Rockpoint Partners with Ivanhoé Cambridge to Recapitalize Miami’s Iconic Mary Brickell Village
September 04 2015 - 2:40PM
Business Wire
Rockpoint Group, L.L.C. (“Rockpoint”) announced today that it
has partnered with Ivanhoé Cambridge to recapitalize Mary Brickell
Village, a retail and lifestyle center located at 901 South Miami
Avenue, near the city’s financial district. Ivanhoé Cambridge will
continue to hold a minority interest and Rockpoint will become the
majority owner. Terms of the transaction were not disclosed.
Originally developed in 2008, the 195,988 square foot property
is a popular downtown destination both day and night, occupied by
more than 50 stores and restaurants, including Publix, LA Fitness,
P.F. Changs China Bistro, Fado Irish Pub, Oceanaire Seafood Room,
Rosa Mexicana, Blue Martini and Brother Jimmys. Mary Brickell
Village is served by the Miami Metrorail at Brickell Station and by
the Metromover.
About Rockpoint Group
Rockpoint Group, L.L.C. is a real
estate private equity firm headquartered in Boston,
with additional primary offices in Dallas and San Francisco.
Rockpoint is led by Bill Walton and Keith Gelb, who are co-founders
and Managing Members of Rockpoint and have been working and
investing together for more than 20 years. Rockpoint’s additional
Managing Members, who have been working together for almost 16
years, include Tom Gilbane and Aric Shalev. Since 1994, Rockpoint’s
Founding Managing Members with others have sponsored twelve
commingled funds and related co-investment vehicles, raising
approximately $16 billion in capital commitments and investing more
than $12 billion of equity in over 360 transactions with a total
capitalization of approximately $46 billion. Rockpoint employs a
fundamental value approach to investing in both its opportunistic
and lower-risk strategies and focuses on select product types and
geographic regions, with a primary emphasis on opportunities in
major coastal markets in the United States.
About Ivanhoé Cambridge
Ivanhoé Cambridge, a global real estate industry leader,
invests in high-quality properties and companies in select cities
around the world. It does so prudently with a long-term view to
optimize risk-adjusted returns. Founded in Quebec in 1953, Ivanhoé
Cambridge has built a vertically integrated business across Canada.
Internationally, the Company invests alongside key partners that
are leaders in their respective markets. Through subsidiaries and
partnerships, Ivanhoé Cambridge has direct or indirect interests in
over 160 million ft2 (up to 15 million m2) of office, retail and
logistics properties as well as in more than 23,000
multiresidential units. Ivanhoé Cambridge held more than Cdn$48
billion in total assets as at June 30, 2015. The Company is a real
estate subsidiary of the Caisse de dépôt et placement du Québec
(cdpq.com), one of Canada's leading institutional fund managers.
For further information: ivanhoecambridge.com
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Owen Blicksilver Public Relations, Inc.Caroline Luz,
203-656-2829caroline@blicksilverpr.com