The Raleigh Hotel & Residences in Miami Beach Secures $190 Million Loan With Help From SHVO

The property at 1775 Collins Ave. is situated on a three-acre oceanfront parcel.

SHVO has recently announced a significant achievement in the ongoing saga of Miami Beach’s flagship property, The Raleigh Hotel & Residences. The real estate development and investment firm has secured $190 million in new financing, a significant milestone for the iconic property. The loan was provided by BH3 Debt Opportunity Fund II, L.P. and led by BH3 Management through its opportunistic credit platform. The transaction was facilitated by Walker & Dunlop’s New York Capital Markets team and was successfully closed earlier this week.

The restoration and expansion of The Raleigh by SHVO, in collaboration with Deutsche Finance America and a consortium of German institutional pension funds, is one of the most significant investments made in Miami Beach, with a total investment of roughly $1 billion. This investment showcases SHVO’s dedication to bringing top-notch design and architecture to the city, with a substantial equity contribution of more than $300 million.

“As we proceed with our meticulous restoration of The Raleigh, we continue to be inspired by its legacy of elegance, glamour and sophistication,” Michael Shvo says, Chairman and CEO of SHVO. “Our new financing will allow us to honor the historic significance of The Raleigh while ushering it into a new era of refined luxury, creating an unparalleled hospitality experience for generations to come.”

The Raleigh’s return is set to transform Miami Beach’s iconic Art Deco district. Spearheaded by renowned architect Peter Marino in partnership with Kobi Karp Architecture, the design will comprise a 60-suite full-service hotel managed by Rosewood Hotels & Resorts, a 17-story oceanfront tower housing 42 Rosewood-branded residences and a private member’s club offering Michelin-starred dining concepts.

“BH3 is pleased to provide the financing for the first stage of construction for SHVO’s plan to restore and revive the iconic Raleigh property in Miami Beach,” Gregory Freedman of BH3 Management says. “Between SHVO’s track record of execution on other marquee luxury projects, the best-in-class team that has been assembled, including Rosewood and Peter Marino, and The Raleigh’s historic relevance and design, this will be a transformational project for Miami Beach.”

With construction ongoing, The Raleigh is set to elevate Miami Beach’s vibrant Art Deco district to new heights upon its reopening in 2026.

“This transaction underscores the reality that despite today’s challenging capital markets environment, liquidity remains readily available for proven sponsors determined to develop unique assets in established markets,” Aaron Appel says, Senior Managing Director and Co-Head of the New York Capital Markets team at Walker & Dunlop. “The collaboration between SHVO, Peter Marino and Rosewood Hotels & Resorts ensures that upon delivery, The Raleigh will be a truly market-defining project and a welcome addition to the rapidly changing landscape of Miami Beach.”

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Drew Limsky

Drew Limsky



Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.