MIAMI & BOSTON--(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