Home›Real Estate›Commercial›Ken Griffin closes $1.1B cash purchase of Wynwood land

Ken Griffin closes $1.1B cash purchase of Wynwood land

Commercial Observer says the deal closed this week without outside debt, and Griffin also pledged an additional $2.0 billion to Carnegie Mellon University, bringing his total giving to $3.0 billion.

Reported · Written up by our desk · Commercial

Ken Griffin has closed a large commercial real estate transaction in Miami’s Wynwood, with the purchase valued at $1.1 billion in a cash deal, according to Commercial Observer.

The outlet reports that Griffin’s staff initially offered about $800 million for Moishe Mana’s 35-acre portfolio, and Mana first rejected the proposal before later agreeing after three days.

Commercial Observer adds that the transaction closed this week without any outside debt or partners for Griffin, and it is described as one of the largest commercial real estate deals in the country’s history.

The report also says Griffin pledged an additional $2.0 billion to Carnegie Mellon University, bringing his total giving to $3.0 billion, with the gift described as the largest combined donation to higher education from a private individual.

More like this

Sources