Skyline Equities Completes $90M Brickell Condo Acquisition

MIAMI-The local office of Chicago-based Skyline Equity Realty closed on its previously contracted acquisition of Skyline at Brickell for $90 million from the developer, BCOM Inc. The sale price equals $250,000 per unit for the 360-unit condominium tower,

The advisors to the seller were Jay H. Massirman, EVP; Robert Given, VP, and Charles Crapse, senior associate in the Miami office of CB Richard Ellis.

BCOM initially named the project Brickell Bay Village and envisioned it as a rental property. However, in January 2002, prior to groundbreaking, the CBRE advisor team sourced Chicago-based Skyline Equity, a developer and converter of luxury condos, to contract the property as a pre-sale investment opportunity. Equity signed and, Givens tells GlobeSt.com, Evangeline Goulitas, CEO of Miami’s Skyline operation, spearheaded the process of pre-selling condominiums. The property remained under contract to Skyline through construction and completed the purchase this month when the building received its certificate of occupancy.