The proposed Miami Worldcenter project north of downtown Miami is coming back to life. The nearly 20-acre development site, which almost disintegrated during the foreclosure crisis, has a new investor. Los Angeles-based CIM Group became part owner of the nine-bock site co-owned by Boca Raton-based Falcone Group and California-based Centurion Partners.
CIM is a real estate investment company that makes equity and debt investments in urban communities across the country. CIM owns the SLS Hotel at South Beach at 1701 Collins Ave. in Miami Beach.
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