Miami — 13th Floor Investments, Gadinsky Real Estate and Echion USA Inc. have acquired Riviera Plaza, a 45,000-square-foot mixed-use commercial building near Miami in Coral Gables, for $16.5 million.
Riviera Plaza is an urban infill location featuring office, retail and theater space. Existing tenants include Subway, Gables Pizza, Misha’s Cupcakes and the Riviera Plaza Theatre of the Performing Arts.
13th Floor Investments worked with BankUnited N.A. to secure a $9 million acquisition loan for the transaction.
The transaction is 13th Floor’s first collaboration with Gadinsky Real Estate/Echion, which will serve as the leasing agent for the center.