It is almost two years since the retail shops at Brickell City Centre opened, and a major investor will soon have an option to cash out.
Swire Properties owns 59.25% of the mall. Simon Property Group owns 25%, while Bal Harbour Shops owns 15.75%, the report states.
Bal Harbour Shops has an option, exercisable from the second anniversary of the grand opening of the shopping center, to sell its interest to Swire, the company said last month.
Grand opening took place on November 3, 2016.
As of June 1, 2018, 80% of shops in the mall were opened, according to Swire’s most recent investor report. 89% of the mall was considered occupied as of the same date, taking into account executed leases and letters of intent.
Brickell City Centre’s first condo tower, Reach, opened in April 2016. The East hotel opened in May 2016.