Brownstone Tampa Partners, LLC has purchased almost two acres along Tampa's Riverwalk, including the site of the ill-fated Trump Tower Tampa and an adjacent office building known as the CapTrust Building, for $5 million according to a Gulf Coast Business Review article. The price comes at a hefty discount given that in 2004 the original developer paid $16 million for the property. Long-term plans for the vacant land include a mixed-use project of retail, restaurants, office space and hotel.
Brownstone Tampa Partners LLC is an investment partnership of O,R&L Facility Services, a large-scale property and facility management company, Owens Realty Network LLC, O,R&L’s sister real estate brokerage company, and Community Reinvestment Partners II LP, a joint venture investment fund of Forge Capital Partners LLC and DeBartolo Development LLC. "The Trump site and the history, we really are not tied to that in anyway, and we're looking at redefining the site," said new developer Bob Owens. "We see it as a mixed-use development, combining retail, office, and a hotel site, is most likely what we're going to do there," Owens explained, adding that restaurants and condos are also possibilities.
For more news and information visit Blumberg Capital Partners.
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