Monarch, Tourmaline Seek Record $400M+ Sale of 801 Brickell Office Tower

Monarch Alternative Capital and Tourmaline Capital Partners have tapped Eastdil Secured Savills to market 801 Brickell, a 437,000-square-foot Miami office building, for over $400 million, or roughly $900 per square foot — a neighborhood record, Bloomberg reported on October 2, 2026. The owners bought the 28-story tower from Nuveen Real Estate for $250 million in 2023, Florida's priciest office sale that year. Nuveen had acquired it for $80 million in 2002. Tenants include Mastercard, BNP Paribas Securities, the U.S. Securities and Exchange Commission, Galderma and Venable; three tenants generate over 40 percent of income, per KBRA. Rents sit about 40 percent below Brickell's summer average of $90.25 per square foot. Monarch and Tourmaline refinanced with $229 million from Goldman Sachs and Wells Fargo in 2025 via single-asset CMBS. The loan matures in October 2027 at 3.2 percent plus SOFR. KBRA valued the property at $219 million as of September 30, 2026.