Swire Properties Brickell Land Sale: $45M Deal with Kerzner International

Swire Properties Brickell Sell-Off Continues with Major Land Deal

Swire Properties is continuing to exit the Brickell real estate market. The developer sold a one-acre site at 9 Southeast Sixth Street for $45 million. The buyer, Kerzner International, is best known for launching the Atlantis resort brand.

The site sits between the Miami River and Brickell City Centre, a major mixed-use project Swire previously developed. This sale shows Swire’s ongoing effort to shift away from its Brickell holdings.

Swire Refocuses as Brickell Properties Change Hands

This deal follows other large transactions. In May, Swire sold another Brickell site for $211 million to Melo Group. That site was originally intended for a supertall office tower in partnership with Related Companies. However, the project never moved forward.

In June, Swire sold the Brickell City Centre mall to Simon Properties for $512 million. Since 2020, it has also sold two office towers for $163 million and a hotel for $174 million. Clearly, the firm is actively downsizing its presence in the district.

Brickell Key Is the Next Chapter

Swire now plans to build The Residences at Mandarin Oriental on nearby Brickell Key. The Mandarin Oriental hotel closed earlier this year. Although construction hasn’t started yet, the project is in development. Recently, the Brickell Key Master Association restricted public access to the island. This decision followed the hotel’s closure.

Kerzner Grows Global Portfolio with High-Profile Projects

Kerzner International once founded the Atlantis resort chain. While it sold the brand to Dubai’s sovereign wealth fund, the company still operates several properties. In 2023, Kerzner opened Atlantis The Royal in Dubai. The $1.2 billion resort launched with a Beyoncé concert and attracted global celebrities.

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