Riviera Schools scores $22M loan for expansion

Miami private school is planning to add a new building with classrooms and theater, plus tennis courts and parking

TRD MIAMI /
Jan.January 28, 2019 09:45 AM

Peter Cohen and the Preparatory School campus in Miami

UPDATED, Jan. 28, 11:50 a.m.: Riviera Schools scored a $22 million construction loan to expand its Preparatory School campus in Miami.

The private school secured the loan from BB&T to build nine tennis courts, additional parking, and a new building with classrooms and a theater, according to Peter Cohen, associate director of Riviera Schools.

Riviera Preparatory School, at 9775 Southwest 87th Avenue, enrolls students grades 6-12. The school moved to the 14.7-acre site in 2011. Annual tuition comes out to about $26,750.

Riviera Day School was founded in 1950 as an elementary school and middle school, and later began operating a high school. It has two campuses: the Riviera Day School at 6800 Nervia Street in Coral Gables and the prep school on 87th Avenue.

Other private schools in the area have also planned expansions. In October, Ransom Everglades School bought a home at 1921 South Bayshore Drive for about $3.7 million, adding an acre to the 16.7-acre campus.

Avenues: The World School is also planning to open at the former Archbishop Curley Notre-Dame High School site in Little Haiti. New York-based Avenues is an exclusive private school where tuition costs are over $54,000 per year, according to its website.

An earlier version of this story incorrectly identified the acreage and other details about Riviera’s history. 


Related Articles

arrow_forward_ios
Masoud Shojaee and a rendering of Shoma Village 

Shoma Group scores $67M loan for mixed-use Hialeah project

Shoma Group scores $67M loan for mixed-use Hialeah project
Housing Trust Group CEO and president Matt Rieger and Hudson Village renderings

HTG scores financing for Hollywood affordable housing project

HTG scores financing for Hollywood affordable housing project
J.C. de Ona, Southeast Florida Division President of Centennial Bank, Amelia Mixed Use rendering

Prestige Companies nabs loan for mixed-use project in Hialeah

Prestige Companies nabs loan for mixed-use project in Hialeah
Al Patel, President of Baywood Hotels and 1101 Northwest 57th Avenue (Credit: Google Maps)

Baywood scores $31M loan to build hotel near Miami International Airport

Baywood scores $31M loan to build hotel near Miami International Airport
 Rendering of Father Marquess-Barry Apartments with Matt Rieger

HTG scores financing for senior affordable housing in Overtown

HTG scores financing for senior affordable housing in Overtown
Fortune International Group’s Edgardo Defortuna, Château Group’s Manuel Grosskopf and a rendering of the project

Fortune and Château score $119M refi for Sunny Isles condo project

Fortune and Château score $119M refi for Sunny Isles condo project
Rendering of 57 Ocean and Marcelo Kingston (Credit: DBOX)

57 Ocean in Miami Beach scores $59M construction loan

57 Ocean in Miami Beach scores $59M construction loan
Rendering of the project and from left: Vince Signorello, Ricardo Caporal and Greg West

Zom Living, partners score $57M loan for Ludlam Trail project

Zom Living, partners score $57M loan for Ludlam Trail project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...