Simon acquires Brickell City Centre in Miami

Real estate investment trust Simon Property Group has announced the acquisition of Swire Properties’ interest in the retail and parking at Brickell City Centre, in Miami.

Simon, which previously held a 25% non-managing stake in the property, now assumes full ownership and operational control of the retail and parking assets at the iconic development.

Completed in 2016, the 5 million-square-foot complex includes a 500,000 square-foot open-air shopping centre anchored by Saks Fifth Avenue. The retail component spans four levels and stretches across three city blocks, offering a curated mix of over 90 global brands and luxury retailers including Apple, Chanel Fragrance & Beauty Boutique, Coach, Lululemon, Richard Mille, Sephora, and Zara. 

Shoppers and visitors can also find more than 15 dining and entertainment venues such as Casa Tua Cucina, Tacology, The Henry, Puttshack, Motek, and the CMX luxury cinema experience.

Simon currently owns properties across North America, Europe and Asia. Notably, in Miami, it also has stakes in the Dadeland Mall, Miami International Mall and the Dolphin Mall.