The Melo Group has acquired 2.83 acres of premium land from Swire Properties at 700-799 Brickell Avenue, strategically located next to Brickell City Centre, Miami’s premier shopping and culinary destination. The acquisition, valued at $211.5 million with the potential to increase to $221.5 million, was completed as an all cash deal. This acquisition places The Melo Group in a strategic position with unique and irreplaceable land next to Brickell City Centre which was previously the site for Swire Properties and Related Companies proposed One Brickell City Centre supertall office tower.
“This transaction was executed between both companies with remarkable collaboration and precision. We extend our sincere gratitude to Swire Properties, its president, Henry Bott, and the entire team for their professionalism and collaboration in ensuring a seamless process,” said Martin Melo, Principal at The Melo Group. “We are pleased to have secured such a significant property and look forward to unlocking its full potential in the heart of Brickell.”
The Melo Group is currently building waterfront dual tower Aria Reserve, a luxury enclave in the popular Edgewater neighborhood in Miami, and Downtown 6, a rental community in downtown Miami. They have built more over 8,000 units in the Downtown Miami area over the past 15 years.
“We have chosen this land in Miami’s urban core because we have witnessed its remarkable growth, continue to see its immense potential, and appreciate how vibrantly it has evolved into a cosmopolitan city.” Adds Carlos Melo, Principal at The Melo Group.
CBRE successfully marketed and facilitated the sale of the property on behalf of Swire Properties, with efforts led by Robert Given, Troy Ballard, Brad Capas, and James Quinn. "For a project of this scale and complexity, the buyers moved remarkably fast," said Given. "With their deep expertise in Miami, the Melo Group swiftly recognized the quality of the site and committed to an aggressive acquisition timeline."