CI Financial recently signed a 10-year lease for its new headquarters in Miami’s Brickell Financial District. The Canadian wealth management firm will occupy approximately 20,000 square feet of prime Miami office space on the 48e floor of 830 Brickell, with a Expansion option of 45,000 square meters in the future. The 55-storey tower is currently owned by Cain International and OKO Group and is due for completion in 2022.
The tenant was represented by Donna Abood and Mark Robbins of Avison Young, while Brian Gale, Ryan Holtzman and Andrew Trench of Cushman & Wakefield negotiated on behalf of the landlords.
The tenant plans to move in at the end of next year and is moving its national operations and employees to operate its platform in the US known as CI Private Wealth. Meanwhile, management will split its time between the company’s Miami and Toronto offices.
While construction is still underway, 830 Brickell is already 40% pre-let, having previously signed private equity firm Thoma Bravo for 36,500 square feet and Microsoft for 50,000 square feet.
Both New York and Dallas were shortlisted by CI Financial for its new US facility, but Miami ended up being the Toronto-based company’s preferred choice.
“Miami is an incredible place to locate our US headquarters and support our fast-growing US operations,” said Kurt MacAlpine, chief executive officer of CI Financial. “It serves as the next logical step for our expansion plans as we work to build the leading wealth management platform in the country. In addition, Miami is a vibrant, multicultural city with a deep talent pool, an attractive location for recruitment and a very business-friendly environment.”
Miami Mayor Francis Suarez added, “CI Financial is the largest financial institution to ever establish a headquarters in South Florida. The importance of this cannot be overstated and takes us further towards our goal of becoming the ‘capital of capital’. We thank Kurt MacAlpine, the board of directors, their executive team and our own Venture Miami team for supporting their move to the city of Miami.”
But CI Financial is not alone big name in finance and investment growing its market presence in South Florida. Since the start of the pandemic, companies like Blackstone, Citadel, Apollo Global Management, Millennium Management and Goldman Sachs have also taken steps to expand there.
Last modified: September 17, 2021