The Real Deal Miami

Perez struggles on deal for Trump Hollywood

October 06, 2010 12:00PM

Trump Hollywood

Related’s Jorge Perez is struggling to negotiate an agreement with a
group of lenders on Trump Hollywood. Perez, who partnered with Donald
Trump on the development, wants to cut prices, but the lenders are
reluctant to agree. “It’s just a matter of adjusting prices to the new
reality,” said Perez, head of the Related Group in Miami. Perez has
worked out deals with lenders on CityPlace South Tower in West Palm
Beach and Icon Brickell, along with four other projects in Florida. A
spokesperson said last week that 21 of the development’s 200 units have
closed. [Sun
Sentinel]