Mary Brickell Village Changes Ownership In $113.5 Millon Deal

Sep 08, 2015 No Comments by

Quebec-based Ivanhoe Cambridge has sold Mary Brickell Village for $113.5 million, according to a deed filed in Miami-Dade County records last Thursday.

Boston-based Rockpoint Group is the buyer.

Ivanhoe Cambridge affiliate Brickell Main Street LLLP sold the mall to MB Village Owner LLC, a company tied to Rockpoint Group, a real estate private equity group. The affiliate also closed on a $62.25 million mortgage from ONC Bank National Association, records show.

Mary Brickell Village, a 195,188-square-foot shopping center in Miami’s Brickell area, was completed in 2007. It includes 59 stores and 800 parking spaces, according to Ivanhoe’s website. Tenants of the shopping center include the Oceanaire Seafood Room, Rosa Mexicano, Fado Irish Bar, Blo Blow Dry Bar, L.A. Fitness and Publix. The sale does not include the residential condos at Nine at Mary Brickell Village, which share the same site, at 911 Southwest First Avenue, 900 South Miami Avenue and 901 South Miami Avenue, which is across the street.

Rockpoint, which has hotels in Key West and the site of the Seashore condo tower in Sunny Isles Beach, already has a presence in the area with Brickell Heights. Rockpoint affiliates recently closed on a $160.5 million construction loan for its two condominium towers.

 

Source:  The Real Deal

 

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Industry News, Miami-Dade County Retail, NA, Retail
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