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Shaq Starts Real Estate Company

Shaquille O'Neal, 34, has started a real estate company to invest in projects including a $1 billion residential, hotel and retail complex in Miami.

The four-time NBA champion announced on Tuesday the formation of The O'Neal Group, a real estate firm that's aligning with MDM Development in a $1 billion 1100 unit residential, hotel and retail complex in Miami.

Shaqs portfolio already has more than $50 million in residential and commercial property in California, Florida, New Jersey and Texas.

"Our primary focus is on landmark locations and real estate offerings that positively impact the way people live. Mixed-use developments with integrated living and `intelligent' designs -- such as The Met - are the prototypical examples of what we hope to accomplish," said Christopher Handy, O'Neal Group executive vice president.

Financial terms were not disclosed, the O'Neal Group said it has a financial stake in The Met and will be providing support for the project, such as helping with sales and marketing.



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