Robert Rivani Secures $114.3 Million Refinance Loan For Office At 1691 Michigan Avenue
1691 Michigan Avenue
$117,000,000
Building Size
—
Asset Type
Office
Closing
Aug 10, 2026
About this deal
AI
The asset involved in this transaction is an office property located at 1691 Michigan Avenue, Miami Beach. The loan amount for this transaction is $114,300,000, categorized as a refinance.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $114,300,000
- Lender: Alex Horn, Jon Gitman, Adrie Bailey & Beck Granelli - BridgeInvest
- Borrower: Robert Rivani
- Landlord's Representative: Brad Williamson, Scott Wadler, Michael Basinski, Jacob Kelly, Matt Robbins & Mitch Sinberg - Berkadia
The key individuals facilitating this transaction include Robert Rivani as the borrower and Alex Horn, Jon Gitman, Adrie Bailey, and Beck Granelli as the lenders representing BridgeInvest. Additionally, the landlord's interests are represented by a team from Berkadia, consisting of Brad Williamson, Scott Wadler, Michael Basinski, Jacob Kelly, Matt Robbins, and Mitch Sinberg.
On the Map
$117,000,000
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93