Miami-Dade County has notified the owner of an 80-acre Assurant office complex near Cutler Bay that it is backing out of a $160 million deal to buy the property and transform it into a new South Dade Government Center.

A broker representing the campus's owner, American Bankers Life Assurance — an insurance company that operates as Assurant — received a letter from the county confirming the collapse of the deal, the Miami Herald reported.

"It is with much consternation that I write to confirm that Miami-Dade County is not prepared to move forward with the acquisition of the Assurant property at this time," Dawn Soper, director of the county's Real Estate Division, said in the letter.

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