Together with another local developer he had the rights to 65 acres of waterfront land and a master plan to build 3, 100 housing units and 200, 000 square feet of commercial and retail space, along with parks and marinas.

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Echo, a condominium in the Miami-area that recently hit the market, will have some 2, 800-square-foot units with 300-square-foot master closets, more than 10% of the total floor plan.

WSJ: The $100,000 Closet

The heads of private equity giants KKR ( KKR), Apollo Global Management ( APO) and The Blackstone Group ( BX) all earned their stripes and built buyout skills working in the investment banking units of Wall Street mainstays before breaking out to master the art of the buyout.

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The units yield close to 9% today, in line with its peer group of master limited partnerships.

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