Friday, 30 September 2016
Last updated 12 hours ago
Jul 29 2014 | 8:36am ET
Hedge fund manager Jeffrey Vinik’s new life on Florida’s Gulf Coast is starting to take shape.
The Vinik Asset Management chief, who closed his hedge fund last year following big redemptions, is now focused on his Tampa Bay Lightning hockey team, which he bought in 2010. He’s also focused on building his second home in the region, having recently bought—and demolished—a house on St. Armands Key in Sarasota next to a plot he and his wife already own.
The couple plans to build a single home on the now-unified property, which overlooks Sarasota Bay. The house, when completed, will be valued at approximately $11.5 million.
Vinik paid $7.75 million for the two homes.
That’s less than Vinik will pay for the Channelside Bay Plaza shopping mall adjacent to the Tampa Bay Times Forum, where the Lightning play. Vinik’s bid, which has been accepted, was $7.1 million.
The Viniks, who moved from Boston to the Tampa area after buying the Lightning, already own a $6.5 million house in South Tampa, not far from the Forum and Channelside. Their new home will be about 60 miles south of their current digs.
The Viniks are still seeking a buyer for their Weston, Mass., estate, which is listed at $14.5 million.