Brightline parent lists marquee downtown real estate holding for half a billion dollars

Rob Wile
·2 min read

Brightline’s parent company, Florida East Coast Industries, is listing its marquee downtown real estate holding for $500 million — believed to be the largest multifamily asset for sale in the southeastern U.S.

The property, ParkLine Miami, comprises a 44-story north tower and 47-story south tower for a total of 816 luxury residential units, built above Brightline’s MiamiCentral rail depot. The project is already more than 90% leased. Construction was completed in February of 2020.

“This is a rare opportunity indeed, as the towers sit directly atop and are connected to the Brightline train platforms, in addition to three other modes of rail transportation and over 160,000 square feet of retail in MiamiCentral,” said Robert Given, executive vice chairman at Cushman & Wakefield, the real estate firm handling the listing, in a statement. “MiamiCentral will undeniably be the center of gravity of the Miami MSA for generations to come.”

Residents at ParkLine Miami have direct elevator access to the MiamiCentral Brightline station along with the station’s new, 26,000-square-foot Citizens culinary center by Miami-based C3.

According to a release, ParkLine Miami’s residents also will benefit from Brightline’s new, first-of-its-kind, door-to-door service.

“This will include a fleet of both private and third-party-vendor vehicles supporting point-to-point service beyond the train and making a car-optional lifestyle possible,” FECI says. “All services will be available through the Brightline app and will further create transportation access to everything from scooters, bikes and electric micro-rides to shuttles and chauffeured Teslas.”

“ParkLine is the definition of metropolitan living and FECI strategically built these two towers above Brightline to offer a car-optional lifestyle and promote alternative, eco-friendly transportation options,” said Sarah Watterson, chief development officer at FECI. “More and more, people who live at the core of major cities today seek a lifestyle of interconnectivity without sacrificing time and money. ParkLine is meeting those needs and more with its integration to Brightline.”

Regular Brightline service is set to come back online in November.