Bal Harbour Shops Owns A 12.5% Stake In Brickell City Centre Retail

Bal Harbour Shops owns a 12.5% stake in the retail portion of Brickell City Centre.

That information was revealed in the most recent report to shareholders issued by developer Swire Properties. The remainder of the project, including the hotel, residential and office components are 100% owned by Swire.

Swire told shareholders that between June and mid-August, they had sold 204 of 390 units in City Centre’s Reach tower (as of late last month that had risen to 60% sold, according to brokers). Completion and closings are scheduled for late 2015 into 2016.

The company also said that they are continuing to prepare for the second phase of the project, an 80-story tower at 700 Brickell. The 1.3 million square foot tower is planned to open in 2019.

Brokers for the residential portion of the project recently unveiled a revamped website with new renderings and 360-degree views.