MIAMI—With local market partners Grass River Property and Comras Company, Federal Realty Investment Trust just acquired an 80% stake in CocoWalk. The 198,000-square-foot lifestyle center in Miami’s Coconut Grove neighborhood is valued at  $87.5 million.  

“CocoWalk is the focal point of Coconut Grove’s historic village center, a short walk from Biscayne Bay and some of Miami’s most prominent residential neighborhoods,” says Jim Taylor, executive vice president, CFO and treasurer of Federal. “Surrounded by new residential towers, hotels, offices, schools, parks and marinas, CocoWalk’s tenants serve more than 150,000 Coconut Grove residents and millions of visitors each year.”

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