The Real Deal Miami

Related buys Omni debt: report

May 11, 2011 09:19PM

Related developer Jorge Perez has purchased the debt of the Omni International Mall in Miami, partnering with fellow developer Sergio Rok, according to sources. The price was more than $100 million, the sources said. Experts predict that Perez may build on the top of the parking garage on the site, or choose to demolish the property to start a new residential project. Omni, which is located at 1501 Biscayne Boulevard, also has a Hilton hotel and 400,000 square feet of office space. [SFBJ]