Tommy Hilfiger completes Raleigh Hotel purchase

Fashion icon Tommy Hilfiger officially purchased the Raleigh Hotel in Miami Beach for an undisclosed price. Hilfiger closed on the acquisition of the 105-room hotel at 1775 Collins Avenue on Friday, the Miami Herald reported, citing an announcement from real estate firm HFF. The seller, a partnership between W South Beach developer David Edelstein and sbe founder, chairman and CEO Sam Nazarian, paid $55 million for the property in December 2012