A single buyer or group of buyers is paying cash to purchase condominium units at the Solaris, a 22-story building that happens to sit in the middle of properties owned by billionaire hedge fund manager Ken Griffin, the Wall Street Journal reports.
Griffin announced in 2022 he was moving his investment empire called Citadel from Chicago to Miami. His firm announced in August plans to construct a 54-story tower in Miami’s financial district at 1201 Brickell Bay Drive.
The Journal, citing public records, reported that a series of Delaware-based limited liability companies had bought nearly half, or at least 67 Solaris condo units over the past two years. The Journal notes that under the condo building rules any buyer can take control of the building by acquiring 80% of all units. They would need about 110 units to control Solaris.
Condo owners interviewed by the Journal believe Griffin is behind the condo unit purchases because “the LLCs that purchased Griffin’s surrounding commercial properties list the same registered agent as the mysterious Delaware-based LLCs.”
The Journal reported that a Citadel spokesman declined comment about the condo purchases.
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