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Miami, FL

Black Lion Investment Group, under the leadership of Robert Rivani, has recently sold a commercial unit at the prestigious One Thousand Museum. This move is part of a larger strategy to free up capital for an upcoming acquisition in Miami Beach.

One Thousand Museum: A High-Profile Sale

  • Location: The commercial unit is located in the Zaha Hadid-designed luxury condominium at 1000 Biscayne Boulevard.
  • Transaction Details: The 6,500-square-foot ground-floor space was sold to the One Thousand Museum Condominium Association for $7.9 million. This sale represents a $1.5 million gain for Black Lion, which had acquired the space for $6.4 million just nine months prior.
  • Initial Plans: Originally, Black Lion intended to bring a high-profile restaurant tenant to this space, continuing its trend of enhancing commercial condo units with notable dining establishments.

Strategic Shift for a Major Acquisition

  • New Focus: Rivani is now redirecting efforts towards a significant acquisition in Miami Beach – a 150,000-square-foot commercial building.
  • Capital Reallocation: To facilitate this nearly $100 million transaction, Black Lion is selling off parts of its hospitality portfolio, including this One Thousand Museum space and other commercial condos.
  • Market Adaptation: Rivani notes the tightening of bank financing in the commercial real estate market, prompting this strategic shift.

Black Lion's Market Presence

  • Company Evolution: Founded in 2014, Black Lion initially focused on shopping centers before pivoting to hospitality retail spaces.
  • Impressive Portfolio: The firm has completed over $550 million in commercial real estate deals across the U.S., with its South Florida portfolio valued at approximately $200 million.
  • Notable Assets: Black Lion's restaurant assets include a building adjacent to the Continuum on South Beach, leased to Catch, and the ground-floor unit at SLS Lux Brickell, home to Gekko.

This transaction highlights the dynamic nature of Miami's real estate market, where strategic decisions can lead to significant shifts in investment focus. Black Lion's move to sell a prime asset like the One Thousand Museum space in favor of a larger acquisition underscores the company's adaptability and foresight in a changing market landscape.

For more insights into Miami's real estate trends or if you have any questions, feel free to text me.

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