Ser­dar Bil­gili buys 2 more ho­tels in Mi­ami

Dünya Executive - - OVERVIEW -

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.

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