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Sunset Point ALF, LLC, an affiliate of Miami-based real estate development firm CIP Group, and LV Development, an affiliate of Miami-based Linkvest Capital, announced a joint venture to develop a 40,000-square-foot, 120-bed assisted living facility at 9985 Sunset Drive in an unincorporated area near Dadeland.

The partners acquired the vacant acre site for $3.7 million from Stupp Family Partnership Ltd. Closing took place on June 30.

Groundbreaking is slated for Q1 2022.

Sunset Point ALF, LLC is led by Genaro Garcia, Fernando Espino and Carlos Alonso. LV Development is led by Camilo Niño and Ricardo Uribe.