Money, moxie & muscle … combine: Sunny Isles Beach developers Michael and Gil Dezer, and Related Group of Florida CEO Jorge Perez have teamed up with Donald Trump. the four men gathered in Trump's New York office recently for an exclusive interview with SouthFloridaCEO editor William Plasencia

South Florida CEO, Sept, 2005 by William Plasencia

Forget what you think you know about Donald Trump. The man really works for a living, and he is smart enough to know when the ubiquitous Trump brand needs local help to realize a profit. Take his partnership with Sunny Isles Beach developers Michael and Gil Dezer, who have amassed the largest land holdings in that seaside South Florida burg. Together with Related Group of Florida's Jorge Perez, the developers are leveraging their strengths, assets and brand-name recognition to work on a series of high-rise condominium towers along the Atlantic Ocean in Sunny Isles. Each of the 45-story Trump Towers will have 271 units ranging in price from $650,000 to $4 million. The towers are set for completion in 2007.

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This is the second South Florida partnership between Trump and the Dezers, and the first to bring Perez in as a partner. As with many Trump projects outside of New York, the celebrity developer lent his name to the project, and his company advises on its construction and marketing. Although published accounts and sources familiar with these deals say that Trump puts in little money in comparison with his partners, the financial arrangements are a closely guarded secret. Trump, however, is quick to say this is a "partnership" and "not a franchise" of his name. Perez brings to bear the full might of the Related Group--the $2.1 billion company that Builder Magazine lists as the nation's No. 1 multi-family developer. With the high volume of units Related builds every year comes an ability to mobilize an army of contractors and suppliers. And, of course, the company is also cash rich. One thing the Dezers bring to the table is obvious: the land. But the father-and-son team are also tenacious marketers and have a reputation for rending every dime of profit they can from a project, whether it is a co-op conversion in New York's Chelsea or hotel-resorts on the beach.

The four men are not without substantial egos, by any account, and it's unlikely they would have reached their stations in life without them. When I was first approached to consider an article on the Dezers, Perez and Trump, I wasn't sure there was much more to tell that hadn't already played out in other publications: Trump has invaded nearly every corner of popular culture, Jorge "cool $2 billion" Perez (a nickname picked up from his appearance on the June cover of Hispanic Business magazine) is a national coverboy for South Florida's condo craze, and the Dezers seemed happy ruling a small, albeit substantial, kingdom in still-sleepy Sunny Isles. So I set conditions for the interview to take place. It had to be all of them, in person, in the same room, at the same time, in Trump's Manhattan office. That the men accepted the conditions wasn't the only surprise.

If you have even a passing acquaintance with the television show "The Apprentice" you know what the lobby of Trump's Fifth Avenue office looks like. Step off the golden elevator and you feel like you're on a soundstage. But the similarity ends there. Once you're buzzed through the double-doors, you are struck by the ordinariness of the scene: People of all shapes and sizes milling about, folders in hand, working around cardboard boxes on the floor. There are no marble steps, mahogany doors, servants or fashion models within sight. The walls are covered with magazine covers featuring Trump, and his personal office is similarly modest, with blueprints on the table and a scale model of one of his buildings in the corner. Trump apparently reserves luxury for the rest of his building, as his is a "working" office.

Sitting down around Trump's desk, with formalities out of the way, it's all business. The picture that quickly emerges is one of an easy partnership of unequal footing. It is clear the Dezers had the street smarts to acquire the land they own, and they have the business acumen to see their projects get off the ground. It was they who approached Trump about a partnership, perhaps recognizing in him the polish and outward sophistication the father and son lack. Perez and Trump admire one another, and the two spent much of our interview lobbing compliments back and forth and riffing off each other's comments in a ping pong-like interview with me that left the Dezers swinging at the ball only occasionally, as they did when asked about the prospects for casino gambling coming to South Florida. While profit may keep these men in partnership with one another, it is clear that Trump would like to do more business with cash-rich Perez.

Whatever plans this developer triumvirate has for the future, South Florida is likely to continue to see the Dezers, Perez and Trump--in combination or individually--develop real estate here for sometime to come.--WP

RELATED ARTICLE: THE INTERVIEW

MICHAEL AND GIL DEZER, JORGE PEREZ AND DONALD TRUMP, IN THEIR OWN WORDS:

SFCEO: How important is branding to real estate development today?

Jorge Perez: The world, particularly over the last 10 years, has gone heavily into buying well-known, high quality brands. Branding has become very important in getting top prices. Donald has maintained a high level of quality because people still need to be reassured that when they see the Trump name they will be looking at something that is high quality--and that "other people, who are similar to me, are going to be living with me as neighbors" In real estate he has the best name there is.