LONDON (dpa-AFX) - Prudential Real Estate Investors or PREI, the real estate investment management and advisory business of Prudential Financial, Inc. (PRU) announced that it has acquired Sabadell Financial Center, a 30-story, Class-A office tower in Miami's Brickell Financial District.
PREI said it purchased the building, also known as 1111 Brickell, for $185 million from an affiliate of Spanish real estate firm Testa Inmuebles en Renta, S.A. The transaction closed on April 12.
Known as 'the Manhattan of the South,' Brickell has the largest concentration of international banks in the U.S. and is one of the fastest growing residential neighborhoods in Miami.
Spearheading the leasing and marketing for Sabadell Financial Center is Blanca Commercial Real Estate, a Miami-based commercial real estate brokerage and advisory firm.
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