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Miami’s historic Raleigh Hotel sold for $103 million

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The historic Raleigh Hotel property in Miami was purchased today by a joint venture between Deutsche Finance America, Bilgili Holding 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.