Serdar Bilgili buys 2 more hotels in Miami
The former manager of Besiktas soccer team and the Chairman of Bilgili Holding, Serdar Bilgili, who bought Doguş Group’s hotel in Miami last year, has added two more hotels to his portfolio. Bilgili bought the Richmond Hotel and the South Seas hotel, located right next to Dogus Group’s existing hotel, according to Kerim Ulker of daily DUNYA. Bilgili, together with U.S. real estate agent, Michael Shvo, and the German banking giant Deutsche Finance America, acquired Richmond Hotel for $ 87.9 million and South Seas for $52 million. Bilgili and his partners purchased the original hotel for $103 million making the total hotel purchase $243 million for three hotels. Serdar Bilgili and his foreign partners worked with California-based Acore Capital for the acquisition. The partners financed the three operations with Acore Capital with a purchase loan of $100 million. The Miami Beach City Commission will decide on a new precedent height of 115,000 square meters of land in which the three hotels are located.
The most expensive sale per room
The 83-room Raleigh on 1775 Collins Avenue in Miami was sold for about $1.24 million per room, one of the most expensive hotel sales per room in Miami-Dade County. Raleigh was closed after Hurricane Irma in September 2017. Richmond has 92 rooms in a four-storey building of approximately 52,000 square meters. Built in 1941, the building is located on an area of 32,670 square meters. The South Seas hotel is four floors. The building is built on an area of 50,386 square meters.