$60 Million Acquisition of Parking Structure in Downtown Miami

Wealth Capital Management

Representation of Wealth Capital Management, a United States subsidiary of one of Germany's largest sponsors of closed-end real estate mutual funds, in negotiations for the $60 million acquisition of the 1,300-space, city-owned parking structure servicing the I.M. Pei-designed Bank of America office tower in downtown Miami, Florida. We represented the client in its ownership of the 600,000 square foot air rights office tower above the municipal garage, and in buying the garage, which significantly enhanced the value of the project by giving our client control over its own parking.

John C. Sumberg
Founder, Chairman
Albert E. Dotson, Jr.
Chief Executive Officer & Managing Partner
Counsel to debtor in possession in the chapter 11 case of Cabi SMA Tower I LLLP, the developer of a proposed $60 million mixed-use facility on a 2.73-acre entire city block in the Brickell area of Downtown Miami. The case was an extremely contentious chapter 11 which resulted in the confirmation of ...
Representation of HRM Owner, a joint venture between Hyatt and Gencom, in successfully navigating the procurement process and securing a ground lease with the City of Miami as part of a $1.5 billion mixed-use development along the Miami River to include hotel, convention, commercial and multi-family...
Representation of Miami Design District Associates, a joint venture between Craig Robins of Dacra, L Catterton Real Estate, a global real estate development fund, and Brookfield Properties in transforming a neglected downtown area into a high-end shopping destination by property acquisitions and fin...