The Black Lion of CRE: Robert Rivani
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- June 25, 2021
Robert Rivani of Black Lion Investment Group recently made headlines with his acquisitions of two iconic Miami properties for over $25 million. He purchased the waterfront property that is home to Amara at Paraiso, an upscale waterfront restaurant in Edgewater and Wynwood Arcade in Wynwood.
By the age of 16, Rivani had just sold his first company for $150,000, a shoe company that sold Jordans and Nikes. He decided to get into day trading and promptly lost most of his money, a tough lesson but one that still resonates with him today. Instead of chasing quick returns and instant gratification, trying to double your money as quickly as possible, he learned to focus on investments with maturity and patience.
As The Great Recession raged on, he went to work for his family’s property management company and quickly realized that managing other people’s properties is not what he wanted to do.
He wanted to buy, flip and sell properties that others didn’t see potential in. His first step was to identify where the property was cheap and where communities wanted development; he started out buying property in Atlanta and was soon branching out to Wisconsin, Illinois and Texas.
Amara at Paraiso
Rivani would do his research and find properties that were vacant or abandoned by developers and snap them up, using his model to transform areas into thriving markets again. His focus is always on communities and finding ways to benefit them, not only for the locals but bringing opportunities via visitors. He points out that it only takes one good post on social media to usher in new consumers to a space.
Over the last year he spent a lot of time re-evaluating what the world needs and how consumer habits were changing, he asked himself, what do people actually need to leave the house for? People don’t need gyms, they can make one at home, they don’t need to go to the store for their groceries or to a shopping mall for a new outfit.
A restaurant experience, however, cannot be replicated at home, it’s truly unique: that’s why he is focusing on properties for Food & Beverage, “People have a natural want to go outside and enjoy other people’s company”, he says, something that has been sorely missed over the past year.
“Wynwood goes against all my fundamental understandings of real estate,” says Rivani, he was concerned about the lack of day-to-day residents, but with the new developments and hotels coming he is pretty bullish on Wynwood.
He plans on investing a million dollars into transforming Wynwood Arcade into Wynwood Jungle, and has already signed a 10,000 square foot lease for the rooftop with an upscale restaurant group from Los Angeles, this is space that was not being utilized by the previous owners.
Robert Rivani, Black Lion Investment Group
The Wynwood Jungle will have over 50,000 florals and foliage added to the interior and exterior of the space creating something like no other. An unmissable destination for the community and visitors alike. “In my eyes, it’s like a little city”.
Despite coming from LA and having an ingrained sense of the California style, he’s not interested in bringing that aesthetic to Florida, rather, Rivani says it’s important to know your consumer and focus on what the community wants first and foremost.
He stresses that every state, every city, is different, with a different set of needs and habits that are important to learn. “Being humble and listening to the community’s needs will bring more success than trying to bring something out of left field and trying to change people’s habits”, he states.
His inspiration comes largely from traveling the world, (he’s visited over 50 countries) and takes the best of these cultures, cherry-picking the innovation he sees along the way, and utilizing them to elevate his investments.
For Rivani, discipline is the key to being successful. Every day he is early to bed and early to rise, not only does he make sure he’s up by 5.30 am but takes his health and fitness seriously “if you’re working 60-70 hours a week, keeping yourself fit and healthy will keep you regimented and stop distraction from setting in”. This drive is behind his attitude to business.
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When asked to describe himself he says “relentless, I don’t take no for an answer” when you find a well-priced investment, there will always be some problems with the deal, you can’t let that stop you, you have to be apt at finding solutions.
Rivani’s determination shines through even in his business name. Black Lion Investment Group comes from his view that he stands out like the black sheep of the investment world. He thinks differently has no interest in being the same as the other “cookie-cutter” firms, and like a lion (his favorite animal) he tracks down his target investments and pounces at the opportune moment.
Rivani plans on investing another $50-100 million into South Florida in the next year taking advantage of the swathes of people leaving California and other cities, looking for more space and sun.
He is focusing on Wynwood, Brickell and Edgewater and revitalizing those areas, as always he wants to make a big impact on local neighborhoods and wants to focus on areas where he can bring the most value.
For more on Robert check out this video about him on YouTube and be sure to follow him on Instagram.
