Acquisition marks River Oaks Property’s 2nd Trophy Acquisition in South Florida
El Paso, Texas, Jan. 21, 2025 (GLOBE NEWSWIRE) — El Paso, TX – River Oaks Properties has completed the acquisition of 200 South Pointe Drive in Miami Beach for $28,200,000. Located in the most exclusive neighborhood of Miami Beach, the South of Fifth enclave is also home to world famous restaurant and hospitality venues including Carbone, Joe’s Stone Crab and the highly anticipated redevelopment of Nikki Beach. The property was 100% leased to CATCH and backed by a guaranty from Landry’s Co., a private dining, hospitality, entertainment and gaming company owned by Tilman Fertitta.
“We are very proud to be the new owners of such a trophy asset and we look forward to a long-term relationship with the neighborhood and tenant,” said Adam Frank, President of River Oaks Properties. The CATCH acquisition marks River Oaks’ second high-profile retail acquisition within the red-hot South Florida real estate market.
In July 2022, River Oaks entered the South Florida real estate market with its marquee purchase of Shop Delray, a newly constructed, open-air shopping center anchored by gourmet grocer Joseph’s Classic Market located within the affluent neighborhood of Delray Beach. “CATCH is a great add-on to our existing presence in the South Florida market, and we are eager to continue our strategic investment into one of the most highly sought-after real estate markets in the world,” Frank added.
River Oaks Properties is El Paso’s largest retail leasing and commercial development platform, owning 6 million square feet across 190+ properties. River Oaks Properties is focused on the development, construction, acquisition, ownership and operation of high street retail, neighborhood and community retail shopping centers. Founded in 1959, River Oaks Properties has remained committed to investing in rapidly growing, high-traffic areas catering to America’s highest quality retail tenants. “Acquisitions like CATCH represent the future of River Oaks Properties, and we are excited to continue making strategic investments as we expand our portfolio,” Frank added.
According to the restauranteur’s website, “CATCH Miami Beach marries simple yet elegant seafood, sushi and steak with excellent service and a lively atmosphere signature to Catch Hospitality Group. Situated in the vibrant South of Fifth Neighborhood, the 23,000 square-foot dining destination offers breathtaking views from its open-air rooftop terrace, adding an elevated garden-like escape to the bustling south beach scene.” Catch Hospitality Group is no stranger to catering to the most exclusive clientele across the country, with locations in New York, Los Angeles, Las Vegas, Dallas and Aspen. Catch also recently opened The Corner Store in SoHo, which has become one of the most difficult reservations in the country.
The acquisition closed on January 13, 2025. The purchaser, River Oaks Properties, was represented by Pegasus Investments, a Los Angeles based real estate investment advisory and asset management firm. The seller, Black Lion’s Robert Rivani, was represented by JLL’s Alex Sharrin.
CONTACT: Marina Monsisvais Barracuda PR 915-861-0446 marina@barracudapr.com
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