Michael Shvo

Aegon sells the Pyramid building complex in San Francisco

Retrieved on: 
Thursday, October 29, 2020

Transamerica, Aegons business in the United States, has sold the Pyramid building complex which includes the Pyramid, 505 Sansome, the Redwood Park and other properties in the block bounded by Montgomery Street, Clay Street, Washington Street, and Sansome Street in San Francisco, to a joint venture led by Michael Shvo.

Key Points: 
  • Transamerica, Aegons business in the United States, has sold the Pyramid building complex which includes the Pyramid, 505 Sansome, the Redwood Park and other properties in the block bounded by Montgomery Street, Clay Street, Washington Street, and Sansome Street in San Francisco, to a joint venture led by Michael Shvo.
  • I am pleased that we have taken another step to strengthen our balance sheet with the sale of the Pyramid building complex, commented Lard Friese, CEO of Aegon.
  • Since then, Aegon has grown into an international company, with businesses in more than 20 countries in the Americas, Europe and Asia.
  • Today, Aegon is one of the worlds leading financial services organizations, providing life insurance, pensions and asset management.

SHVO Wins Approval to Move Forward with the Development of the Raleigh Masterplan in Miami Beach

Retrieved on: 
Wednesday, September 9, 2020

The approved plan includes construction of a new 175-foot oceanfront residential tower behind the Richmond and South Seas.

Key Points: 
  • The approved plan includes construction of a new 175-foot oceanfront residential tower behind the Richmond and South Seas.
  • "The Raleigh Hotel is the crown jewel of Miami Beach," said Shvo.
  • "This approval marks a new milestone in the partnership between SHVO, South Beach and the surrounding community.
  • Given The Raleigh's storied history, SHVO is committed to returning it as a cultural beacon for the greater Miami community.

CIM Provides $120 Million Construction Loan to Joint Venture Led by SHVO, Bilgili Group, and Deutsche Finance for Development of Mandarin Oriental-branded Residences at 685 Fifth in Midtown Manhattan

Retrieved on: 
Wednesday, December 18, 2019

The building will become home to the Mandarin Oriental brands first standalone residences in the Americas, while its lower floors remain premium retail.

Key Points: 
  • The building will become home to the Mandarin Oriental brands first standalone residences in the Americas, while its lower floors remain premium retail.
  • Upon completion of the redevelopment anticipated in 2021, 685 Fifth will become 69 Mandarin Oriental residences.
  • Restoration and development of the building is currently underway with ten additional floors being added to the tower.
  • The project is led by developer-owners SHVO with Bilgili Group and Deutsche Finance.