Don Peebles Q&A: the developer talks to SouthFloridaCEO about his next moves now that the Royal...

SouthFloridaCEO: Why did you remain a partner in the Royal Palm Hotel's new ownership group?

R. Donahue Peebles: I wasn't in the market to sell the Royal Palm. Mr. Falor made several unsolicited offers. Retaining the ownership interest in the property allows us to be a partner in the upside on the condo conversion project and long-term profits of the hotel. The ownership interest is a minority interest in the hotel. The transaction allowed us to make a significant profit and liquidate one of our major assets, and use those funds to invest in other properties in other m