BridgeInvest Provides $114M Refi for Robert Rivani ‘Concierge Office’ in Miami Beach
Developer Rivani bought the mixed-use office property two years ago for $63 million and has already invested $38 million into tenant improvements
By Brian Pascus September 18, 2026 9:22 am
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Developer Robert Rivani has secured $114.3 million to refinance his eponymous Rivani, a 165,170-square-foot office and retail complex on Miami Beach, Commercial Observer can first report.
BridgeInvest provided the debt out of its BridgeInvest Credit Fund V, where the new capital will retire $38 million of existing debt used to renovate the property and finance leasing costs through stabilization. Berkadia’s Brad Williamson, Scott Wadler, Mitch Sinberg and Matthew Robbins arranged the transaction.
“Robert took a well-located but conventional office asset and created something that simply didn’t exist in this market,” said Williamson. “The leasing velocity and caliber of tenants demonstrate the demand for a differentiated workplace experience.”
Located at 1691 Michigan Avenue, the seven-story Rivani building includes 119,000 square feet of office space and more than 43,000 square feet of retail space.
The asset is currently 83 percent leased and already serves as the 20,000 square-foot global headquarters for Playboy Enterprises. It features an office and retail tenant base that includes Apple, Morgan Stanley, Wix, The Jills Zeder Group, World Red Eye and Monarch Athletic Club.
Robert Rivani acquired the property in 2024 for $62.5 million, before integrating hospitality amenities such as a full-service concierge and valet, a spa and fitness area, a meditation room, a podcast studio and a speakeasy-style lounge into what has been a traditional office asset.
Rivani’s next step for the asset requires voter approval. He hopes Miami Beach voters will approve a $50 million expansion of the property above an existing parking garage that would allow him to build an additional 47,000 square feet onto the asset.
CO previously reported that, to make room for the addition, Rivani plans to cut the amount of parking spots down from 712 to 387. One hundred of those 712 spots are currently available to the public.
Rivani did not respond to requests for comment.
Brian Pascus can be reached at bpascus@commercialobsrver.com.
