Investor Serdar Bilgili Returns to Real Estate Scene After Collaboration with Luxury Developer Michael Shvo

Investor Serdar Bilgili Returns to Real Estate Scene After Collaboration with Luxury Developer Michael Shvo

Edited by: TJVNews.com

Renowned Turkish investor Serdar Bilgili has returned to the real estate scene with a fresh partnership alongside Bizzi & Partners, as was reported by The Real Deal.  After a previous high-profile collaboration and subsequent separation from luxury real estate developer Michael Shvo, Bilgili is embarking on a new venture that promises to redefine his presence in the real estate market. Teaming up with Bizzi & Partners, Bilgili’s resurgence is marked by his involvement in a significant New York project, renewed U.S. expansion plans, and a shared vision for future ventures, according to The Real Deal report.

Serdar Bilgili, known for his impactful involvements in real estate, has joined forces with Bizzi & Partners, signaling a strategic shift in his career trajectory. The Real Deal report indicated that the partnership aims to create a dynamic synergy, with both entities sharing similar cultural values, business perspectives, and attitudes. Davide Bizzi, in an interview, emphasized the compatibility of their visions and expressed enthusiasm for the collaboration.

“We have the same culture, same view, same attitude in business and the same values,” Davide Bizzi said, according to The Real Deal report.

Bilgili’s first foray back into the New York real estate landscape involves the 125 Greenwich project, an 88-story condominium tower located in Lower Manhattan. As was reported by The Real Deal, this project, which has experienced a tumultuous history of delays and setbacks, had its origins nearly a decade ago in a collaboration between Shvo, Lorber’s New Valley, Bizzi, and others. The report also said that unresolved capital stack issues and challenges in condo sales led to difficulties, the report added.

However, under the lead of Fortress, the development has been reignited and is poised for sales in the near future.

Bilgili’s involvement in 125 Greenwich is not tied to his past association with Shvo, but rather to his desire to collaborate with Bizzi. The decision reflects their long-standing acquaintance and mutual interests, bolstered by the fact that both reside in the same New York City building, The Real Deal report stated. Both Bilgili and Bizzi share aspirations for expanding their presence in the U.S. real estate market, signaling their confidence even in a landscape marked by challenges like higher interest rates and limited luxury residential transactions.

As to Michael Shvo, his real estate development and investment firm was built on his vision of creating culture-defining experiences in iconic properties, as per the SHVO web site.

Headquartered in New York City with offices in Miami, San Francisco, Los Angeles, and Chicago, SHVO owns and operates a national portfolio with more than $8 billion in assets under management with more than 4.5 million square feet across industry sectors, including commercial office and retail, hospitality, and luxury residential assets.

The firm’s selective portfolio of architecturally significant properties, from innovative ground up new developments to revitalized landmarks that define skylines in the world’s leading cities, includes the Transamerica Pyramid in San Francisco, The Raleigh Miami Beach, 333 South Wabash Avenue also known as, “The Big Red,” in Chicago, Mandarin Oriental Residences at 9200 Wilshire Boulevard in Beverly Hills, Mandarin Oriental Residences, Fifth Avenue in New York City and the AMAN New York, hotel and residences at the Crown building.

With a proven track record of acquiring, developing, and managing super-prime assets, SHVO stands for iconic properties in cherished locations, distinctive design aesthetics, and unmatched quality. By emphasizing the unique experience and individual nature of each property, SHVO’s record of increasing demand while achieving exceptional premiums has secured investments from the world’s most selective institutional investors.

As part of a recapitalization effort, Bizzi emerged as the sole remaining member from the project’s initial development group. The Real Deal also reported that Bilgili’s entrance as a minority partner brings a fresh perspective to the venture.

Plans for the partnership, branded as “Bizzi + Bilgili,” include collaborations on various U.S. projects, encompassing a diverse range of assets.  According to the Real Deal report, these ventures span from an office property in Miami Beach to exploring opportunities in Miami and even the redevelopment of office properties in Los Angeles. As the duo endeavors to diversify and expand their presence in key U.S. markets, their partnership takes shape amidst challenges stemming from higher interest rates that are impacting developers’ profit margins, the report added.

Against this backdrop, few players are venturing into the high-end residential domain, making the collaboration between Bilgili and Bizzi all the more noteworthy.

“Bad times are always good times to invest. It’s when the opportunities come in the real estate market,” said Bilgili, as was reported by The Real Deal. “It’s when everyone is scared that’s when the real investors come in.”