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Miami Design District properties: from dingy warehouses to $2.2 billion premier luxury retail mall

Miami Design District

Miami Design District

Design District properties: from warehouse district to $2.2 billion luxury mall

Blackstone group has secured a $600 loan for a luxury mall at the Design District. According to Reuters, Bank of China will provide $250 million while Blackstone will provide a $100 million mezzanine loan. Deutsche Bank and Credit Agricole will split the balance.

A partnership which has luxury mogul  Louis Vuitton Moet Hennessy at its core is building 1.2 million square feet of retail space across 20 buildings in the Design District. Half of the 120 stores in the plan have opened in 2014, and it is already impressive with Louis Vuitton, Cartier and Piaget stores around a glass courtyard with a sculpture by Buckminster Fuller.  But you should hold your jaw from dropping until you see the full project completed by 2016, valued at $2.2 billion…that’s a lot of luxury va-va-voom. 

Design District properties have shown again that the true magic kingdom is not Disney’s but Miami’s. An area that was not long ago a bunch of ran down warehouses where you would not even get out of your car after sundown is now one of the most glamorous spots you can imagine. The value of Design District properties has increased astronomically adding in many cases more than one zero.  The big question for real estate investors appears to be “where will these visionaries go next?”, but the real question is “do you have the guts to follow them?”. Keep in mind that when they started, there was absolutely nothing there indicating that this could become the trendiest luxury hub. It takes deep pockets or a gambling nature and an adrenaline personality to embark on that sort of risk, but although serious money is necessary to buy Design District properties now, you can still find interesting deals in the immediate surroundings. Counting on the expansion of the Design embracing its outskirts seems like a pretty conservative bid.

If you are interested in more information about Design District properties and its surroundings, as well as other upcoming areas contact us now. Don’t let opportunity pass you by: 786-251-9513  buymiamirealestate@gmail.com

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