Courvoisier Centre

Brickell, Key, FL

Courvoisier Centre

Property Summary

Type: Class A Office
Office Location: Miami, Florida
Size: 330,667 square feet

Acquisition Summary

Capital Invested: $20 million
Ownership Interest Acquired: 49%

Transaction Summary

Madison acquired a 49.0% joint venture interest in Courvoisier Centre, a 330,667 square foot waterfront office and retail complex located on Brickell Key in Miami, Florida. Madison provided new equity capital to Tishman Speyer, the existing property owner, to recapitalize the property’s balance sheet. The proceeds of the recapitalization enabled the sponsor to payoff a maturing mezzanine debt position at a discount to par, normalize the investment’s capital structure, and generate additional liquidity for future capital improvement and leasing costs.

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