Michael Shvo and partners are buying this South Beach hotel

Developer Michael Shvo and his partners are bulking up in South Beach. The partnership is under contract to buy the oceanfront Richmond Hotel, marking the group’s second purchase along Collins Avenue this year, sources told The Real Deal. In February, Shvo’s New York-based SHVO, Bilgili Holdings and Deutsche Finance America paid Tommy Hilfiger and the Dogus Group $103 million for the 83-room Raleigh Hotel. The property is next door to the Richmond Hotel. The Richmond, […]

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