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The Real Deal Miami

Dezer pays off $265 million Trump mortgages

July 22, 2011 11:04AM

An affiliate of Dezer Properties has paid off the $265 million mortgages
on Trump Towers 2 and 3 in Sunny Isles Beach. The Dezers had assumed
the mortgage from a partnership that included the Related Group in Jan.
2010, and had a four-year time frame to sell all of the remaining units.
The project has just 100 units remaining in inventory. Each of the
towers has 45 stories and 271 units, for a total of 813 units. Tower 1
at the project is already sold out. “This is extremely positive news for
South Florida’s luxury residential real estate market,” said Gil Dezer,
president of the entity. — Alexander