![\"Placeholder\"\/](\"https:\/\/www.newsbeep.com\/us-fl\/wp-content\/uploads\/2025\/10\/placeholder.png\")
<\/p>\nA year after Banco Master SA signed a lease for nearly $200 per SF to take the remaining 27K SF in Miami’s most sought-after office building, the lender has been shut down by Brazil’s central bank and its controlling shareholder\u00a0was arrested this week.<\/p>\n
<\/p>\n
\n Courtesy of OKO Group\/Cain International\n <\/p>\n
\n 830 Brickell\n <\/p>\n
Banco Master never occupied\u00a0its space at\u00a0830 Brickell<\/a>\u00a0after inking the deal last year, and any construction that began never finished, Bloomberg reported<\/a>.\u00a0The bank’s name is still displayed along the side of the building.<\/p>\n Daniel Vorcaro, the CEO and controlling shareholder, was arrested at a Sao Paulo airport earlier this week, where authorities say he was trying to flee Brazil, Bloomberg reported<\/a>.<\/p>\n Brazil\u2019s financial regulator, FGC, had\u00a0reportedly sent multiple warning letters<\/a>\u00a0to the central bank to express concern that\u00a0Banco Master\u00a0was expanding at an alarming pace with nontransparent assets.<\/p>\n Executives at the company are now facing accusations of fraud, and its assets are being liquidated, Reuters reported<\/a>.\u00a0<\/p>\n Banco Master, which also has offices in Brazil and\u00a0London, leased the last 27K SF on the 44th and 45th floors in 830 Brickell last year at roughly $190 per SF \u2014 marking a record price for Florida<\/a>\u00a0and on par with some of the priciest deals in Manhattan.<\/p>\n The deal\u00a0was a finalist\u00a0for\u00a0NAIOP<\/a>\u2019s Office Lease\u00a0of the Year\u00a0in\u00a0its South Florida 2025 Awards of Excellence, according to a February release.<\/p>\n A representative for the building’s developers,\u00a0OKO Group<\/a> and\u00a0Cain, formerly\u00a0Cain International<\/a>, declined to comment. A spokesperson for Cushman & Wakefield, which handles leasing for the building, declined to comment.<\/p>\n The 724-foot office tower at 830 Brickell Plaza was one of the first trophy office buildings to rise in Miami in a decade and helped change the narrative for Miami as a market for the business elite.<\/p>\n Billionaire Ken Griffin<\/a>\u2019s Citadel<\/a>\u00a0signed on for\u00a0130K SF across eight floors<\/a>\u00a0while the hedge fund builds its\u00a0$2.5B Miami headquarters<\/a>. It was followed by the likes of\u00a0Thoma Bravo, Microsoft and Kirkland & Ellis, and it is 100% leased.<\/p>\n Featuring a sky lobby, a gym and a private club with a $25K membership on the 54th and 55th floors<\/a>, 830 Brickell\u00a0opened last year after years of construction delays.<\/p>\n Before delivering the 57-story, 640K SF building, Cain and OKO Group refinanced\u00a0their construction loan with $565M from Tyko Capital and a $184M mezzanine loan. The developers\u00a0are in talks with\u00a0Goldman Sachs<\/a> and JPMorgan Chase<\/a>\u00a0for\u00a0a roughly $605M CMBS loan<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"A year after Banco Master SA signed a lease for nearly $200 per SF to take the remaining…\n","protected":false},"author":2,"featured_media":54598,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[25821,34100,25822,34099,225,227,226,25820],"class_list":{"0":"post-54597","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-hialeah","8":"tag-830-brickell","9":"tag-banco-master-sa","10":"tag-cain","11":"tag-cushman-wakefield","12":"tag-hialeah","13":"tag-hialeah-headlines","14":"tag-hialeah-news","15":"tag-oko-group"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/54597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=54597"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/54597\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/54598"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=54597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=54597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=54597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}