1. Archive

Investor group buys Tierra Verde Resort

Published Aug. 28, 2005

The Tierra Verde Resort was recently purchased by a group called A&S Tierra Verde Ventures LLC.

The resort includes a marina with 107 wet slips, a 176-slip high-and-dry unit and commercial buildings totaling 30,000 square feet.

Steve Sembler, a managing member of the partnership, would not say how much the group paid or who the other partners are.

It will be another six to nine months before the new owners decide what to do with the complex at 200 Madonna Blvd., Sembler said.

Sembler is owner and president of Sembler Investments and one of four partners of Ballast Point Homes, which is developing the Grand Verandahs luxury condominium development on Gandy Boulevard. He is the son of shopping center builder and developer Mel Sembler, who now is the U.S. ambassador to Italy. Steve Sembler is not affiliated with his father's building firm, the Sembler Co. in St. Petersburg.