Recent Transactions in Greater Miami Affecting Global Trade and Investment

November Transactions

HOSPITALITY GROUP MOVES

Noble 33 announced that it was moving its global headquarters to Miami from Los Angeles, with plans to hire 700 by 2025. The hospitality group will also open four new restaurants next year as part of its South Florida expansion. Noble 33 has restaurants in London, LA, Las Vegas, New York, Toronto, and Arizona.

COOLEY LAUNCH

International law firm Cooley has opened an office in Miami, making it the firm’s 19th global office. Cooley’s new Miami location will support companies and their investors based in Florida and Latin America. Cooley currently has almost 1,400 lawyers across 18 offices in the U.S., Asia and Europe.

UBER’S PUSH FOR E-CARS

Uber launched its ‘Global Platform Incentives and Facilities Program’ in Miami to encourage drivers to change their vehicles to electric ones. For every trip they take in a zero-emission vehicle, drivers will receive an additional dollar as well as incentives of up to $1,000 for buying an e-vehicle.

AUSTRIAN COMPANY IN MIAMI

F/List, an Austrian producer of residential, commercial, and aviation interiors, has opened two facilities in Broward County. One location is a showroom for homes and businesses; the other will be used as a workshop to deliver products to private jet clients at Ft. Lauderdale Executive Airport.

BEZOS MOVES TO MIAMI

Amazon founder Jeff Bezos announced on Instagram that he will be moving to Miami after living in Seattle for 29 years. Bezos, above, wants to be near his parents and closer to some operations of his space company, Blue Origin. Bezos, who graduated high school in South Florida, has already bought three multi-million-dollar homes in the area (see Real Estate story pg. 34).

MEXICAN COMPANY ACQUIRED

Miami-based private equity firm H.I.G. Capital, managing $60 billion in assets, has acquired Suministro de Especialidades, a Mexican thermoplastic distributor, through its portfolio company, Formerra. The financial details remain undisclosed.

DOMINICAN BANKING

The Dominican Republic’s Banreservas has opened an office in Miami’s Brickell Financial District, extending its services to Domini- cans overseas. The Miami branch is the third expansion abroad for Banreservas, joining its New York and Madrid branches.

SCANDINAVIAN FLIGHTS

Scandinavian Airlines has begun flying non-stop flights between Scandinavia and Miami. Miami-Copenhagen flights now run five times a week. Miami-Stockholm runs twice weekly.

COLOMBIAN BANKING

Colombian wealth and asset firm Alianza Corp. has opened a registered investment advisor (RIA) office in Miami to provide its clients with offshore management services.

NEW ROUTES TO MEXICO

On March 28, 2024, American Airlines will launch service to Tulum’s new Felipe Carrillo Puerto International Airport (TQO). The airline will operate daily flights from Miami with a 737 aircraft.

2024 COPA FINAL IN MIAMI

Next summer, the final match of the 2024 Copa America Tournament will be held at the Hard Rock Stadium in Miami on July 14th. Copa America features all 10 national teams from South America: Argentina, Brazil, Bolivia, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, and Venezuela.

NEW AMERICAS BUYOUT FUND

Miami-based Grupo Romero Asset Management, the investment arm of Peru’s Grupo Romero, has partnered with global investment firm Carlyle to bring on their LatAm team to launch a buyout fund for the Americas.

MAGELLAN AI ACQUIRED

Listo Global, a provider of recruitment and payroll management services, acquired Magellan AI, a Miami-based firm that provides a platform for companies to connect with overseas providers of services like coding and software engineering.

GLOBAL ENGLISH LEARNING

Open English, a global English-learning platform headquartered in Miami, has launched its corporate learning solution, Open English Business, in Vietnam to boost English-language proficiency in Vietnam’s workforce.

AIR TAXI SERVICE IN MIAMI

Global Crossings Airline Group announced that it will launch UrbanX in Miami by the end of the decade, a subsidiary that will use small electric aircraft to transport commuters short distances in urban and suburban areas.

PERUVIAN BEAUTY

Belcorp, a beauty and healthcare company, will move into a Brickell office in 2024. Based in Lima, Peru, Belcorp operates in 14 countries and employs around 7,500 people. 20 c-suite executives will be based in Miami.

AI FOR IMMIGRANTS

Leap Financial, a Miami-based financial services tech company, has launched Lola4i.com, an AI assistant that coaches newly arrived immigrants to the U.S. and next-gens to help them navigate the U.S. banking system.

TRADE MISSION TO JAPAN

Almost 60 Miami-Dade County officials and business representatives were on a trade mission to Japan hosted by Japan’s consul general in Miami, Kazuhiro Nakai. From Nov. 25 to Dec 6., county Mayor Daniella Levine Cava, County Aviation Director Ralph Cutié, representatives from PortMiami, and private business leaders were there to expand trade and investment.

DOWNTOWN LEASING

Citigroup Center, an 810,000 sq ft tower in Downtown Miami and the second-largest Class A office building in Florida has announced that it executed 38,731sq ft of leasing agreements. The agreements include six new tenants and two lease renewals. Four of the new tenants are international companies.

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