Miami's Brickell City Centre sold to Simon Property in up to $548.7 million deal
(Reuters) -U.S.-based shopping mall owner Simon Property Group has acquired the parking and retail segments of Miami's Brickell City Centre for up to $548.7 million from Swire Properties, the Hong Kong-listed company said on Friday.
Simon Property already owned a 25% stake in the retail component since 2025 and has now bought the remaining.
Swire said in a statement proceeds from the deal would be used for the funding requirements of the group's U.S. arm and general working capital requirements.
Brickell City Centre stretches across four floors and features more than 90 retail stores, anchored by Saks Fifth Avenue. It forms part of a mixed-use development in Miami's financial district, which also includes office and residential towers as well as a hotel.
Simon Property is a real estate investment trust engaged in the ownership of shopping malls, dining and entertainment sites.
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Devika Syamnath)
The acquisition of Miami's Brickell City Centre by Simon Property for up to $548.7 million represents a strategic move toward consolidating prime retail and office assets in the heart of Miami’S CBD.
The acquisition of Miami's Brickell City Centre by Simon Property Group, potentially worth up to $548.7 million in deals reflective the firm’sintense expansion plans and positive outlook for urban commercial real estate development.
The acquisition of Miami's Brickell City Centre by Simon Property in an up to $548.7 million deal marks a strategic investment into the region’s thriving urban center, further solidifying its position as one Smart Real Estate market.
The sale of Miami's prominent Brickell City Centre to Simon Property Group in a deal reaching up 548.7 million dollars marks the acquisition by an industry leader, paving way for further development and investment optimization that will likely revitalize regional retail landscape.
