12 Sep Joint Venture Closes on $68M Acquisition of 170 Acres in South Florida for Mainstreet at Coconut Creek Mixed Use Development
The project is being developed by a partnership between Rosemurgy Properties, 13th Floor Homes, Schmier Property Group and Giles Capital Group.
Mainstreet at Coconut Creek will set the stage for a transformative new downtown core in Broward County’s City of Coconut Creek with new residential, retail, dining, shopping and green space.
COCONUT CREEK, FL – October 20, 2025 – A joint venture between Rosemurgy Properties, 13th Floor Homes, Schmier Property Group and Giles Capital Group has closed on 170 acres in South Florida’s Coconut Creek for the development of Mainstreet, a landmark mixed-use community that will serve as the city’s future downtown core. Mainstreet will encompass 12 development blocks designed to create a true pedestrian-friendly and cycle-centric community. With a projected build-out value exceeding $1 billion, Mainstreet will be one of the largest and most transformative new developments inBroward County. Plans for the multi-phase project include approximately 80,000 square feet of grocery-anchored retail space, 792 apartment units, 414 townhomes, 148 villas, and 296 condominium units.
Mainstreet will introduce a vibrant district where residents can live, work, and gather in one connected community. The first phase of construction is expected to break ground in late 2025, marking the start of a multi-year buildout that will bring new homes, retail, dining, and civic amenities to the area.
“Closing on this property represents a historic milestone for Coconut Creek and the culmination of years of collaboration,” said Alex Rosemurgy, CEO of Rosemurgy Properties, on behalf of the joint venture. “Mainstreet will transform one of the last remaining large-scale sites in Broward County into a vibrant, walkable community that balances new homes, shops, and civic amenities with thoughtfully designed parks and green spaces. We are proud to honor the legacy of the Johns Family Farm as we take this first step toward creating a true city center.”
Civic and cultural amenities will be distributed across four blocks and include a Village Green activated with gathering areas, children’s play areas, a splash pad, a dog park, performance space, and public art, along with a parking garage, outdoor amenity block, and a site reserved for a new fire station or similar civic use. Abundant green space will be woven throughout the project, highlighted by a 14-acre wetland preserve and more than six miles of biking and exercise trails.
“This closing underscores the confidence our partnership has in the long-term growth of Coconut Creek and Broward County,” added Michael Nunziata, President of 13th Floor Homes. “Mainstreet will be a generational project, delivering a thoughtfully planned mix of residential, retail, civic, and recreational uses that will enrich the lives of residents for decades to come.”
The property’s legacy stretches back more than a century. Originally purchased in 1918 by Eva and Joe Johns, who farmed beans during the winters before permanently settling in 1921, the land became a defining feature of Coconut Creek. Their son, Earl Johns, continued farming the site until his passing in 2009. Mainstreet will pay tribute to this history through dedicated spaces designed to celebrate the farm’s role in shaping the city.
Land use counsel Miskel Backman, LLP, oversaw the project’s entitlement and approval process. Nelson Mullins represented the joint venture partners in the closing transaction and the buyer’s financing, which was provided by CIBC Bank USA.
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About Rosemurgy Properties:
Rosemurgy Properties is a privately held, Boca Raton–based commercial real estate development, investment, and management firm with a legacy of more than 45 years in South Florida. The company is recognized for its disciplined approach to ground-up development, long-term portfolio stewardship, and value-driven partnerships across a diverse range of asset classes, including multifamily, self storage, retail, and mixed-use projects. With over 2.5 million square feet developed and acquired, Rosemurgy Properties has established itself as a trusted partner in creating high-quality, enduring assets that contribute to the growth and vibrancy of the communities it serves. The firm’s current managed portfolio and active development pipeline exceed $1 billion, underscoring both its scale and its commitment to strategic growth. Driven by an entrepreneurial spirit and a multi-generational commitment to excellence, Rosemurgy Properties continues to help shape communities it develops in through thoughtful design, proven execution, and collaborative partnerships with municipalities, institutional investors, and leading regional partners.
About 13th Floor Homes:
13th Floor Homes, the homebuilding division of 13th Floor Investments, is a premier developer of quality-built homes and communities throughout Florida. The firm is renowned for a resident-centric approach to development, creating neighborhoods that foster connection and lasting value for homeowners. 13th Floor Homes focuses on enhancing everyday living through attention to detail, modern features, and desirable locations. The firm’s diverse portfolio spans single-family, townhome, and build-for-rent communities, reflecting its dedication to meeting the needs of today’s residents. Recognized for its excellence in design, quality, and service, 13th Floor Homes has earned accolades as a leading homebuilder and community developer through numerous industry organizations and publications. Learn more at www.13thfloorhomes.com.
About Schmier Property Group:
Schmier Property Group is a diversified real estate firm seeking to develop, acquire and operate best-in-class commercial properties. Located in Boca Raton, Florida, SPG and its principals have been involved in the development and ownership of more than 2.5 million square feet of commercial real estate, including some of the most recognized retail shopping destinations in south Florida. SPG is intimately involved in every facet of the development process, from approvals and construction through leasing and rent commencement. We maintain longstanding relationships with national, regional and local tenants who understand the quality of our projects and the professionalism of our team.
About Giles Capital Group:
Giles Capital Group is a real estate advisory and investment firm that provides a comprehensive platform for the development, financing, acquisition, operation, and asset management of multifamily rental communities throughout Florida. Since 2012, the company has collaborated as a partner and investor in projects valued at over $730 million, with another $360 million in the pipeline. Since its inception, the company has executed in various sectors of residential real estate, including new lease-ups, re-positioning/value added, student housing, high-rise, and garden-style communities.
Media Contacts:
13th Floor Homes – Schwartz Media Strategies
Allie Grant: (305) 308-6351, allie@schwartz-media.com
Paloma Suarez: (786) 449-0636, paloma@schwartz-media.com