In a major real estate move, U.S.-based Simon Property Group has acquired the remaining retail and parking components of Miami’s iconic Brickell City Centre from Swire Properties in a transaction valued at up to $548.7 million.
Simon Property, which had previously held a 25% stake in the retail segment since 2025, now assumes full control of this premier mixed-use destination located in the heart of Miami’s financial district. According to Swire, the proceeds from the sale will support the funding needs of its U.S. operations and bolster general working capital.
Spanning four levels and home to over 90 stores, Brickell City Centre’s retail experience is anchored by Saks Fifth Avenue and includes a curated mix of global luxury, fashion, and lifestyle brands. The centre is a key component of a larger, transformative development that features residential towers, office space, and the EAST Miami hotel.
Simon Property Group, a leading REIT known for its extensive portfolio of high-end shopping and entertainment destinations, continues to expand its footprint in South Florida’s luxury market with this strategic acquisition.
As Brickell continues to evolve as one of the most desirable urban cores in the U.S., this acquisition signals strong confidence in Miami's long-term growth and global appeal.
Source: Reuters
