Deutsche Finance America Expands Footprint in Miami Beach with Planned Office Development on Alton Road
MIAMI (June 3, 2022) — Today, the partnership of Deutsche Finance America and SHVO consummated the purchase of a luxury office development site at the intersection of Alton Road and Lincoln Road in Miami Beach, Florida. The partnership also owns and is currently developing The Raleigh Rosewood Hotel and Residences in Miami Beach.
The site consists of 1.4 acres and is located adjacent to Miami Beach’s Lincoln Road shopping district, the pedestrian-only promenade in the heart of Miami Beach that attracts more than 10 million visitors annually.
The partnership is seeking to develop both office and ground floor retail, with the intent to build a Class-A office building designed by Foster + Partners. The building is intended to include 300 feet of prime Alton Road exposure, panoramic views and sustainable design features.
The site benefits from direct access to Alton Road, which connects Miami Beach to the mainland via two major causeways (Venetian and MacArthur) and provides an efficient commute for tenants that reside on both the mainland and the beach.
The partnership has previously obtained entitlements in Miami Beach in connection with The Raleigh Rosewood Hotel and Residences and has strong conviction with respect to the Miami Beach market. Limited supply of land on Miami Beach restricts the development of new office inventory, creating the opportunity to capitalize on increasing demand from robust in-migration and corporate relocations to Miami in recent years.
About SHVO
SHVO is a real estate development and investment firm built on the vision of Chairman & CEO Michael Shvo to create culture-defining experiences in iconic properties.
Headquartered in New York City with offices in Miami, San Francisco, Los Angeles, and Chicago, SHVO owns and operates a national portfolio with more than $8 billion in assets under management and 4.5 million square feet across commercial office and retail space, hospitality, and luxury residential assets. The firm's selective portfolio of architecturally significant properties, from innovative ground up new developments to revitalized landmarks that define skylines in the world's leading cities, includes the Transamerica Pyramid in San Francisco, The Raleigh Hotel in Miami Beach, 333 South Wabash Avenue ('The Big Red') in Chicago, Mandarin Oriental Residences at 9200 Wilshire Boulevard in Beverly Hills, Mandarin Oriental Residences Fifth Avenue in New York City and the AMAN New York Hotel and Residences at the Crown building.
Renowned for its expertise, SHVO is fully integrated with highly diversified industry experience in every aspect of acquisitions, finance, development, design, sales, leasing, property management, hospitality, and sustainability.
About Deutsche Finance
Deutsche Finance Group (“DFG”) is a global real estate investment management firm managing more than $11.1 billion in assets as of Q1 2022. Established in 2005, DFG is headquartered in Munich with offices in London, Denver, Zurich, Luxembourg and Madrid. Deutsche Finance America 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. Deutsche Finance America has closed on acquisitions totaling approximately $6.0 billion as of Q1 2022.