Swire gets $150M loan, prepares construction on Brickell CitiCentre

Miami /
Mar.March 08, 2012 04:30 PM

Swire Properties has secured $140 million in financing to begin work on the first phase of its massive Brickell CitiCentre development, the South Florida Business Journal reported. Thanks to the loan, which comes from HSBC Bank, the first phase of the $1 billion project could be complete before 2015 is through.

The loan will be used to fund design, development and some construction costs for the 520,000 square feet of retail, three residential towers, two 110,000-square-foot office towers, 243-room hotel with 93 apartments and 3,100 parking spaces that comprise the first phase. The second phase calls for a 750,000-square-foot office tower.

The project is planned for 9.1 acres between Brickell and South Miami avenues from Southeast Sixth through Southwest Eighth streets. Swire CEO Martin Cubbon said the development “will transform the Brickell neighborhood” that’s “benefiting from investments by its neighbors from South America.” [SFBJ]


Related Articles

arrow_forward_ios
Harvey Hernandez and a rendering of his Brickell project
Harvey Hernandez plans three-tower project on riverfront Brickell site
Harvey Hernandez plans three-tower project on riverfront Brickell site
Vlad Doronin, Jonathan Goldstein and CEO Satya Nadella (Getty)
Microsoft to lease 50K sf office at under-construction Brickell tower
Microsoft to lease 50K sf office at under-construction Brickell tower
3 MiamiCentral (iStock, Poma Architectural Metals)
Lease roundup: Uber takes space in downtown Miami, six retailers open at Brickell City Centre
Lease roundup: Uber takes space in downtown Miami, six retailers open at Brickell City Centre
Pedro Villar of Sunview Companies with the hotel (Marriott, LinkedIn via Villar)
Owner of Aloft Miami Brickell hotel files for bankruptcy
Owner of Aloft Miami Brickell hotel files for bankruptcy
Federal prosecutors allege Naman Wakil laundered ill-gotten Venezuelan contracts with Miami area condo purchases (Getty)
Miami man charged in Venezuelan money laundering scheme, allegedly using proceeds to buy condos
Miami man charged in Venezuelan money laundering scheme, allegedly using proceeds to buy condos
Black Lion CEO Robert Rivani with SLS Lux Brickell (LinkedIn via Rivani, Facebook via SLS Lux Brickell)
Black Lion buys SLS Lux Brickell retail condo for $14M
Black Lion buys SLS Lux Brickell retail condo for $14M
Nadim Ashi of Fort Partners with the hotel (Four Seasons, Fort)
Fort Partners buys Four Seasons Brickell hotel for $130M
Fort Partners buys Four Seasons Brickell hotel for $130M
Guillermo Lasso and the Asia Brickell Key condo in Miami
Ecuadorian president’s alleged Florida real estate ties raise questions
Ecuadorian president’s alleged Florida real estate ties raise questions
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...