Blumberg fund to sell Brickell office tower
An investment fund run by prominent real estate investor Philip Blumberg, who is facing drug possession charges, is selling a 15-story office tower on Brickell Avenue for more than $60 million, part of the fund’s strategy to take profits amid the hot commercial real estate market.
American Ventures Property Fund has a contract to sell the 1401 Brickell Ave. building in Miami to Testa, a Madrid real estate firm that also owns the Mellon Financial Center office building in the Brickell area.