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Miami’s Iconic Raleigh Hotel Acquired by Deutsche, Bilgili, SHVO JV
The historic Raleigh Hotel in Miami was purchased by a joint venture between Deutsche Finance America, Bilgili Holding and SHVO for $103 million. The property was held by Tommy Hilfiger and Turkish conglomerate Dogus Group, which had owned the asset since 2014.
Deutsche Finance America’s Jason Lucas says, “The Raleigh Hotel is an embodiment of Miami’s timeless South Beach, and we believe this investment offers our LPs outsized risk-adjusted returns in a liquid, gateway market.”
The 83-room hotel is an icon of South Beach art deco, known especially for its ornate beachside swimming pool, which LIFE Magazine called “the most beautiful pool in America” in 1947. The new JV purchased the property in an all-cash transaction, in partnership with a number of Germany’s largest institutions including Bayerische Versorgungskammer, Germany’s largest manager of public pension schemes.
For comments, questions or concerns, please contact Dennis Kaiser
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