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That Tommy Hilfiger Raleigh Hotel Mashup Is Happening

It's official. Fashion designer Tommy Hilfiger has just closed on his purchase of the Raleigh Hotel for an undisclosed price from David Edelstein, the developer of the W South Beach, and Sam Nazarian, the CEO of SBE Entertainment Group (think SLS), who themselves had just recently bought the place themselves for $55 million. As has already been reported, Nazarian's SBE will continue to manage the hotel, but Hilfiger plans a "transformational renovation."
· Raleigh sale to Hilfiger closes [Miami Herald]
· Tommy Hilfiger Is Buying, Restoring The Iconic Raleigh Hotel [Curbed Miami]