Ken Griffin Buys Entire Miami Condo Building for $125M to Expand Citadel HQ

Ken Griffin, the billionaire and founder of Citadel, has discreetly acquired all 138 condominiums and retail spaces on the ground floor of Solaris, a 22-story building situated in Miami's Brickell area, for around $125 million. Over a span of three years, he utilized anonymous LLCs to purchase the units individually, frequently negotiating with each owner and increasing his offers. Some sellers received payouts in the seven figures, while those who sold earlier expressed regret for not waiting. The tower is set to be torn down to pave the way for a new 54-story Citadel headquarters, alongside a 300-unit apartment complex, a parking garage with 1,420 spaces, and additional office facilities. Additionally, Griffin acquired a historic cottage previously owned by the city, which was once the office of Miami's first physician, after receiving approval from city commissioners for its sale to an entity linked to him. He committed to preserving and relocating the century-old structure in partnership with the Dade Heritage Trust. Since moving Citadel from Chicago in 2022, Griffin has invested over $1 billion in South Florida real estate, anticipating that Miami will evolve into a significant financial center. This latest acquisition aligns with his strategy of consolidating adjacent properties into larger estates, a tactic increasingly adopted by the ultra-wealthy.