Seminole Tribe of Florida and Stiles Construction Enter into Unprecedented Joint Venture Partnership
– Construction Venture Expands New Market Opportunities within Native American Indian Tribes and Federal Government
– Seminole Classic Casino, First JV Project Completed
Fort Lauderdale, FL. – January 17, 2012 – (RealEstateRama) — In an unprecedented move to expand construction and development operations throughout the Southeast U.S. and beyond, the Seminole Tribe of Florida, Inc. and Stiles Construction, a division of Stiles, announced today a new joint venture partnership to create Seminole Development and Construction, LLC. The newly created venture provides both Seminole Tribe of Florida, Inc. and Stiles with access to a range of real estate construction project opportunities within the Native American tribal network and also includes projects planned under the auspices of the U.S. federal government.
The first project to emerge from the partnership is Seminole Classic Casino, a 140,000-square foot renovation at 4150 North State Road 7 in Hollywood, FL. The six-month long renovation was completed in January 2013 and included a complete transformation of the building’s exterior and interior, as well as upgrades to the parking lot and landscaping. Other Seminole projects in the pipeline include Brighton Public Safety Complex and a new Noodle Bar at the Hard Rock Seminole Casino.
“Our partnership with Stiles opens a world of opportunity for the Seminole Tribe of Florida, Inc. and for all Native American tribes,” said Tony Sanchez, President of the Seminole Tribe of Florida Inc. “Maintaining our unique Seminole culture while providing the highest level of service to our clients and partners is our first priority, and we believe that with Stiles’ family-owned structure, superior values and first-class reputation, this partnership will lead to new projects that will increase our market share, expand and diversify the Seminole Tribe business operations and create substantial value for our tribe as well as our fellow Native American tribes.”
With this partnership, the Seminole Tribe of Florida, Inc. will be able to offer its vast tribal network Stiles’ 60 years of construction expertise, substantial resources, accomplished staff and diverse range of development and construction services. Seminole Development and Construction will have an opportunity to pursue a variety of planned and new construction projects within the Seminole Tribe of Florida, Inc. real estate portfolio. Furthermore, the combined entity will also market construction services to other Native American tribes and pursue federal 8(a) set-aside contracting work, including judicial, military and naval air station projects, that is only accessible to federally recognized groups.
“It is an honor to join forces with the Seminole Tribe of Florida, Inc. to create a powerful partnership that will allow us to enter into new markets and offer exceptional construction and development services to the Seminole Tribe of Florida, Inc. as well as to their expansive Native American Tribal network,” said Timothy Moore, President of Stiles Construction. “We are proud to have launched our partnership with the transformation of the Classic Casino into a state-of-the-art facility, and look forward to several more great projects together.”
Headquartered in Hollywood, Florida, the Seminole Tribe of Florida is a sovereign government with an elected Tribal Council. The tribe has achieved remarkable success since it became the first U.S. Indian tribe to open high stakes bingo halls in 1979. In 2004, the Seminole Tribe of Florida opened two Seminole Hard Rock Hotels and Casinos in Florida. With the March 2007 acquisition of the Hard Rock franchise, the Seminole Tribe of Florida added the prestige of one of the world’s most respected brands. The economic stability provided by gaming, combined with their cattle, citrus, and other business enterprises, has made the Seminole Tribe of Florida one of the most successful native Indian business tribes in the U.S. today.
About Stiles
Stiles is a full-service commercial real estate firm with a clear mission: Invest•Build•Manage. With its diverse capabilities, Stiles has achieved a stellar reputation for excellence and market leadership within the real estate industry. In addition to Construction, Architecture, Realty and Property Management, Stiles also specializes in Development, Financing, Acquisitions and Repositioning. The Company is responsible for more than 38 million square feet of office, industrial, retail, mixed-use and residential projects throughout the southeastern United States. Since 1951, Stiles has played a vital role in South Florida’s rise to prominence. With a multitude of award winning projects, Stiles inspired the revitalization of downtown Fort Lauderdale, Florida, the home of its headquarters. The Company also maintains regional offices in Miami, Tampa, Palm Beach, Ft. Myers and Orlando, Florida. For more information, please visit www.stiles.com or call 954-627-9300.
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*Contact for Info:
Adrienne Zalkind
954-627-9148
