Bank of America Tower (Miami Tower)-Miami, Florida
Type: Office Acquisition and Retail Renovation
Client: National Office Partners
Size: 600,000 square feet
Acquired in 1998 by the Hines National Office Partners fund, this I.M. Pei designed iconic office building was one of the largest office assets in the Miami area. The building is located in the air rights over a City-owned multi-story parking garage. Being adjacent to the Knight Convention Center and a Metro-mover train station made the acquisition more complex.
Role: Roth was involved in the acquisition and underwriting of the asset in 1998 and the disposition in 2003. After disposition Roth remained involved in the project in an asset management capacity overseeing the leasing and management team within Hines and interfacing with the new ownership group. Roth was also involved in developing the vision for the renovation of the lobby into a retail arcade. Ownership ultimately pursued the retail renovations adding significant value to the investment.