The Real Deal Miami

Brickell World Plaza owner boosts mortgage to $140M

Tenants include Gunster, Berkley Insurance Company, Northern Trust

August 19, 2016 09:45AM
By Katherine Kallergis

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Brickell World Plaza (Credit: Daniel Christensen)

Brickell World Plaza (Credit: Daniel Christensen)

The owner of Brickell World Plaza, also known as 600 Brickell, just boosted its $50 million mortgage to $140 million, records show.

Brickell Holdings LLC owns the 40-story, 1-million-square-foot office tower at 600 Brickell Avenue. The developer, Foram Group, completed the LEED Platinum certified building in December 2011.

TD is the lender for the latest $90 million round of financing. The bank provided the initial $50 million mortgage for the building in January 2014, records show.

The building has 26 stories of office space and 11 for parking, according to its website. It’s also home to Tamarina Restaurant & Bar, which is owned by some of Zuma’s partners.

Tenants include Gunster, one of Florida’s biggest law firms, Berkley Insurance Company, Northern Trust, Crédit Agricole Private Banking Miami, and Beacon Hill Property Group. Gunster announced it was leaving One Biscayne Tower and moving to Brickell World Plaza in 2014 via a 12-year lease for the entire 35th floor.

The tower sits on a 1.9-acre property that last sold in 1990 for $12 million. Foram completed the 600 Brickell Avenue building in 2011 after deciding to slow down construction during the recession. Amenities include a 30,000-square-foot landscaped plaza, a fitness center and a conference center.

Jones Lang Lasalle handles leasing for Brickell World Plaza, according to the building’s website.