May 2021

Developer Swire Properties has announced that it will begin focusing on developing the remaining phases at Brickell City Centre after completing a selloff of condo units there.
 
Swire sold the final 81 condo units at the Reach and Rise condo towers to a partnership between KAR Properties and Fortune International Group for an undisclosed sum, in a deal that was announced last week.
 
“Swire Properties is delighted to sell the remaining inventory of 81 units to respected investors KAR Properties and Fortune International Group, in a significant transaction that reflects their shared commitment to this outstanding product and belief in Brickell City Centre,” said Kieran Bowers, President of Swire Properties. “Swire Properties will continue to invest in Brickell over the coming years and attention will now turn to the development of the remaining phases and parcels surrounding Brickell City Centre.”
 
Swire also sold two office towers at Brickell City Centre in July 2020 for $163 million, and plans to recycle the funds into new projects.
 
At least four new potential towers could be built by Swire at Brickell City Centre.
 
Swire has plans for an 80-story, 1,049-foot supertower called One Brickell City Centre with a mix of uses, serving as the Brickell Avenue entrance to the complex.
 
The developer has also submitted plans for a 62-story tower on the Associated Photo site next to Brickell City Centre.
 
Another 52-story tower is planned on the former Tobacco Road property.
 
Swire also owns a lot known as North Squared, across the street from La Centrale at Brickell City Centre.
 

Read the full article.