Miami's Iconic Raleigh Hotel Purchased by Deutsche Finance America

NEW YORK (February 13, 2019) — The historic Raleigh Hotel property in Miami was purchased today by a joint venture between Deutsche Finance America and SHVO. The partnership purchased the property for $103 million from Tommy Hilfiger and Turkish conglomerate Dogus Group, which had owned the Raleigh since 2014. 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 joint venture purchased the property in an all cash transaction in partnership with a number of Germany's largest institutions including Bayerische Versorgungskammer (“BVK”), Germany's largest manager of public pension schemes.

The acquisition of the Raleigh hotel marks the second joint investment between New York City based development firm SHVO and investment management firm Deutsche Finance after acquiring 685 5th Avenue six months ago.

"We are thrilled about the next chapter of the Raleigh’s history – as a nostalgic icon and a symbol of twenty-first century style and luxury.” said Michael Shvo, Chairman and Founder of SHVO. “Over the past 4 years, Tommy Hilfiger and the Raleigh Group have put incredible effort into restoring this iconic Art Deco gem and we are grateful that they are entrusting us as stewards of the Raleigh’s future. We are committed to bringing about its next renaissance.”

Jason Lucas, Managing Partner of Deutsche Finance America, commented, “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.”

About SHVO

SHVO brings an atelier-like experience to real estate development, fueled by a discerning eye for design excellence and a passion for quality in every detail. With more than $4 billion under development, SHVO is dedicated to creating extreme value by bringing innovative concepts to life in premier locations for exclusive clientele. Founded in 2004, SHVO has been involved in the envisioning, planning, sales and marketing of more than $15 billion of prime real estate, spanning more than 80 million square feet. SHVO projects have pioneered innovations that continue to be emulated and set new standards throughout the world. Based on New York City, SHVO was founded in 2004 by Michael Shvo, who remains its Chairman and CEO.

Additional information can be found at shvo.com.

About Deutsche Finance

Deutsche Finance Group (“DFG”) is a global real estate investment management firm established in 2005 and headquartered in Munich with offices in London, Denver, Zurich, and Luxemburg. DFG has €2 billion of assets under management. Deutsche Finance America (“DFA”) is a subsidiary company established in 2018 to source, structure and asset manage direct real estate investments in the United States on behalf of DFG’s institutional client accounts and managed funds. DFA has successfully committed in excess of $300 million of equity across four investments in its first year of operations.

Additional information can be found at dfamerica.com.