About & Strategy
Over 25 years of student housing, multifamily, and mixed-use development across South Florida.
About The TREO Group
The Treo Group is a Miami-based real estate investment and development firm specializing in student housing, multifamily, and mixed-use projects. With over 25 years of experience, the firm has built a reputation for identifying and executing complex transactions across South Florida.
Track Record Highlights
Over 726 student beds across two phases — Miami’s premier purpose-built student housing campus serving UM students.
A 602-bed purpose-built student housing community successfully developed in 2019.
9.5-acre waterfront mixed-use redevelopment, combining historic hangars with premier retail, dining, and marina uses, delivered in phases 2019–2022.
Aligned Interests, Shared Vision
Our principals co-invest in every transaction, fully aligning interests with capital partners and investors. Each investment is structured to reward performance through transparency, accountability, and value creation.
Investment Approach
TREO targets complex, overlooked transactions requiring local expertise, creative structuring, and speed. Our focus areas:
Student Housing
Purpose-built, transit-oriented communities serving top-tier universities with best-in-class amenities and rent-by-the-bed operations.
Mixed-Use & Waterfront
Placemaking developments that activate underutilized waterfronts into destinations for dining, retail, and entertainment.
Public-Private Partnerships
Established relationships with Miami-Dade County, City of Miami, and transit authorities to execute projects on public land.
Land Investments
Acquisition of undervalued land across South Florida, focused on entitlement, rezoning, and disposition to national homebuilders.
Principals
Carlos A. Ortega
Principal
Mr. Ortega brings over 20 years of experience in the real estate industry, with comprehensive expertise in the construction and finance of diverse commercial projects throughout South Florida. As co-founder and managing member of The TREO Group, he is responsible for overseeing all activities relating to investments and finances for the company.
Prior to co-founding The TREO Group, Mr. Ortega co-founded and served as Vice-President of Astor Development, where he directed all real estate development activities including land acquisitions, project conceptualization, and governmental approvals.
Education: J.D., St. Thomas University • B.A., Florida International University
Otto Boudet-Murias
Principal
Mr. Boudet-Murias’ career has been focused on the real estate development and construction industries in Florida. His extensive experience encompasses the development and construction of hotel, residential, office, and retail properties, as well as single-family and low-density multifamily projects across South and Central Florida. He serves as a managing member of TREO.
Mr. Boudet-Murias was recruited by City of Miami Mayor Manuel A. Diaz to serve as his Senior Economic Development Advisor from 2002 to 2005, and subsequently as Assistant City Manager and Chief of Planning & Economic Development from 2005 to 2006.
Education: B.Sc. in Engineering (Civil Engineering, Economics), Brown University • State-certified contractor • State-licensed mortgage broker • Urban Land Institute member
Rolando Delgado
Principal
Mr. Delgado is a graduate of the University of Miami School of Law and an attorney admitted to practice law in the State of Florida since 1992. From 1992 through 2004, he specialized in commercial real estate transactions representing primarily developers and lenders.
Since 2008, Mr. Delgado has devoted all of his business time to The Treo Group, LLC and its affiliates, overseeing land acquisition and entitlements for real estate projects and investments.
Education: J.D., University of Miami School of Law • Admitted to the Florida Bar, 1992
Our Partners
