Swire Properties sells stake in Brickell City Centre for US$548.7m
Swire Properties (HKEX:1972) has completed the sale of its interests in Brickell City Centre to Simon Property, netting up to US$548.7 million. The transaction, finalized immediately after signing, includes Swire Properties' retail, parking, and facilities interests within the urban mixed-use development in Miami's Brickell financial district. The consideration consists of a fixed payment of US$512.6 million paid in cash, and up to a US$36.1 million contingent consideration related to certain post-closing costs. Swire Properties expects to record a gain before tax of approximately US$111.6 million from the disposal on an underlying basis. The proceeds will be used to fund Swire Properties US' obligations and for general working capital.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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