The Real Deal Miami

Related has Brickell site under contract for $100M

November 18, 2013 09:45AM

Jorge Perez

Jorge Perez

Already a dominant property owner and developer in Miami’s financial district, the Related Group is on the verge of acquiring another prime site for about $100 million.

The Jorge Perez-led company has a contract to purchase four waterfront acres at 444 Brickell Avenue, South Florida Business Journal reported. Related developed the 1,800-condo Icon Brickell complex across the street from the 444 Brickell site, which presently includes an office building with a Capital Grille restaurant on the ground floor. The transaction could close early this week.

Related could build a substantial amount of condos on the site and incorporate a hotel, as it did with the nearby SLS project. [South Florida Business Journal]Eric Kalis