Partners Group is investing around $220m (€175m) to develop a luxury condominium tower in Florida as part of the launch of a new US residential strategy.
The global private markets investor has introduced its B Residences strategy to deliver the Breitling-branded 70-storey flagship tower in Miami.
Construction on the one-acre-plus is expected to commence in late 2028, with completion targeted for 2031.
The project site is one of the last remaining prime central development sites in the Brickell neighbourhood of Miami.
Partners Group said it will build B Residences alongside Empira Group, the residential real estate investor, operator and developer that the firm acquired last year. Swiss luxury watchmaker Breitling is part of the Partners Group portfolio.
Alfred Gantner, co-founder, member of the board of directors, Partners Group, and chairman of the board, Breitling, said: “This is a highly differentiated branded residences strategy, with the long-term private capital, development expertise and brand coming from within the same group.
“B Residences represents a compelling new chapter in Breitling’s story, where the brand’s bold spirit will translate more than a century of Swiss mechanical precision, knowhow and heritage into the built environment. We look forward to working with Empira and Breitling on bringing this strategy to market.”
Lahcen Knapp, founder and chairman of the board, Empira, said: “We have strong conviction in the B Residences strategy. Branded residences can carry a significant global price premium, particularly when combining the lifestyle appeal of an active global city such as Miami and the built-in marketing narrative of a heritage brand like Breitling.
“It was a natural fit to secure one of the last remaining prime development sites in the heart of Brickell, which is near one of the most successful mixed-use complexes in the US.”
Georges Kern, CEO of Breitling, said: “B Residences is about enhancing brand equity and creating more than a place to live – it’s about creating a lifestyle and a true sense of community. Every space, every design detail and every experience at B Residences will be intrinsically Breitling: refined, relaxed and thoughtfully curated to bring people together.
“Just like in our boutiques, we want residents to feel immediately connected to our brand universe and global community. We look forward to shaping this vision together and bringing Breitling’s values and style into luxury condominium living.”
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