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David Simon Of Simon Property Group Acquires Brickell City Centre Retail In Miami For $512M

Property Image
SOLD
$512,000,000

Florida

See Similar Deals
Retail
Sold 06/27/2025
the dealdetailscomps
Property Image
SOLD

David Simon Of Simon Property Group Acquires Brickell City Centre Retail In Miami For $512M

701 South Miami Avenue

See Similar Deals
Retail
Sold 06/27/2025
the dealdetailscomps

Summary

FLORIDA
Asset Type:Retail
Transaction Type:Sale

The transaction involves a retail asset located at 701 South Miami Avenue in the Miami market. This sale includes the retail and parking components of Brickell City Centre, acquired for $512 million, reflecting a significant investment in the area. The asset is part of a larger urban development, indicating its strategic importance.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $512,000,000
  • Buyer: David Simon
  • Buyer's Company: Simon Property Group
  • Seller: Henry Bott
  • Seller's Company: Swire Properties
  • Date of Sale: 06/27/2025

David Simon, representing Simon Property Group, has acquired full ownership of the mentioned asset, thereby buying out Swire Properties' remaining stake. Henry Bott, as the representative of Swire Properties, will use the proceeds from this transaction to fund various new developments, which notably includes a Mandarin Oriental-branded condo tower on Brickell Key.

Players

Simon Property Group
Simon Property Group
BUYER
Simon Property Group
Simon Property Group
BUYER
Swire Properties
Swire Properties
SELLER
Swire Properties
Swire Properties
SELLER

Details

SOLD
IMAGE: IMAGE: Henry Bott & David Simon DATE: 06/27/2025 ADDRESS: 701 South Miami Avenue MARKET: Miami ASSET TYPE: Retail BUYER: David Simon - Simon Property Group (@SimonPropertyGroup) SELLER: Henry Bott - Swire Properties (@SwirePropertiesUSA) SALE PRICE: $512,000,000 NOTE: Simon Property Group acquired full ownership of the retail and parking components of Brickell City Centre in Miami for $512 million, buying out Swire Properties’ remaining stake. Swire will use proceeds to fund new developments, including a Mandarin Oriental-branded condo tower on Brickell Key.

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Operating Expenses (Annual)
Net Operating Income (NOI)

$27,306,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$1,819,027.85
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,427,141.21
Annual Debt Service$29,125,694.52