Donald J. Trump and developers Michael and Gil Dezer have signed a joint venture agreement for a $600 million, three-phase oceanfront development in Miami Beach. The project, Trump Grande Ocean Resort and Residences, will include a hotel condominium and two luxury high-rise residential condominiums. They will be constructed on an 11-acre parcel of oceanfront property with nearly 1,000 linear feet of beachfront owned by Dezer Development in Sunny Isles Beach. The tract, located on Collins Avenue from 180th Street to 182nd Street, is one of the largest remaining parcels of prime, contiguous beachfront property in the State of Florida. The first phase of the project, a 32-story hotel condominium currently under construction, will be called Trump International Beach Resort. The 372-unit condo/hotel is scheduled for completion in September 2002 with a topping off ceremony planned for February 9, 2002. The hotel will be managed by Sonesta International Resorts and will feature luxurious amenities including two lagoon pools, a European style spa, fitness center, business and convention facilities, and world-class restaurant. The second phase of the project, a 47-story, 267-unit luxury condominium tower to be called Trump Palace, is slated to break ground on February 9th and will be ready for occupancy in August 2003.

The third phase of the project, a mirror image of the first 47-story tower with 333-units called Trump Royale, will begin pre-construction sales in April 2002, with an anticipated groundbreaking toward the end of that year. Prices for Trump International Beach Resort, the hotel condominium, will range from $350,000 to $1 million, while prices for Trump Palace and Trump Royale, the residential luxury high-rises, will range from $380,000 to $5 million. "I am entering into a co-development agreement with the Dezer's because I believe this is an amazing tract of beachfront property with phenomenal potential" said Trump. "It is the equivalent of owning everything on Fifth Avenue from 52nd to 57th Street. With virtually no remaining prime oceanfront property in Florida, there is no doubt that this project is going to be a great success."

The name Donald J. Trump has long been associated with the world's premiere residential real estate and conveys an unparalleled reputation for excellence. Spectacular views, prime location and quality amenities are the characteristics comprising the Platinum standard that Donald Trump is known for. So it is with Trump Grande Ocean Resort and Residences where the service and amenities will be comparable to such properties as Trump World Tower. The New York sales office for the Trump Organization at Central Park South will be the exclusive New York sales broker for Trump Grande Ocean Resort and Residences. Trump sales and leasing is known for success in selling homes of the highest caliber with grace and style and for accommodating  the requirements of its prestigious domestic and international clientele.

Trump's residential properties include Trump World Tower, Trump Place, Trump Tower, Trump International Hotel and Tower, Trump Palace, and Trump Parc. "This project is a testimonial to the increasing demand for this quality of product," adds Michael Dezer, who with his son and co-developer Gil, own more than 27 acres of prime oceanfront property in Sunny Isles Beach including eleven hotels such as the Dezerland Beach Resort and Spa, Suez, Thunderbird, Dr ftwood, Monaco, and Golden Nugget. In addition to their Miami Beach properties, the Dezers' New York holdings encompass more than twenty properties including the Simon Dezer Building on Fifth Avenue, the Dezerland, the Chelsea Antiques Building, the Chelsea Design Center, and the Chelsea Arts Forum.