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Florida Real Estate Properties
Mirabilis Ventures Acquires Trump Tower Tampa
ORLANDO, Fla., Nov. 22 /PRNewswire/ -- Mirabilis Ventures, Inc., a global private equity firm, has purchased Trump Tower Tampa from SimDag Investments, LLC. Mirabilis is looking to acquire additional projects from the portfolio of the real estate development company, which specializes in the development of luxury waterfront properties in the states of Florida, New Jersey, and Maryland. Total development cost of these potential Mirabilis acquisitions is in excess of $1 billion. "The acquisition of Trump Tower Tampa, along with the other potential acquisitions, instantly expands the scope and weight of the Mirabilis real estate investment portfolio," said Vance Felker, President of Quasar Construction Company, a Mirabilis Ventures company. "We are especially proud to associate Mirabilis with the Trump brand, which is recognized around the world as a gold standard for luxury living." "I am delighted to have a partner of Mirabilis' stature involved in this outstanding project.
Mortgage Fraud Cases Coming Out of the Cracks in Florida
Florida takes the top spot for mortgage fraud in the country, and according to the Tampa Tribune, potential mortgage and title fraud involving 36 unconventional real estate deals in the Bay area are being investigated by state agencies.Inflated home sales prices that provide a third party a financial gain of tens of thousands of dollars are becoming more common, especially with appreciating home values. Even worse, the investigation into this practice has uncovered even more questionable contracts in the Sunshine State. Lenders are worried that the fingers will be pointing to them for the onslaught of bad mortgages gone into default, leaving them with many mortgages that are worth more than the properties.Florida’s weak regulatory authority could be to blame, one that remains insufficient due to ignored complaints from industry officials.
Purchase of property far away requires a lot of forethought
Q: I read your article in the Walton Sun, the Walton County paper in the Florida panhandle. We live in the Destin, Fla., area and are experiencing a huge slowdown in the market. Of course, we're spoiled from the last few years of increasing prices and properties spending a short time on the market. I had a Realtor license when I lived in the Twin Cities of Minnesota. After retiring and coming to the Destin area, I saw the potential and obtained my real estate license here, also helping my daughter-in-law get hers. The past few years have been very profitable; however, this year is a creative market, as it was in the early '80s with the interest rates at 16 percent. The encouraging factor is that we still have beautiful beaches and people love the water! It takes deep pockets to stay the market and not just jump in because of a hot market.
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