Falcone Group-led JV takes over Miami Worldcenter’s retail district

Art Falcone is switching up partners at Miami Worldcenter’s retail and entertainment component, teaming up with ROK Acquisitions, Andrew Mirmelli, The Davis Companies and Jamestown to acquire the 27-acre open-air plaza in downtown Miami.  Miami Worldcenter Associates, a partnership between Falcone, Nitin Motwani and Los Angeles-based CIM Group, sold five parcels and two garages within the $6 billion master-planned community to the joint venture led by Boca Raton-based Falcone Group, a news release states.  A joint venture spokesperson declined to comment on the purchase price. But it’s a nine-figure deal, a source familiar with the transaction told The Real Deal. […]

This article originally appeared on The Real Deal. Click here to read the full story.