By Brosda and Bentley
Read more: https://medium.com/@sunnyislesbeachrealty
In an exciting development, Aimco has announced its intention to sell two sought-after waterfront towers in Miami’s vibrant Brickell neighborhood. The Denver-based real estate investment trust is ready to part ways with a 32-story office building at 1001 Brickell Bay Drive and the adjacent 31-story apartment high-rise, known as the Yacht Club.
Prime Location, Prime Investment
Strategically located on 4.25 acres facing Biscayne Bay, these properties are a prime investment opportunity. Aimco, having owned the 95 percent stake in the 517,450-square-foot office skyscraper since 2019, is now looking to monetize its assets in line with its capital allocation strategy.
Timing and Expectations
President and CEO Wes Powell, in the third-quarter filing, stated that the sale is expected to conclude by the end of 2024. Although the sale price has not been disclosed, the surrounding area has witnessed top-dollar transactions in recent years.
Brickell’s Investment Landscape
Brickell has been a hotspot for real estate transactions, with notable purchases by major players like Citadel and Monarch Alternative Capital. The vibrant neighborhood’s allure continues to attract significant investments, making Aimco’s offering a compelling prospect.
Don’t Miss Out on this Prime Opportunity
As we eagerly await more details on this exclusive offering, investors and real estate enthusiasts are encouraged to stay tuned. Seize the chance to be part of Miami’s dynamic real estate landscape!
#BrickellTowers #MiamiRealEstate #InvestmentOpportunity
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