Partners Group is investing 220 million in a Breitling tower in Miami
Keystone-SDA
Swiss private equity firm Partners Group is to build a luxury apartment tower in Miami, Florida, on behalf of the watch brand Breitling.
The Zug-based group will invest $220 million on behalf of its clients in this property development, equivalent to CHF178 million at today’s exchange rate.
This 70-storey tower, named “B Residences”, will offer nearly 300 luxury homes for sale. It will be built in the upmarket Brickwell neighbourhood, home to many wealthy families and five-star hotels, according to a statement from the private equity firm, which has been the main shareholder in Swiss watch brand Breitling for three and a half years.
Construction is set to begin in 2028, with completion expected in 2031. The project will be developed by the German investment firm Empira, according to a press release issued by the asset manager on Friday.
Translated from French, sub-edited by mga
