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South Florida

Related launches big Bahamian project

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Miami developer the Related Group bought a 50 percent stake in an undeveloped 900-acre site on Eleuthra Island in the Bahamas, joining TRG-Meritage Bahamas LLC, in the property known as Lighthouse Point. It plans to develop the property later. Related partners Jorge Perez and Stephen Ross have prior investment experience in the Bahamas. They were former stakeholders with Sol Kerzner, owner of Atlantis, Paradise Island and One & Only Resorts.