HOLLYWOOD BEACH, FL-In November, BH3, along with investmentfunds managed by King Street Capital, acquired Trump Hollywood.Now, the investors are preparing to relaunch the property, hopingto have better prospects than its original developer, The RelatedGroup.

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Trump Hollywood sits on a five-acre site and features two- andthree-bedroom condos ranging from 2,070 to more than 7,000 squarefeet, all with private elevator access and panoramic ocean,Intracoastal and city views from private oversized terraces. It’sthe most luxurious building on Hollywood Beach.

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GlobeSt.com caught up with BH3 Partner Daniel Lebensohn todiscuss the group’s decision to invest in Trump Hollywood, how itcompares to other properties in its portfolio, and how they plan torelaunch the asset in a struggling market.

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LeClaire: Why did you decide to invest in TrumpHollywood?

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Lebensohn: We’ve visited scores of real estateprojects throughout South Florida and believe Trump Hollywood isthe most elegant, upscale condominium development on the beach. Theamenities, floor plans, and overall architecture and design of thetower make it stand out above all the rest—from Fort Lauderdale toSouth Beach.

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From a business standpoint, there is very limited new developerinventory on the beach and the market has already absorbed severeprice adjustments and begun a new cycle. This past year, we’ve hadgreat success at our other beach condominium projects and believethat will continue over the next few years. We also were fortunateto acquire the asset at a cost that allows us to price theresidences at a level that should prove compelling to prospectivepurchasers.

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LeClaire: How does this compare with otherproperties in your portfolio?

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Lebensohn: Without question, the addition ofTrump Hollywood elevates the BH3 portfolio and we look forward tocontinued growth and development in 2011. The project alsocomplements our other beach properties, which include TerraBeachside and Fontainebleau Ocean Club in Miami Beach.

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LeClaire: You have planned a relaunch for January.What are you doing to prepare for the relaunch,specifically?

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Lebensohn: We’ve retained Fortune DevelopmentSales in collaboration with The Related Group to oversee sales andmarketing of the project. We also appointed an advertising agencyand public relations firm, and, of course, will continue toleverage the marketing value and insights of the TrumpOrganization.

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Under our direction, these top-tier companies will be workingwith us to develop a comprehensive campaign to relaunch TrumpHollywood in the New Year. Everyone understands the goal is to makebrokers and potential buyers fully knowledgeable of our ownershipopportunities and aware that Trump Hollywood is once again “openfor business.”

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While Trump Hollywood definitely has attracted South Floridiansin search of an upscale beach residence, we understand this is aglobal project that also caters to an international audience. Wewill focus our efforts—whether they’re events, sales outreach,advertising or any other marketing function—throughout the U.S.,Canada, Latin America and Europe. For example, Fortune DevelopmentSales has a strong network in South America and we already have asales trip planned there later this month.

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Finally, we’ve established new pricing for the condominiums atlevels that the savvy buyer will recognize are truly valuable. Webelieve it represents a tremendous deal for those desiring a trulyupscale condo on the sand.

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LeClaire: What do you see as the biggest challengesto turning this property around?

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Lebensohn: The property doesn’t need to be“turned around.” Everything is completely in order from theconstruction to our first-rate staff and operational team. It’s amagnificent asset that unfortunately stagnated for a time due to ahost of market and legacy issues that no longer exist. Now with afresh slate, we look forward to reintroducing Trump Hollywood tothe world.

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LeClaire: How will you overcome thosechallenges?

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Lebensohn: It may sound simple, but we believethe key is bringing people—both brokers and end users—to theproperty. Time and time again, we’ve seen them walk in the door andjust be overwhelmed by the project and what we’re offering.

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