Miami-based hip-hop artist Flo Rida (real name Tramar Dillard) and his business manager, Lee “Freezy” Prince, have a “Good Feeling” about paying $10 million for a Miami Gardens retail center, according to records and Vizzda.
Taylor Made Lending LLC provided the buyer with a $6.2 million mortgage. The deal breaks down to $360 per square foot.
David Heinrich with Keyes Co. brokered the transaction.
The seller, North Miami Beach-based G.I.A. Investments, paid $1.5 million for the 27,800-square-foot Cloverleaf Shopping Plaza in 1993. Built in 1955 with additions in 1962 and 1963, Cloverleaf Plaza is at 18130, 18138, 18164 and 18230 Northwest Second Avenue, as well as 230 Northwest 183rd Street, records show.
Cloverleaf Shopping Plaza is anchored by Studio 183 Lounge-Bar-Grill Nightclub, and is 100 percent occupied, according to a Loopnet online listing. Other tenants include Cloverleaf Beauty Supply, Creole Kitchen, Boost Mobile and Top Notch Cigars & Smoke Shop.
A Miami Gardens native, Flo Rida’s hit songs include “Low,” “Good Feeling” and “My House. In January, a Broward jury awarded Flo Rida $82.6 million after finding the makers of Celsius energy drink guilty of breaching a contract he had to be the beverage’s brand ambassador.
Flo Rida is following the lead of another South Florida rapper, Kodak Black (real name: Bill Kahan Kapri). In February, Kodak Black bought two retail buildings in Pompano Beach, his hometown. He paid $1.8 million for the 0.7-acre assemblage, and he has plans to renovate one building and redevelop the other one into a new retail center.
Rappers are usually known for their baller taste in waterfront residential real estate. This month, Grammy-award winning hip-hop artist and record executive Rick Ross posted on Instagram that he was buying a 12,400-square-foot mansion at 37 Star Island Drive in Miami Beach. In May, the nearly 1-acre property hit the market for $37.5 million. One of Ross’ new celebrity neighbors is hip-hop mogul Sean “Diddy” Combs, who gifted him a new golf cart.
