use, multi-family, commercial, and industrial real estate across South Florida. Its core business focuses on strategic land acquisition, entitlement and zoning, construction oversight, leasing of commercial components, and long-term asset management of completed properties, including affordable and workforce housing, retail centers, industrial parks, and self-storage facilities.

Product overview

Coral Rock Development Group is a real estate investment and development firm based in Miami, Florida, specializing in mixed-use, multi-family, commercial, industrial, and self-storage developments across South Florida and the southeastern United States. The company's portfolio includes: mixed-use projects like Pura Vida Hialeah (260-unit residential with 51K SF retail), affordable housing developments such as Kayla at Library Place (138 units) and the broader Pinnacle Housing Group portfolio (10,000+ units), mixed-income projects including Card Sound Key Apartments (342 units), self-storage facilities under the Budget Mini Storage brand across multiple South Florida locations, and industrial developments including Pan American Business Parks and FedEx distribution facilities. With 125 years of combined experience and over 10 million square feet of developments, the company focuses on transformational projects that combine residential, retail, and commercial components.

Differentiator

Problem solved

Functional benefit

Products and services

• Pura Vida Hialeah A nine-acre mixed-use project in Hialeah featuring three eight-story residential towers with 260 apartment units and 51,000 square feet of retail space, including outparcels for commercial tenants such as Wawa, Taco Bell, Dollar Tree, YouFit, and Regions Bank.
• Kayla at Library Place A 138-unit workforce and affordable housing complex in North Miami featuring one and two-bedroom apartments ranging from 660 to 930 square feet, set on a 1.11 acre site at 13100 West Dixie Highway.
• Card Sound Key Apartments A 342-unit mixed-income apartment complex in Florida City consisting of six four-story buildings on 13 acres, with 20% workforce housing units.
• Dulce Vida Apartments Residential apartment complex in pre-development stage.
• Budget Mini Storage Climate-controlled self-storage facilities developed across South Florida locations including Aventura, Deerfield Beach, Davie, Pompano Beach, Tamarac, Kendall, Biscayne Blvd, Kendall Lakes, Bird Road, Hialeah, Country Club of Miami, North Miami, North Bay Village, Coconut Grove, and Kendall South.
• Pan American Business Park Industrial business park facility in Medley, Florida.
• Pan American West Business Park Western expansion of the Pan American Business Park industrial facility.
• Brickell View Terrace Mixed-income multi-family residential development.
• FedEx Distribution Facility Distribution facility development for FedEx operations in Downtown Miami, Florida.

Quantifiable outcome

• Over 10 million square feet of commercial properties and over 10,000 residential units developed
• +4 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered minor and core.

• Innovation Senior ManagementminorOthers · 9 February 2019Serves as property manager for Prospect Towers senior housing high-rise in Clearwater, acquired by Coral Rock and Arena Capital for $13.5 million.
• Arena Capital HoldingscoreStrategic or Co-development Partner · 30 November 2018Joint venture partnership for major mixed-use developments in South Florida. Partners Oscar Rodriguez, Ana Rodriguez, and Sebastian Roiter of Arena Capital Holdings co-develop projects including Pura Vida Hialeah (a $70M, 9-acre mixed-use project with 260 apartments and 51,000 SF retail) and Prospect Towers acquisition in Clearwater.
• Pinnacle Housing GroupminorStrategic or Co-development PartnerPrincipal Michael Wohl co-founded Pinnacle Housing Group in 1997, recognized as leading producer of affordable housing in southeast US with over 10,000 units in 70+ complexes. Wohl remains an investor in Pinnacle communities but focuses primarily on Coral Rock.
• Budget Mini-StorageminorStrategic or Co-development PartnerCo-founded by David and Victor Brown. Developed 18 climate-controlled self-storage facilities encompassing approximately 2 million square feet before selling to Public Storage in 2006.

Scale indicators16 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Lennar Corporation: One of the largest homebuilders in the US, with significant multifamily (Lennar Multifamily Communities) operations. Comparable in residential development activity and Florida exposure, but vastly larger scale and broader geographic footprint.

Direct peers

• Stiles Corporation: South Florida real estate developer with deep commercial office, industrial, and mixed-use expertise. Comparable in South Florida focus, commercial/industrial product mix, and multi-decade operating history.
• Terra Group: Miami-based real estate developer focused on luxury and mixed-use residential projects in South Florida. Comparable in target geography, scale of single-project developments, and JV-driven business model.
• The Related Group: The largest multifamily developer in South Florida with deep expertise in mixed-use, affordable, and luxury rental developments. Directly comparable to Coral Rock in target geography (South Florida), product mix (mixed-use multifamily), and customer base (institutional JV partners and end tenants).
• BTI Partners: South Florida-based real estate investment and development firm specializing in multifamily and mixed-use communities. Comparable in target geography (South Florida), product focus (multifamily/mixed-use), and institutional JV orientation.
• Mast Capital: Miami-based real estate investment and development firm focused on luxury residential, multifamily, and mixed-use projects in South Florida. Directly comparable in geography, product type, and JV-driven capitalization approach.
• Alliance Residential Company: Large multifamily developer with significant Florida presence, focused on market-rate and mixed-income rental communities. Comparable in multifamily focus, mixed-income product, and use of JV capital partners.
• Mill Creek Residential: National multifamily developer with active Florida operations across market-rate, workforce, and affordable housing. Comparable in multifamily/mixed-use product focus and institutional JV-driven capitalization model.
• Pinnacle Housing Group: Affordable housing developer co-founded by Coral Rock principal Michael Wohl in 1997; built over 10,000 affordable units across 70+ complexes in the Southeast US. Direct peer in affordable/workforce housing segment with shared DNA at the principal level.
• Housing Trust Group: South Florida-based affordable and workforce housing developer with a portfolio of ~11,000 units across the Southeast US. Highly comparable in affordable housing specialization, South Florida focus, and LIHTC-driven financing model.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Coral Rock Development Group