CIM Completes Construction of 43-Story Apartment Tower at Miami Worldcenter in Downtown Miami

CIM Group announced today that it has completed construction of CAOBA, a 444-unit apartment tower located at Miami Worldcenter, the 27-acre mixed-use development in downtown Miami. The 43-story building is the first tower to open at the $4 billion mixed-use Miami Worldcenter development, one of the largest urban development projects underway in the country.

CAOBA, which just received a Temporary Certificate of Occupancy allowing move-ins to begin, offers residents a range of apartment types, from studios to three-bedrooms. The tower features an array of modern amenities sought after by residents in Miamis urban center including a resort-style pool deck with downtown and ocean views, a fitness center, a club room with a fully-equipped chefs kitchen, and pet-focused facilities including a dog-walking lawn and a dog-wash area. CAOBA also includes more than 15,000 square feet of ground-floor retail space for shops and restaurants, connecting to Miami Worldcenters retail promenade and plaza currently under construction. Plans for an adjacent 40-story, 429-unit tower have been approved by the City of Miami.

Located at 698 Northeast 1st Avenue, CAOBA provides exceptional transit connectivity. The property is one block from Miami Central, downtowns new transportation hub, and Brightlines high-speed rail Miami terminal, which offers direct train service to Fort Lauderdale, West Palm Beach and Orlando. Additionally, other nearby public transit systems such as the Metromover, Metrorail, Metrobus, Miami Trolley and Tri-Rail provide residents with a wealth of transportation options within the city.

CAOBA at Miami Worldcenter is also two blocks south of I-395, linking downtown Miamis Central Business District with its Arts & Entertainment District, a hub for culture and entertainment, and other regional destinations such as the Miami International Airport.

For more information regarding CAOBA, please visit or call 844-383-6583.


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CIM is a community-focused real estate and infrastructure owner, operator and lender. Since 1994, CIM has led more than $60 billion of projects in communities across the Americas on behalf of its own account and for its partners and co-investors. CIMs broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing, and property management experience in urban real assets, net-lease assets and other associated credit strategies. Using its disciplined approach and extensive in-house expertise, CIM seeks to create value in projects, which ultimately enhances communities. For more information, visit

Media Contact
For CIM Group
Karen Diehl
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