The Raleigh Hotel to Undergo Major Revamp with $190 Million Secured in Financing
Miami Beach, FL (Press Release): SHVO, a renowned real estate development firm, has secured a significant $190 million loan for the restoration and expansion of The Raleigh Hotel, a Miami Beach landmark. This financing marks a major milestone for the project and positions The Raleigh for a new chapter as a premier hospitality destination.
Investment in Grandeur
The total project is expected to reach nearly $1 billion, with a substantial equity contribution exceeding $300 million. SHVO is partnering with Deutsche Finance America and German institutional pension funds to complete this transformative project, solidifying their commitment to bringing world-class design and architecture to Miami Beach.
Redefining the Art Deco District
Situated on a sprawling three-acre oceanfront property at 1775 Collins Avenue, The Raleigh's return promises to redefine Miami Beach's historic Art Deco district. The acclaimed architect Peter Marino, collaborating with Miami's Kobi Karp Architecture, will spearhead the design. The project will encompass a luxurious 60-suite hotel managed by Rosewood Hotels & Resorts, a separate 17-story oceanfront tower boasting 42 Rosewood-branded residences, and an exclusive members' club featuring Michelin-starred dining experiences.
Quotes
Michael Shvo, Chairman & CEO of SHVO: "We are inspired by The Raleigh's legacy of elegance and glamour as we meticulously restore this property. This new financing allows us to honor its history while ushering in a new era of refined luxury, creating an unparalleled hospitality experience for future generations."
Gregory Freedman of BH3 Management: "BH3 is proud to finance the initial phase of construction for this iconic property's revival. With SHVO's proven track record, the best-in-class team assembled, and The Raleigh's historic significance, this will be transformative for Miami Beach."
Aaron Appel of Walker & Dunlop: "This transaction highlights continued liquidity for qualified developers in established markets. The collaboration between SHVO, Peter Marino, and Rosewood guarantees The Raleigh will be a game-changer, enriching Miami Beach's evolving landscape."
A Glimpse into the Future
Construction is well underway, and The Raleigh is poised to elevate Miami Beach's vibrant Art Deco district upon its anticipated 2026 reopening.
Interested in a Private Tour?
As the Sales Director of the Raleigh Rosewood Residences & Hotel, I invite you to contact me for a personalized tour of this exceptional property. Let me be your guide to experiencing the future of luxury hospitality in Miami Beach.
Anna Sherrill, Sales Director
The Raleigh Rosewood Residences & Hotel
[email protected]