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News: Main
October 1, 2009

Raleigh Hotel in South Beach Sold

A group of investors has taken ownership of the Art Deco icon.

News:

Main
October 1, 2009

Raleigh Hotel in South Beach Sold

A group of investors has taken ownership of the Art Deco icon.

Two investment firms have taken ownership of the Raleigh hotel in South Beach. Molinaro Koger represented Andre Balazs in the sale of the 105-room icon. The new owners—Brilla Group and AJ Capital Partners—plan to enhance current operations and explore long-term repositioning of the hotel, which underwent a makeover in 2004. Built in 1940, the Raleigh features a boutique, lobby lounge, the Martini Bar, and a poolside grill and bar adjacent to the hotel’s 20,000-square-foot tropical area known as the Oasis, which includes six cabanas.

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