Tropicana Forum Editorial:
Paul Goldfinger, MD, Editor
A total of about 100 people, presumably mostly shareholders, attended the December 21, 2020 Murex Properties meeting by ZOOM and in-person. Murex CEO Steven Adler made a lucid, optimistic and interesting presentation patiently going over every detail of what his organization hopes to do if they get the nod to manage Tropicana under the new ownership of the Carlyle Group. He brought a slide show with him to help illustrate his message.
He made it clear that Murex provides management services, but The Carlyle Group would be the new owner. Founded in 1987 in Washington, DC, The Carlyle Group is one of the world’s largest and most successful investment firms.
Adler presented ideas and actual mock-ups of changes which they would implement in the Park including a new entrance and a modernized clubhouse. He carefully explained the variety of improvements which his team would provide which would make the park more attractive, more interesting, and more valuable to those who own homes here.
Some of the promises include new landscaping, lighting, library and catering facilities, a pickle-ball court, bocci court, computer work area, gym, redesigned storage lot, and other ideas that included not only hardscape upgrades but also new lifestyle programs.
His management team would be available to residents to consider other ideas to make the park more attractive. They will be present at the Park on a regular basis.
Adler showed photographs of other properties run by them where many lovely changes have been made and he invited Tropicanites to visit the communities around here which Murex already operates. This company has been around for many years and they have an admirable track record with Florida manufactured home communities.
He also reviewed the financial aspects with the shareholders at the meeting.
Murex has sweetened the original deal financially with an additional $500,000 on top of the already negotiated $2 million for infrastructure. The payout to shareholders was guaranteed to be free of any worrisome twists and turns as the time for signing a contract approaches. He explained the tax implications along with the handling of the existing mortgage and early payoff penalty.
The 140 Co-op shareholders will vote on this new Murex presentation on January 5. It seems to us to be a win-win situation that will make Tropicana a better place for all who live here as renters or homeowners. It’s quite a stretch for anyone to find a good reason to turn this “bird-in-the hand” offer down.
The decision to sell the park requires a super-majority of shareholders. The last vote lost by only 4 even though the actual count was 101 for and 39 against. This rule was set up by the state to provide a strong majority reason for a co-op to sell its ownership.
Note that Murex has made itself available if anyone has concerns, ideas or questions:
Editor’s note: If anyone wants to express an opinion on this topic, just click on the word “comment” below or send us an email to Blogfinger@verizon.net Perhaps a useful discussion will result.—-Paul