MIAMI—It's a public-private partnership deal three years in the making. Florida International University and Royal Caribbean Cruises have inked a deal to build a new rehearsal facility for shipboard performers on its Biscayne Bay campus.

The 130,000-square-foot, $20 million facility is breaking ground this week and is expected to open its doors in January 2015. With the facility on site, FIU students can tap into opportunities for training and internships in the hospitality and cruise industries.

Alan Kleber, the managing principal at Cresa South Florida who represented Royal Caribbean in the commercial real estate transaction, tells GlobeSt.com it's the most unique deal he's been involved with in his 20-year career. He called it a cutting-edge
partnership between Royal Caribbean and FIU that serves as a model for public-private partnerships in the educational realm.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.