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Japanese Firm Snags Miami Worldcenter Site for $89M

Source: therealdeal.com

Tokyo-based Kasumigaseki Capital bought a development parcel in Miami Worldcenter for $88.8 million.
The seller, led by E11even Miami co-founder Marc Roberts, provided $45 million in financing.
This marks Kasumigaseki Capital's first purchase in the U.S. on a still-vacant site once planned for a 53-story tower.

A Japanese developer just snapped up a key piece of the massive Miami Worldcenter project, a 27-acre downtown revival turning old parking lots into towers, shops, and homes. The deal shows foreign money pouring into Miami's hot real estate scene as the neighborhood nears completion with big-name players already building there.