Dubai-based hospitality firm Kerzner International bought a Brickell City Centre development site for $45 million.
The deal marks Swire Properties’ continued divestment of Brickell City Centre, nearly a decade after completing the mixed-use complex.
Kerzner bought the nearly 1-acre vacant property at 9 Southeast Sixth Street in Miami from Swire Properties, the real estate arm of Hong Kong-based Swire, according to records and property database Vizzda. The property is proposed for a development with 350 condos and 180 hotel keys with ground-floor retail.
Led by Philippe Zuber, Kerzner’s brands include Atlantis Resorts, One&Only, Siro resorts and Rare Finds. Its website does not list any U.S. hotels. The firm was founded in 1993 by late South African business tycoon Solomon ‘Sol’ Kerzner.
As of now, “no project in Miami has been confirmed,” a Kerzner representative said via email.
Kerzner “is always exploring opportunities to grow its portfolio of ultra-luxury resorts,” the representative said.
Swire, led by Henry Bott, completed Brickell City Centre, which spans roughly five city blocks, in 2016. The project consists of about 500,000 square feet of retail; the 43-story Reach and Rise condo buildings; the 352-key East Hotel at Brickell City Centre; and a pair of office buildings.
The firm has been steadily divesting of the mixed-use complex, shedding two major sites this year. In June, Swire sold its 75 percent stake in the retail portion of Brickell City Centre and the underground parking garages to Simon Property Group for $512 million. Simon already owned a 25 percent stake in the properties.
In May, Swire sold a 2.8-acre development site, scrapping plans for an office supertall. Miami-based Melo Group, led by the Argentine Melo family, bought the property for $211.5 million.
Funds tied to Trinity Fund Advisors and Certares Real Estate Management bought the East Hotel for $174 million in 2021. Northwood Investors paid $163 million for the Two Brickell City Centre and Three Brickell City Centre office buildings in 2020.
Kerzner is at least the second Dubai-based real estate firm to home in on a prime South Florida development site. Damac Properties, led by Hussain Sajwani, bought the 1.8-acre oceanfront Surfside collapse site in 2022 for $120 million. Champlain Towers South had collapsed in 2021, killing 98 people. Damac plans the 12-story, 37-unit Zaha Hadid Architects-designed Delmore condo.
