Trump Tower Tampa Suit Final – No Deal

Donald Trump has settled his lawsuit with SimDag, developer of Trump Tower Tampa, officially ending the relationship between the two. The mediation gave neither side everything it wanted. Details have not been released.

Trump sued in May 2007 to recover more than $2-million in licensing fees for the right to use Trump’s name on the 52-story skyscraper. SimDag launched a countersuit accusing Trump of breaching a confidentiality agreement by going public with his complaints.
The tower was planned in 2005 as the biggest skyscraper in west-central Florida, with prices ranging from $700k to $6 Million. But the developers couldn’t get a $200-million loan amid Florida’s condo glut. SimDag filed for Chapter 11 bankruptcy in June.
SimDag has resisted selling the vacant 1.5-acre riverfront lot at 111 S Ashley Drive, waiting until the real estate market improves to get a better price. The settlement still needs ratification by the judge assigned to SimDag’s bankruptcy case.