Written by Miami Today on March 8, 2012
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MEGA-PROJECT MILLIONS: Swire Properties Inc. said Tuesday it has secured a $140 million loan to fund operations and initial development for its massive Brickell CitiCentre project in Miami’s downtown financial district. Regarding the loan from HSBC Bank USA, Swire Properties Chief Executive Martin Cubbon said: "We are a highly-respected developer in Miami with 30 years of operational experience in the city and strong relationships with the community. Miami’s economy is benefitting from investments by its neighbors from South America, and we see strong growth potential for the city. The location of Brickell CitiCentre offers an excellent opportunity to draw market share from local businesses and residents, as well as visitors. We’re confident that Brickell CitiCentre will transform the Brickell neighborhood and become a key urban destination." The project is being carried out by the US subsidiary of Hong Kong-based development giant Swire Properties Ltd. Slated for completion in late 2015, the first phase of the estimated $700 million CitiCentre project will comprise about 4.3 million square feet, including 520,000 square feet of retail shops, 800 condominium units in two towers, 243 hotel rooms, 93 serviced apartments and two office towers of 110,000 square feet each, the company said.
SUMMER HEAT: Buzz in the local entertainment community is that Marvel Studios will bring a major motion picture — tentatively titled "Caged Heat" — to Miami this summer. "We’ve heard they’re coming," said Sandy Lighterman, film and entertainment industry liaison for the Miami-Dade County Office of Film and Entertainment, "and we’re here to help."
SHIPSHAPE: In what it calls the company’s largest makeover ever, Carnival Cruise Lines plans to add 182 cabins to the Carnival Destiny and rename it Carnival Sunshine. The refit, announced Tuesday, includes the addition of a partial deck and the expansion of two decks. The reconfiguration of the Miami-owned line’s vessel will take 49 days from February to April 2013. The relaunched ship will first run nine- and 12-day voyages from Barcelona and Venice, then go to year-round Caribbean voyages from New Orleans. The company says the refit will cost $155 million.
LAND DEAL: Southern Logistics International Ltd. has bought 1.82 vacant acres zoned heavy industrial at 25th Street and Northwest 110th Avenue in Doral. Sperry Van Ness South Commercial Real Estate Advisors completed the $1.3 million all-cash deal. Southern Logistics had been searching for a location for its US headquarters.
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