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.
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 facility is a 100% climate-controlled, 4-story self-storage building consisting of approximately 1,116 storage units or 100,250 rentable square feet inclusive of 2,420 square-foot freestanding commercial space.
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.
Phase II will consist of 6,000 square feet of ground-floor retail space and 42,000 square feet of creative office space, slated for completion in Q2 2026.
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