"Foreign investors may help local real estate market" - Commercial real estate article for The Miami Herald
/By Rochelle Broder-Singer | Special to the Miami Herald | 2/2/2009
Some of the biggest commercial real estate deals of 2008 came from outside the United States:
Nakheel Hotels, managed by the Dubai government, bought 50 percent of the Fontainebleau Miami Beach hotel for $375 million. A subsidiary of Japanese investment firm Sumitomo paid $260 million for the Miami Center office tower. Hong Kong-based Swire Properties, which developed most of Brickell Key, paid $41.3 million for 5.5 vacant acres just off Brickell Avenue. And a Mexican company affiliated with the Jose Cuervo Group became partners in 396 Alhambra, a planned $130 million office project in Coral Gables.
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