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701 South Miami Avenue

Updated Oct 13, 2026

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

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

701 South Miami Avenue

$512,000,000

Building Size

—

Asset Type

Retail

Closing

Jun 27, 2025

About this deal

AI

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:

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.

On the Map

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$512,000,000

Retail

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Players

David Simon

Simon Property Group

Buyer

$6B

vol

15 deals

Buyer
Simon Property Group
Simon Property GroupBuyer
Henry Bott

Henry Bott

Swire Properties

Seller

$768.5M

vol

3 deals

Seller
Swire Properties
Swire PropertiesSeller
Bilt advertisement

Miami Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.03%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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