Rivani sells Wynwood Jungle for $26M to fund next Miami Beach buy

Robert Rivani sold the Wynwood Jungle for $26 million, with plans to use the profits to fund the pending acquisition of a Miami Beach office property.  The nearly 39,000-square-foot retail plaza at 51 Northwest 23th Street sold for nearly double its previous sale price five years ago, Patrick Khoury, chief investment officer for Rivani’s Miami-based namesake firm, told The Real Deal.  Eric Williams with Newmark represented the seller and the buyer, an investment group based in Dallas, Khoury said. He declined to name the buyer.  An affiliate of Rivani, formerly Black Lion, bought the property, formerly known as Wynwood Arcade, […]

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