Brazilian Bank Takes Top Floor of Southeast Financial Center
BTG Pactual, one of the largest investment banks in Latin America, is moving up in Miami as it seeks to expand its United States business, Commercial Observer has learned.
The Brazilian bank is relocating within Southeast Financial Center, said a source familiar with the deal. The financial firm will occupy the penthouse floor, spanning approximately 15,000 square feet, the source added. The change moves BTG one floor up from its current office on the 54th floor, according to BTG Pactual’s website.
The financial services firm is expanding its U.S. wealth unit, seeking to triple the amount of overseas assets it manages in the next three years, Bloomberg reported earlier this year. Its other U.S. office is in New York at 601 Lexington Avenue, per the firm’s website.
Located at 200 South Biscayne Boulevard, the 55-story Southeast Financial Center sits one block off from the water between southeast Second and Third streets in Downtown Miami. Other tenants include law firm Reed Smith and WeWork, where hedge fund Citadel has employees stationed.
JLL’s Eric Groffman and Cameron Tallon represented the landlord, Spanish billionaire Amancio Ortega, who founded and owns fashion retailer Zara. Newmark’s Carlyle Coffin, Brian Goldman and Matthew Lorberbaum represented the tenant.
As Miami refashions itself as a business hub, financial institutions are filling up offices. Since the pandemic began, financial companies have made up 21.6 percent of office demand, up from 16.4 percent before COVID-19 hit, according to a report by Avison Young.