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Mirabilis Buys Trump Tower Tampa

TAMPA, FL-Mirabilis Ventures Inc. plans to acquire other luxury waterfront properties valued at more than $1 billion in Florida, New Jersey and Maryland from SimDag Investments LLC.

By Alex Finkelstein | Updated on November 25, 2006

TAMPA, FL-Mirabilis Ventures Inc., an Orlando-based global private equity firm with annual revenue of more than $850 million from 80 affiliated companies, has purchased the $309-million, 52-story uncompleted Trump Tower Tampa. The price was not disclosed. An area broker tells GlobeSt.com the recorded price will be at least “in the nine figures or more.”

Locally based SimDag Investments LLC broke ground on Trump Tower Tampa in March, as GlobeSt.com previously reported. New York City developer Donald J. Trump has a licensing deal with SimDag but is not a co-developer. The 1.5-acre development site is at 111 South Ashley Dr. The site faces the Gulf of Mexico along the Hillsborough River in the center of Tampa’s financial and cultural districts.

The 192-unit project was scheduled to be completed in 2008 at an estimated hard construction cost of $1.6 million per unit. SimDag officials placed the preliminary development cost at $260 million or about $1.3 million per unit. The cost has now been revised upwards to $309 million.

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