$60 Million Acquisition of Parking Structure for Iconic Bank of America Building in 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.

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