Tommy Hilfiger Buys Landmark South Beach Hotel

HFF has brokered the sale of the Raleigh Hotel, a 105-room historic art-deco hotel located at 1775 Collins Ave. in Miami Beach.
The Raleigh Group purchased the landmark hotel from affiliates of New York City-based Tristar Capital for an undisclosed price.  The 1940-built property traded in 2012 for 55 million.
Hospitality management firm sbe Hotel Group will continue to manage the property.
The Raleigh Group, a luxury hospitality group founded by Tommy Hilfiger, plans to renovate the hotel. Manuel de Zarraga, Max Comess, Cyrus Vazifdar, Claudia Steeb and Dan Peek of HFF represented the seller in the transaction.
 
Source:  RE Business