Berkadia Secures $114.3M Loan To Refinance RIVANI In Miami Beach
The refinancing follows RIVANI’s approximately $38 million transformation of the 165,170-square-foot property.
The refinancing follows RIVANI’s approximately $38 million transformation of the 165,170-square-foot property.
Upon completion in 2028, the eight-story, approximately 200,000-square-foot development will deliver premier office and retail space to the PGA corridor, where there are no other new office projects in the pipeline. Construction is scheduled to begin August 2026.
Berkadia Miami’s Brad Williamson, Scott Wadler and Michael Basinski, along with Mitch Sinberg, Matt Robbins, and Jacob Kelly, secured the financing on behalf of RIVANI. BridgeInvest provided the loan.
The asset consists of two 11-story office towers and a connected structured parking facility. The property is fully leased and home to a diverse roster of national and global tenants.
The property is currently 100% occupied by two tenants.
The project, which features 106 residences and a 29-slip private marina, is located on the last 14 contiguous acres of Intracoastal waterfront in the Palm Beaches.
Senior Managing Director Jaret Turkell and Senior Directors Omar Morales and Yoav Yuhjtman of Berkadia South Florida led the transaction on behalf of the seller.
The floating-rate bridge loan will be used to refinance the property’s existing construction financing and fund remaining completion costs for the project, which topped out in October 2025 and is expected to deliver in mid-2026.
Senior Managing Director Mitch Sinberg, Managing Directors Scott Wadler, Brad Williamson and Matt Robbins, and Vice President Hugo Hernandez of Berkadia Miami and Boca Raton secured the financing on behalf of the multifamily owner/operator.
Berkadia announced the addition of two Senior Managing Directors and a Vice President to establish the new group. The trio worked together at CBRE Capital Advisors.
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