The Real Deal Miami

Cousins Properties sells interest in Courvoisier Centre in Miami’s Brickell Key

Parkway Properties bought office complex in 2014 for $146M
By Amanda Rabines | December 22, 2017 12:30PM

Courvoisier Centre in Brickell Key (Credit: Courvoisier Centre website)

Cousins Properties, an Atlanta-based real estate investment trust, just sold its 20 percent interest in the Courvoisier Centre office complex in Miami’s Brickell Key for $33.9 million.

The Courvoisier Centre, a 343,000-square-foot office complex at 501 and 601 Brickell Key Drive, was purchased in 2014 by Orlando-based investor Parkway Properties for $146 million, records show. A spokesperson for Cousins declined to comment further on the trade.

Cousins’ most recent trade included its share of joint venture debt. Last year, an affiliate of Parkway scored a $106.5 million loan for the Courvoisier Centre, which includes two office buildings and a parking garage. Keybank National Association was the lender.

The office buildings feature water views, corner offices, balconies, banking facilities, a gourmet grocery store, an on-site dry cleaner and retail stores.

Last year, Cousins sold Miami Beach’s Lincoln Place office building for $80 million.