Black Lion Investment Group, led by Robert Rivani, has sold one of their trophy assets in Miami Beach’s highly sought after South of Fifth neighborhood for $28.2 million to Texas-based investor River Oaks Properties, led by its President Adam Frank. Purchased in 2022 for $11.5 million, Black Lion strategically acquired the location at 200 South Pointe Drive and within weeks signed a 15-year lease to bring in CATCH, one of the most renowned dining destinations in the country. The transaction marks the highest value attributed to a freestanding restaurant property in Florida’s history, showcasing the demand for irreplaceable assets in Miami’s exclusive South of Fifth neighborhood.
“We are proud to have played a key role in bringing a world-class tenant to one of Miami’s most iconic neighborhoods. CATCH has elevated the city’s dining scene, and we are grateful to their team for placing their trust in us and our property,” said Rivani. “This deal underscores the resilience and growth potential of the restaurant industry in the South Florida market.”
CATCH first opened its doors in New York City's Meatpacking District in 2011. Its Miami outpost, which debuted last summer, offers an impressive 23,000-square feet of space. The restaurant showcases a mix of indoor dining and an outdoor rooftop space, designed by Rockwell Group.
JLL Capital Markets' Alex Sharrin and Jeffrey Cicurel represented Black Lion in the transaction, and procured the buyer represented by Pegasus Investment's David Chasin and Daylin Ackerman.
“CATCH Miami Beach represents a rare fusion of a critically acclaimed dining operator, underpinned by credit, and positioned amidst some of the most coveted real estate in the country – Miami Beach’s South of Fifth neighborhood,” Sharrin added.
Black Lion’s portfolio includes an impressive array of hospitality-driven properties with tenants including Gekko, Amara, Rosa Negra, and the upcoming GAIA. Rivani recently cemented his bullish run on Miami by purchasing a 160,000-square foot office building at 1691 Michigan Ave in April 2024. Coined ‘The Rivani’, the hospitality visionary plans to transform the office building into a Class X space showcasing features you would find at an exclusive 5-star hotel including a concierge, spa, meditation room, fitness center, salon, cafe, and a Japanese restaurant and speakeasy.
“Miami continues to solidify its status as a world-class, thriving city and we are proud to play a part in its evolution,” said Rivani. “We are excited to soon unveil an incredible lineup of tenants who will be joining ‘The Rivani’ this year.”
