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Jeff Vinik and Cascade Investment buy stakes in healthy living design firm

Published Oct. 22, 2015

TAMPA — Tampa Bay Lightning owner Jeff Vinik and his partners at Microsoft founder Bill Gates' Cascade Investment fund believe in the healthy living philosophy of the Delos design firm — so much so that they are the lead investors in a new $108 million equity offering by Delos.

Vinik and Cascade are the two biggest of 43 investors to put money in Delos through the offering, according to the company and an Oct. 15 filing with the Securities and Exchange Commission. The amounts they invested were not disclosed, but are at least $2.5 million apiece.

Delos is a New York-based company that has created a detailed set of standards to guide developers toward creating buildings that are healthy for their residents, workers and visitors.

In Tampa, Delos and the Vinik-Cascade team announced plans last month to apply those standards on a community-wide basis to a $2 billion redevelopment planned for 40 acres near Amalie Arena.

"From the moment I met (Delos founder and CEO) Paul Scialla, I knew that he and Delos were on to something big," Vinik said in a statement released Wednesday through Delos. Describing health and wellness as "one of the major social movements of our age," Vinik added that he expects Delos "to change the paradigm around individuals' wellness in indoor environments."

Delos said it plans to use the new capital to grow its various ventures in healthy design, which include an institute it created to guide developments that adopt its WELL building standard and a partnership with the Mayo Clinic to study the relationship between health and indoor environments.

"Delos is merging the largest asset class in the world — real estate — with the fastest-growing industry in the world — wellness — and we believe the opportunity for growth in wellness real estate is tremendous," Scialla said.

The third-largest investor in the Delos offering was Sino-Ocean Land Holding Ltd., which is based in Beijing and has 50 development projects in 19 fast-growing cities across China.

Contact Richard Danielson at rdanielson@tampabay.com or (813) 226-3403. Follow @Danielson_Times.