Developer Michael Shvo secured a $190 million refinance for the construction of the Rosewood-branded Raleigh hotel and condo project in Miami Beach, adding to a handful of large loans condo developers have recently secured in South Florida.

Shvo, Deutsche Finance, and a group of German institutional pension funds are redeveloping the Raleigh, South Seas, and Richmond hotels at 1751, 1757, and 1775 Collins Avenue into a 60-key luxury hotel and 42-unit condo building. Construction is underway, and it could be completed in 2026, according to a press release.

Developer Michael Shvo secured a $190 million refinance for the construction of Rosewood-branded Raleigh hotel and condo project in Miami Beach, adding to a handful of large loans condo developers have recently secured in South Florida.

Shvo, Deutsche Finance, and a group of German institutional pension funds are redeveloping the Raleigh, South Seas, and Richmond hotels at 1751, 1757, and 1775 Collins Avenue into a 60-key luxury hotel and 42-unit condo building. Construction is underway, and it could be completed in 2026, according to a press release.