EURweb |
SHAQ LAUNCHES REAL ESTATE/DEVELOPMENT CO.: 'O'Neal Group' to focus on urban renewal in cities across the country.
*NBA star Shaquille O'Neal has announced the launch of his own real estate and development company that will pursue partnerships and joint ventures to acquire, develop and promote select projects across the U.S.
"The O'Neal Group," announced Tuesday during a press conference in Miami, has set as its first project a partnership with MDM Development in the building of Metropolitan Miami (The Met), a billion-dollar mixed-use development anchoring downtown Miami's urban renewal.
The project includes more than 1,100 residential units, among them the 866-foot Met 3, the tallest residential tower south of New York, an office tower, luxury hotel, entertainment complex, and the area's first Whole Foods store. O'Neal plans to also bring a 24-Hour Fitness/Shaq Ultra Sport fitness facility to the project.
"We've scoured the country to find an appropriate venue through which we could launch the O'Neal Group," said the Miami Heat center, "and ultimately we decided that the best place to start was in our own backyard with Metropolitan Miami. This is the largest residential development project in downtown Miami proper, and it sits on the site where the historical Royal Palm Hotel used to be, the property that first launched downtown Miami more than 100 years ago. I am excited about our involvement with The Met and proud to be part of the area's comeback."
While financial terms were not disclosed, The O'Neal Group will assist with the sales and marketing of the development, which includes engagement of the O'Neal Group as part of The Met's sales team.
Shaq's company formalizes his interest in real estate, as O'Neal has already amassed a portfolio of residential and commercial property valued at more than $50 million. Areas of interest for the new company include his native state, New Jersey and select markets in the northeast, along with South Florida, Los Angeles, and Louisiana.
For more information about The Met visit http://www.metropolitanmiami.com, or call 305-960-9990.
-------------------
Freddie Jackson's new CD "Transitions" in
stores everywhere on September 26. Includes
a collector's bonus DVD of 17 of Freddie's greatest
videos including "Rock Me Tonight" and "You Are
My Lady." Also includes a special tribute to the
late Luther Vandross - "Superstar/Wind
Beneath My Wings." Available on
Orpheus Music
.jpg)
