Trump to make first foray into Fla. hotel market

SUNNY ISLES, Fla. -- Hotel mogul Donald Trump signed a joint venture agreement to invest in his first hotel-related project in the Sunshine State, the $600 million Trump Grande Ocean Resort and Residences.

The 32-story hotel portion, already begun by partner Dezer Development, will open in September with 372 condo hotel units. Sonesta is negotiating to manage the property.

The hotel will have upscale amenities, a European-style spa, a fitness center, business and convention facilities and a restaurant.

Coming later will be two luxury high-rise residences, the Trump Palace and Trump Royale.

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