Brickell City Tower

Miami, FL 2013 - 2018
CASE STUDY

Returns

BACKGROUND

  • 33-story office tower totaling 285,595 square feet and surrounded by multiple high-rise residential projected in the emerging West Brickell micromarket

  • Across the street from a to-be newly developed Brickell Citi Centre, a $1.05B mixed-use project which includes high-end retail, hotels, condominium units, and office

Execution

  • Repositioned to Class A status by completing a $6MM renovation that included an expanded and redesigned building lobby, new entrance, conference center, and renovations to landings and restrooms on multi-tenant floors

  • Designed, obtained governmental approvals, financed, and developed multi-family housing on an adjacent land parcel (439-unit building named Solitaire) and entered into a joint-venture with Zom to manage the vertical development

  • The re-entitled land parcel sold for $18MM within 12 months of acquisition